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U.S. corporations are charted either as “for-profit” or “not-for-profit.” The officers of for-profit companies are charged with generating profits for their shareholders. By contrast, not-for-profit organizations have no shareholders, leaving any excess of revenue realized over operating expenses for the exclusive benefit of the organization’s clients or members. Examples of historically not-for-profit entities include educational institutions, places of worship, hospitals, and continuing care retirement communities. Such organizations receive tax benefits, helping to ensure that their mission continues and that the persons they serve receive all benefits of operation directly. Simply stated, residents of not-for-profit communities are the sole beneficiaries of its “profits.”

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