2 CFR 25.345 - Nonprofit organization.
Nonprofit organization -
(a) Means any corporation, trust, association, cooperative, or other organization that -
(1) Is operated primarily for scientific, educational, service, charitable, or similar purposes in the public interest;
(2) Is not organized primarily for profit; and
(3) Uses net proceeds to maintain, improve, or expand the operations of the organization.
(b) Includes nonprofit -
(1) Institutions of higher education;
(2) Hospitals; and
(3) Tribal organizations other than those included in the definition of “Indian Tribe.”
Title 2 published on 2015-11-11.
No entries appear in the Federal Register after this date, for 2 CFR Part 25.