Final answer:
A Non-Profit Organization is a business entity whose primary mission is not making a profit. They are governed by a strict tax code and have advantages such as bringing in others interested in supporting the same cause and having no tax liability.
Step-by-step explanation:
A Non-Profit Organization is a business entity whose primary mission is not making a profit. Instead, Non-Profit Organizations are generally set up to provide charitable, religious, or educational purposes. They are governed by a strict tax code, which includes requirements for legal setup and compliance to avoid tax liability. Non-Profit Organizations have advantages such as the ability to bring in others interested in supporting the same cause and no tax liability.