§1108.260. Nonprofit organization.
2 C.F.R. § 1108.260
Nonprofit organization means any corporation, trust, association, cooperative, or other organization, not including an institution of higher education, that:
Is operated primarily for scientific, educational, service, charitable, or similar purposes in the public interest;
Is not organized primarily for profit; and
Uses net proceeds to maintain, improve, or expand the operations of the organization.
Notes, amendments, and revision history
Authority
Authority: 5 U.S.C. 301 and 10 U.S.C. 113.
Source
Source: 85 FR 51230, Aug. 19, 2020, unless otherwise noted.