Your Answers: Do Nonprofits Make No Profits?

In Do Nonprofits Make No Profits?, I asked you:

So if “nonprofit” doesn’t mean “no profits” — then what does it mean?

Thanks to everyone who wrote in! 

A good start:

I’m going to say “nonprofit” means that “mission takes priority over profit”.
- Reader S.U.

Warmer:

I prefer the term "not for profit" because it implies that the purpose of the business isn't to make money. It also allows room for a profit.
- C.G.

Nearly spot-on:

The profit in a nonprofit is used for things directly related to the entity, like structural improvements, expansion, marketing, scholarships, or "reinvested" in some other way, as opposed to a business-business, where the profit can be used to buy a Lambo.
- D.R.

Here’s the thing:
For the real definition, we’ll need the source. And since “nonprofit” is actually a tax status, there’s only one source:

To be tax-exempt under section 501(c)(3) of the Internal Revenue Code, an organization must be organized and operated exclusively for exempt purposes set forth in section 501(c)(3), and none of its earnings may inure [give benefit] to any private shareholder or individual.
— The I.R.S.

Yep, nonprofits make profits. Just not for individuals.

Warmly,
Jonathan