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U.S. Department of Education: Promoting Educational Excellence for all Americans
Statute: TITLE I / A / 602 / 21

(21) Nonprofit.--The term `nonprofit', as applied to a school, agency, organization, or institution, means a school, agency, organization, or institution owned and operated by 1 or more nonprofit corporations or associations no part of the net earnings of which inures, or may lawfully inure, to the benefit of any private shareholder or individual.