### Question
How does the law define nonprofit organization?


### Answer
Under *12 U.S.C. § 1441a*, **nonprofit organization** is defined as:

> a private organization (including a limited equity cooperative)—


(i) no part of the net earnings of which inures to the benefit of any member, shareholder, founder, contributor, or individual

#### Citation:
  - *12 U.S.C. § 1441a*
  - Heading: **CHAPTER 11-FEDERAL HOME LOAN BANKS**

