### Question
Can you define what private nonprofit organization means?


### Answer
**Private nonprofit organization** is defined as the following in *12 U.S.C. § 1701q*:

> any incorporated private institution or foundation—


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

#### Citation:
  - *12 U.S.C. § 1701q*
  - Heading: **CHAPTER 12-SAVINGS ASSOCIATIONS**

