1 definition by Old Ebbit

Top Definition
An organization that uses surplus funds to achieve its goals, rather than to pay dividends to shareholders. Designated under US Internal Revenue Code 501(c).
Bones: Excuse me, your gang can't fund the lobby for legalizing crystal meth.

T-Jam: On the contrary, Bones, we classify as a 501(c) nonprofit advocacy organization. We can fund whatever we wish provided we don't kick out dividends to investors.

Bones: Word to your mother. Lets go cut someone.
by Old Ebbit December 11, 2011

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