1 definition by Old Ebbit
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.
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