The term originated in Iloilo City, Philippines. It means using the funds of one candidate to benefit their rival canditates. Turning one's own political contributions against oneself by deception and giving the contributed funds to a rival candidate(s). A double whammy.
A person who often has sex out of charity or pity in spite of having insufficientsexual attraction. The not-for-profitute often feels like they ought to have been payed, but refuse to receive payment as their sexual performance is a gift of charity.
"Kev, dude. Your face is glowing; what's good man?"
"Man, I dicked Brittney last night. She's like a 10. I'm like sexy and I never even knew."
"I hate to break this to you Kev, but Brittney's a not-for-profitute."
"Oh. Dude, I'm not even mad though. Her tits were bouncin'."
A more polite way of saying "slut"; remember that a whore gets paid while a slut does the same work for free.
From SNL parody of Girls:
Jessa: I had sex with a cab driver, alright? It's called being free.
Blerta: You are prostitute?
Jessa: No, it's not prostitution if you don't get paid.
Blerta: You are UNPAID prostitute?!? You are lower than dog!