section_path: Types/Legal framework/Non-profit vs. for-profit
section_name: Non-profit vs. for-profit
paragraph_text: Non-profit vs. for-profit
  
  Nonprofit means that an organization is classified as a charitable corporation and is exempt from paying most taxes and the money the organization earns is invested in the organization itself. Money made by a private, for-profit museum is paid to the museum's owners or shareholders.
  
  The nonprofit museum has a fiduciary responsibility in regards to the public, in essence the museum holds its collections and administers it for the benefit of the public. Collections of for-profit museums are legally corporate assets the museum administers for the benefit of the owners or shareholders.