Glossary of Terms

 

Enterprise….
A group of activities (and related juristic persons) intended to
produce income organized for:
  • Profit as a business of any size and type:
    • Unincorporated or incorporated
    • One or many entities
One entity is designated as the “holding entity” in a multi-
entity structure.
Note: an enterprise can incubate an enterprise.
Not-for-profit associations:
Membership groups
Public charities
Private foundations
Government agencies
Notes:
1.
When an enterprise is referred to as entity, the reference is
specifically to the holding entity, unless otherwise specified
2.
“Not-for-profit” is a generic term; “non profit” means an entity
that has been approved by a taxing authority as being exempt
from income tax
3.
Not-for-profit does not mean not for revenue