In defense of keeping the word "nonprofit" amid suggestions of ditching it for obtuse jargon like "“social impact sector,” “humanity sector,” “delta sector,” “social sector," "third sector," "independent sector," "social good sector,” or "public benefit corporations."
"Of course, the term “nonprofit” was never meant to explain your cause. That ongoing challenge is up to you... 'Nonprofit' is why the general public supports the sector with its tax-deductible dollars. They trust that all earnings will not inure to any private shareholder or individual.Congress, attorneys general, and the FTC are there to ask questions whenever that line is apparently crossed...
Yes, as nonprofits integrate earned income models into their activities, and socially oriented businesses integrate social impact into their for-profit activities, the lines between some for-profit and nonprofit organizations are blurring. Are we not all social entrepreneurs? Do we not all have a passion for a mission? Nevertheless, the nonprofit has the privilege of receiving tax-exempt gifts and the for-profit does not. The distinction matters because it denotes an appropriately stewarded use of donor money, and we all are required—or should be required—to live up to that assurance.
The word “nonprofit” never called for a mental capital letter. Nearly one in three people worldwide donate and one in four volunteer because they are inspired by that charity, though admittedly comforted by the sector in which that nonprofit is registered by its government." - Jim Schaffer at Nonprofit Quarterly