As the name suggests, there is a big difference between for profit and nonprofit organizations as per their scope and purpose. Many individuals believe that nonprofit organizations don’t make any profit. And only for profit organizations make the profit. This is a myth. The actual difference doesn’t lie in making profits; rather it lies in handling the profits. For nonprofit organizations, society comes first; personal motives come next. For profit organizations, it’s just the opposite. Other than the purpose of handling the profits, these two organizations are different in scope also.