Understanding College Types: Are most colleges non profit?

Trying to wrap my head around all this. Can anyone explain if most colleges are classified as non-profit? What's the true meaning of this in the context of higher education?

In the world of higher education, you'll come across both public and private institutions, both of which can be non-profit. Most universities and colleges in the U.S are indeed non-profit entities.

Non-profit, in this context, primarily means that any excess revenue a school makes is channeled back into the institution itself rather than being distributed to individuals or shareholders. The resources are reinvested to improve the university's educational offerings, upgrade facilities, fund research, and pay salaries to professors and other employees.

Non-profit colleges and universities are typically governed by a board of trustees. These trustees do not receive any part of the college's earnings. Instead, they serve voluntarily and are committed to ensuring the institution fulfills its educational mission.

Opposite to that, for-profit colleges are run by private, profit-seeking companies or organizations. After expenses, these schools distribute remaining income to owners or shareholders. The focus here might be more on profit margin than educational outcome.

Remember that non-profit status doesn't automatically equate to high-quality education. When choosing an institution, it's essential to consider its accreditation, programs offered, faculty experience, post-graduation outcomes, and community, among other factors.