private gain

private gain
A gain accruing to the benefit of an individual, not to the benefit of the public or of a charity. Under Federal statute exempting the property of educational institutions from taxation in the District of Columbia, provided the property is not used for private gain, as so used, the term has reference only to gain realized by any individual or stockholder who has a pecuniary interest in the corporation, and not to profits realized by the institution, but turned back into the treasury or expended for permanent improvements. District of Columbia v Mt. Vernon Seminary, 69 App DC 251, 100 F2d 116.

Ballentine's law dictionary. . 1998.

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