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I don’t think there is a worthwhile difference.
The usual distinction is between profit seeking and not-for-profit (such as a charity or government organisation). Having said that, many large charities are very commercial in their income raising activities eg shops, sponsorship and high-powered telephone operations to gather donations.. They don’t aim to make profits but they certainly aim to raise money using very professional and commercial approaches.
OK, it was mentioned at the end of the EVA article part 2 that it is more appropriate tool for measuring the performance of commercial organisations than profit-based ones, which confused me slightly.
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