Glossary N-words (FAM)

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Net Earned Income — an individual’s monthly gross earned income minus all allowable employment-related disregards. Also known as net monthly earned income.

Net Income — gross income minus all allowable income disregards and deductions.

Noncontract Provider — any provider of child care services that is not a contract agency.

Nonliquid Asset — a resource which cannot be readily converted to cash, such as vehicles, buildings, or land.

Nonprofit Agency — an organization that Internal Revenue Service has determined to be tax-exempt