Which of the following is NOT a characteristic of a fraternal benefit society?

Fraternal benefit societies are typically nonprofit organizations that aim to provide benefits such as insurance options and financial aid to their members while promoting social interactions and community support. These societies prioritize the welfare of their members rather than financial profit, which aligns with their operational framework.

The characteristic of operating for profit fundamentally contradicts the essence of a fraternal benefit society, which is structured to operate on a nonprofit basis. The focus is on member services, solidarity, and mutual aid, rather than generating profit for shareholders or investors. Thus, the correct identification of "operates for profit" as a non-characteristic highlights the overarching principle that these organizations exist primarily to serve their members' interests, not to generate financial gain.