Corporation organized for other than profit making purposes, and of which no part of the income is distributable to its members, directors, or officers..
A not-for-profit corporation (also knows as a non-profit corporation) is generally organized for some socially beneficial purpose, rather than for the direct monetary benefit of the directors or members. Not all not-for-profit corporations are tax exempt and some make a profit. (See Tax Exempt Organization
A Corporation organized for some charitable, civil or other social purpose that does not entail the generation of profits for shareholders. These corporations receive special tax treatment. Not-for-profit corporations must file not-for-profit articles of incorporation with the state. - Officers - Officers are people who are appointed by the directors. They manage the daily affairs of the corporation. A Corporation’s officers usually consist of a president, vice-president, treasurer, and secretary. In most states, one person can hold all of these positions.
A corporation organized for some charitable, civil or other social purpose which does not entail the generation of profits for shareholders. These corporations can apply for tax-exempt status at both the federal and state level. Not-for-profit corporations, also often called nonprofit corporations, must file not-for-profit articles of incorporation with the state.
A not-for-profit corporation is generally organized for some socially beneficial purpose, rather than for the direct monetary benefit of the directors or members. Not all not-for-profit corporations are tax exempt and some make a profit. However, the profit is not distributed to the members or directors. Also known as a non-profit corporation.
An organization incorporated for educational, humanitarian or charitable reasons that is exempt from some taxes, and in which its shareholders or trustees do not benefit financially. Also called Non Profit Organization.
A Not-for-profit corporation is a corporation created by statute, government or judicial authority that is not intended to provide a profit to the owners or members. A corporation that is organized to provide profits to its owners or members is a for-profit corporation. A non-profit corporation is always organized as a non-stock corporation.