Non-profit corporations are typically organized as tax exempt organizations under section 501(c) of the Internal Revenue Code and are subject to the same general rules as for-profit corporations: they may not use general treasury funds for contributions, expenditures, or electioneering communications, but, with the exception of 501(c)(3) charities, they may set up a connected PAC to raise money for these purposes. Tax law, however, does not allow 501(c) organizations to have the influencing of elections as their primary purpose.
A corporation that is not formed with the intent to realize a profit, but is established for a religious, charitable, educational, literary or scientific purpose. Qualifying nonprofit corporations will be granted tax-exempt status by both federal and state authorities.
A corporation established under state law for purposes other than making profits that would be distributed to the owners, directors, members or officers.
a legal entity separate from its members and directors formed for purposes other than generating a profit to be distributed to its members, directors or officers as dividends
an entity that provides many of the benefits of regular ( C ) corporations, but is created for reasons other than generating a profit from its activities
a special type of corporation that has been organized specific tax-exempt purposes
A corporation formed, not with the intent to realize a profit, but instead established for charitable, educational, literary, scientific or religious purposes. Non-profit corporations, by definition, are granted tax-exempt status at the federal and state level.
A corporation created under applicable state law, which is exempt from income taxes and is required to operate in accordance with applicable state law and tax laws. Typically, the board of directors or trustees consist of family members, making it appealing to donors who desire to control the gifted assets until they are distributed to charity.
a corporation that does not distribute retained earning to stockholders, principals, or governing board members.
A corporation that has filed for and received a tax-exempt status because they do not intend to realize a profit. Usually granted to educational, religious, charitable and some other types of organizations.
A non-profit corporation generally exists for the purpose of carrying out some socially useful objective. The non-profit corporation's income does not get distributed to members, officers and/or directors. The money is used to further the socially useful purpose.
A business entity formed for civil, social, or charitable purposes for which the generation of profit is not part of its function. Non-profit corporations are taxed differently, and are incorporated differently than for-profit business organizations.