What is a nonprofit corporation?

[james123]

A non-profit organization (abbreviated as NPO, also known as a not-for-profit organization[1]) is an organization that does not distribute its surplus funds to owners or shareholders, but instead uses them to help pursue its goals.[2] Examples of NPOs include charities (i.e. charitable organizations), trade unions, and public arts organizations. Most governments and government agencies meet this definition, but in most countries they are considered a separate type of organization and not counted as NPOs. They are in most countries exempt from income and property taxation.

[roberston]

hi

The term not-for-profit corporation may include non-profit organizations, if these organizations are incorporated and registered at a Registry of Commerce (often as Societies, Associations, Trusts, etc.). However, non-profit organizations created through charter or statutes that are not required to register as corporations, are not included in this classification. Regarding the more general group of organizations created for non-profit purposes see: Non-profit organization.

Thanks