Nonprofit Corporation
/ˌnɑnˈprɑfɪt ˌkɔrpəˈreɪʃən/
Definitions
- (n.) A corporation organized for purposes other than generating profit, typically for charitable, educational, religious, or social goals and exempt from certain taxes.
The nonprofit corporation focused on providing educational resources to underprivileged children.
Forms
- nonprofit corporation
- nonprofit corporations
Related terms
See also
Commentary
Nonprofit corporations differ from for-profit entities by their purpose and tax status; ensure clarity on tax exemption criteria when drafting related documents.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.