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A corporation that enjoys all the rights of a corporation, but without a profit goal. Most charities, educational institutions, home owner associations and so forth, are non-profit corporations.
Mcclarty- most non-profits do, and must, have a profit goal in order to sustain. It usually is not their primary goal, and many of the actions taken on their behalf are not profit oriented. A primary difference is that a non-profit may not use its profits to then "inure" (benefit) the various officers and directors. Employees are entitled to a salary, but unlike a for-profit, if profit is made it must then go back into the organization.
Wiki User
∙ 13y ago
Wiki User
∙ 13y agoNot-for-profit corporations, formed under the nonprofit laws of their respective states, have members instead of stockholders. Any income made cannot be distributed to the members.
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Examples of a corporation?
general corporation Close corporation Limited Liability Corporation
What is corporation in a sentence?
A corporation is a legal entity separate from its owners that is formed to conduct business activities, with ownership being held by shareholders who have limited liability for the company's debts and obligations.
What is a Delaware corporation?
A Delaware corporation would be a corporation that is incorporated in the state of Delaware.
When a corporation receives a dividend from another corporation how is it taxed?
Dividends are income to the receiving corporation. If it is a sub-chapter S corporation, it is income to the shareholders, as is any other income of the corporation.
Who are the creditors of a corporation?
Bondholders are creditors of a corporation; they have loaned the corporation money and received bonds as evidence of the corporation's. Stockholders, both common and preferred, are owners of a corporation. (STOCKHOLDERS ARE NOT THE CREDITOR)
Who is responsible for a corporation debt?
the corporation
Who is responsible for the debt of a corporation?
the corporation
Is Nike a corporation or franchise?
corporation
Is UFC a Corporation?
Yes. It is a corporation
Why to have corporation?
A corporation shields one from personal liability. A corporation can keep ownership confidential. A corporation may have income tax advantages.
What is the difference between a public corporation a private corporation and a crown corporation?
"Public Corporation" can refer to a corporation that offers shares on the public market, or it can refer to a corporation that is owned by the government. Similarly, "Private Corporation" can refer to any corporation that is not government owned, or a corporation that does not list its shares on public share markets. A "crown corporation" is one that is owned by the government. This term is more widely used in UK, some Commonwealth countries and other monarchies.
Who are the main creditors of a corporation?
Bondholders are creditors of a corporation; they have loaned the corporation money and received bonds as evidence of the corporation's. Stockholders, both common and preferred, are owners of a corporation. (STOCKHOLDERS ARE NOT THE CREDITOR)
