Asked in Incorporation

What is a non profit corporation?


Wiki User

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.