What is a nonprofit corporation?
- A nonprofit corporation is an organization or company that gains money through sales and keeps 100% of the profit. Income and any surplus funds are not distributed to owners or shareholder, but are kept to be used in the company's activities.
- A nonprofit corporation is one which exists to fulfill a charitable need in society. Nonprofits use money gained from donations and fund raising activities to help those in need or to support education and scientific research, fund advances in health care, promote conservation and responsible citizenship, protect animals and other worthwhile endeavors. Nonprofit corporations are subject to Internal Revenue Code 501(c)3, and most of the profits they generate are exempt from income taxes. Generally donations to nonprofits are tax deductible.
- Non-profit organizations include charities, trade unions, and public foundations.
Anthony Mancuso has written: 'Taking Care of Your Corporation' -- subject(s): Popular works, Stockholders' meetings, Industrial management, Corporation law, Law and legislation, Corporate governance 'LLC maker' -- subject(s): Popular works, Limited partnership, Private companies 'Your limited liability company' -- subject(s): Popular works, Private companies 'The California nonprofit corporation handbook' -- subject(s): Nonprofit organizations, Law and legislation, Popular works, Incorporation 'Form Your Own Limited Liability Company 4th Edition' -- subject(s): Popular works, Limited partnership, Private companies…
If it is a corporation, it can. Like all corporations, it cannot receive a discharge under Chapter 7. Most bankruptcy lawyers, if the corporation will not benefit from a Chapter 11, would probably not recommend bankruptcy for the corporation, but the organization should discuss this with an experienced local bankruptcy attorney.
Corporation: A corporation is a limited liability business that has a separate legal personality from its members. Corporations can be either privately owned or government owned, and privately owned corporations can organize either for profit or nonprofit. A privately owned, for profit corporation can either be privately held http://wiki.answers.com/wiki/Privately_held_companyor publicly held. with profit corporation's shareholders elect a board of directors to direct the corporation and hire its managerial staff
this was written on the museum's website At met museum.org/visitor/Faq Who owns the works of art in the Museum? The Museum is a nonprofit corporation, and the governing body of the corporation holds the works of art in trust. Who owns the building? The City of New York owns the Museum building and the property on which it is located.
The manager of a nonprofit organization is typically called the Executive Director. Recently, they are being called CEOs, though. The two are interchangeable, unless someone is really picky. Depending on the size of the nonprofit, there may be other "managers". Some include Development Managers (fundraisers), Program Managers, and Volunteer Coordinators. They are responsible for different departments/functions within the organization.