A not-for-profit corporation is an incorporated organization created by statute, government or judicial authority and registered at the Registry of Commerce, that is not intended to provide a profit to the owners or members. It differs from a for-profit corporation substantially as this is organized to provide profits to its owners or members. A non-profit corporation is always organized as a non-stock corporation.
The term not-for-profit corpora...
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A not-for-profit corporation is an incorporated organization created by statute, government or judicial authority and registered at the Registry of Commerce, that is not intended to provide a profit to the owners or members. It differs from a for-profit corporation substantially as this is organized to provide profits to its owners or members. A non-profit corporation is always organized as a non-stock corporation.
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.
A non-profit corporation is usually created with a specific purpose, such as for educational,...
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