Nonprofit Organization

(redirected from Nonprofit Corporations)
Also found in: Dictionary, Thesaurus.

Nonprofit Organization

An organization that operates as if it were a business but does not seek a profit. Common examples of nonprofits include charities, private schools, and think tanks. Nonprofits do not pay taxes; donations to many are tax-deductible, at least up to certain limits. In order to qualify for this status, however, a nonprofit must register with the IRS, under section 501(c) of the tax code. See also: 403(b).
References in periodicals archive ?
of a nonprofit corporation are not personally liable in their capacity as directors .
The Act also provides that a nonprofit corporation may "eliminate or limit the liability of a director to the nonprofit corporation or to its members for monetary damages for any action taken or any failure to take any action as a director" if so provided in the articles of incorporation, bylaws or a resolution ([section] 16-6a-823(1)(a), Utah Code Ann.
There are 256,000 nonprofit corporations nationwide, a category that includes private schools and religious organizations, of which 24,000 declared earnings from their business in the past year.
Of the 879 nonprofit corporations found to have irregularities in their income declaration, 94 concealed incomes totaling 1,296 million yen in a "vicious" manner.
Previously, when the district issued certificates, it was legally required to use an independent nonprofit corporation as a conduit for the funds between the district and the bank.
Nearly 62,000 business entities and nonprofit corporations are on file with the Department of Secretary of State, and each of those entities must file an annual report disclosing information about the management of the entity.
California Home Source allows qualified residents to choose a home, lease it from a new non-profit entity created by the ABAG Finance Authority for Nonprofit Corporations, then purchase the home and assume the mortgage at the end of the lease term.
During this critical time of limited state and local budgets and restricted funding sources, we are excited about addressing the housing need and opening access to home ownership in the Bay Area," stated Tom Ford, Chair of the ABAG Finance Authority for Nonprofit Corporations and Sonoma County Treasurer.
Media inquiries should be directed to Loren Gonzalez, for ABAG Finance Authority for Nonprofit Corporations, 818/509-1507 or loren@monarchagency.
Davis said, "We hope this pamphlet will explain in simple terms who and what is eligible for tax-exempt financing, why it is virtually always the best choice for nonprofit corporations when considering financing capital projects (even compared to using donations), how tax-exempt financing works and how to make the most of it.
This pamphlet parallels the substantial expansion in recent years in the types of nonprofit corporations using tax-exempt financing.
Villages at Cabrillo will be developed and operated by LA Vets, a joint venture between for-profit and nonprofit corporations.

Full browser ?