nonprofit corporation


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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).

nonprofit corporation

A corporation formed for a nonprofit purpose, such as charitable, educational, political, social, or trade organizations. Usually called a 501(c)(3) corporation after Section 501(c)(3) of the Internal Revenue Code.All such corporations with tax-exempt status are required to file annual reports with the IRS on Form 990.You may view the tax deductibility of contributions and past 990 forms for particular organizations free of charge at the Web site for Philanthropic Research, Inc., www.guidestar.org. See also eleemosynary corporation.

References in periodicals archive ?
to the corporation, relinquishing both ownership and liability, and then the nonprofit corporation would raise money for the smokestack's upkeep.
Although LSC has stronger federal accountability requirements than many nonprofit corporations, it is subject to governance and accountability requirements that are weaker than those of independent federal agencies and U.S.
The analysis was prepared as part of Excelencia's Accelerating Latino Student Success (ALASS) project, supported by TG, a Texas-based nonprofit corporation that administers the Federal Family Education Loan Program.
The nonprofit corporation, with 501(c)(3) public charity tax-exempt status, is the predominant organizational form for nonprofit organizations.
NCB means National Consumer Co-operative Bank, its subsidiaries and NCB Capital Impact, an affiliated nonprofit corporation. Loans and technical assistance may be provided by NCB, NCB Capital Impact or NCB, FSB, all of which are Equal Housing Lenders.
The California CPA Foundation for Education and Research was created in 1966 following approval from CalCPA's board of directors to form a separate nonprofit corporation as a subsidiary of CalCPA.
I focus on one common organizational form for nonprofit universities (6): the nonprofit corporation. (7)
The current organizational structure of the NMC is set forth in its 1999 certificate of incorporation as a Delaware nonprofit corporation, and in its bylaws.
EPA and the nonprofit corporation Toxicology Excellence for Risk Assessment at the request of the Perchlorate Study Group.
The nonprofit corporation is dedicated to the prevention and treatment of childhood health problems ("An Idea Worth Supporting," Practical Pediatrics, September 1993, p.
is a nonprofit corporation jointly established in September 2003 by EAN International, a European distribution standardizing organization, and UCC, an organization responsible for the distribution and management of bar codes.
Street also announced the formation of Wireless Philadelphia, a Pennsylvania nonprofit corporation, and issued the release of the agency's request for proposals.

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