eleemosynary corporation

eleemosynary corporation

A nonprofit corporation.Also called a 501(c)(3) corporation.

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(47) Corporations are required to be created for public purposes, which Blackstone acknowledged could include the facilitation of a variety of public benefits, such as "the advancement of religion, of learning, and of commerce." (48) These public purposes, whether achieved in some way by private corporations, government corporations, or eleemosynary corporations, are the ultimate reasons why the government ought to protect their rights once created, including granting corporations standing in court.
All other corporations are lay corporations, which, according to Kyd, are "again subdivided into two class, eleemosynary and civil."(111) Eleemosynary corporations were those "constituted for the perpetual distribution of the free alms, or the bounty of the founder of them, to such purposes as he has directed."(112) The chief examples Kyd provides of such eleemosynary corporations are hospitals for the poor and educational institutions.
Angell and Ames focused their attention on topics critical to religious and eleemosynary corporations such as means of creation -- prescription, common law, and legislative acts,(23) corporate capacity to acquire and alienate property,(24) and the necessity of a corporate seal to bind a corporation to a contract.(25) In these areas, the law was concerned with the relation between the corporation, viewed as a unit, and the state or outsiders with whom the corporation might deal.