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Was (wer) ist non-profit corporation - definition
LEGAL ENTITY INCORPORATED FOR PURPOSES OTHER THAN GENERATING PROFITS
Non-profit corporation
non-profit corporation
n. an organization incorporated under state laws and approved by both the state's Secretary of State and its taxing authority as operating for educational, charitable, social, religious, civic or humanitarian purposes. A non-profit corporation (also called "not for profit corporation") is formed by incorporators, has a board of directors and officers, but no shareholders. These incorporators, directors and officers may not receive a distribution of (any money from) profits, but officers and management may be paid reasonable salaries for services to the corporation. Upon dissolution of a nonprofit corporation its assets must be distributed to an organization existing for similar purposes under the "cy pres doctrine." In order for contributions to the corporation to be deductible as charitable gifts on federal income taxes, the corporation must submit a detailed application (with a substantial fee) for an Internal Revenue Service ruling that it is established for one of the specific nonprofit purposes spelled out in the Internal Revenue Code. Informational tax returns must be filed annually with the IRS and the state taxing body. In addition, the state Attorney General may have oversight powers to determine if the corporation is abiding by state laws by limiting its activities to its approved non-profit purposes and not milking the corporation for disguised profits.
See also: charity corporation cy pres doctrine
Nonprofit corporation
A nonprofit corporation is any legal entity which has been incorporated under the law of its jurisdiction for purposes other than making profits for its owners or shareholders. Depending on the laws of the jurisdiction, a nonprofit corporation may seek official recognition as such, and may be taxed differently from for-profit corporations, and treated differently in other ways.
Non-profit distributing organisation
NPDO; Non profit distributing organisation
A non-profit distributing organisation (NPDO) is a form of business structure where, although profit is still sought, any profit is reinvested in services or business growth rather than being distributed to shareholders. NPDOs are often used for delivering public services at arm's length from United Kingdom local councils, such as Sentinel Leisure Trust.
Wikipedia
Nonprofit corporation
A nonprofit corporation is any legal entity which has been incorporated under the law of its jurisdiction for purposes other than making profits for its owners or shareholders. Depending on the laws of the jurisdiction, a nonprofit corporation may seek official recognition as such, and may be taxed differently from for-profit corporations, and treated differently in other ways.
Beispiele aus Textkorpus für non-profit corporation
1. The new venture will headquarter in Los Angeles and operate as an independent, non–profit corporation.
2. Nokia and Intel are members of the WiMAX forum, which is an industry–led non–profit corporation formed to promote and certify compatibility and interoperability of WiMAX.
3. The award is administered by a non–profit corporation, under the guidance of a steering committee of distinguished automotive journalists from Asia, Europe, and North America.
4. Real life: Jim Bakker –– In 1'87, the high–profile television evangelist and owner of the hugely–successfully PTL ("Praise the Lord") Network was living with his wife at a level of luxury highly unusual for the head of a non–profit corporation.
5. The four–page filing, obtained by The Associated Press, lists the purpose of the non–profit corporation to conduct federal ‘testing the waters‘ activity under the Federal Election Campaign Act for Rudy Giuliani.‘‘ The paperwork, dated last Friday, is signed by Bobby Burchfield, a partner at the DC–based law firm of McDermott Will & Emery, a firm that handles political work.