Information about Not For Profit Corporation
A not-for-profit corporation is a corporation created by statute, government or judicial authority that is not intended to provide a profit to the owners or members. A corporation that is organized to provide profits to its owners or members is a for-profit corporation. A non-profit corporation is always organized as a non-stock corporation.
A non-profit corporation is usually created with a specific purpose, such as for educational, charitable or related to other enumerated purposes, it may be a foundation, a charity or other type of non-profit organization. Such a corporation is subject to the general laws of corporations as adapted. In some cases it may also be a public corporation. In many countries these entities are subject to exemption from various tax laws, in certain circumstances. Regarding the more general group of organizations created for non-profit purposes see: Non-profit organization. Regarding US tax law applying to these organizations see: intermediate sanctions, unrelated business activities.
Examples of not-for-profit organizations that have been formed in the past include the Electricity Supply Commission of South Africa (Eskom) and the New Zealand Electricity Department (NZED). Both of these organizations were set up to develop the electricity generation and electric power transmission needs of the respective countries by statute (The Electricity Act in each country).
One of the problems experienced by such corporations is their inability to fund growth from profits in the way that conventional businesses can. In the case of Eskom, the dilemma was solved by establishing a capital development fund, contributions to which were deemed to be costs and the investment of the fund was restricted to the loan stock (bonds) of Eskom. In New Zealand, the pricing of electricity was regulated to allow for the collection of a capital contribution. Ultimately the respective governments amended the legislation to bring the organisations into the normal commercial fold.
More generally, the term not-for-profit corporation may include any non-profit organization, since these organizations are generally incorporated (often as Societies, Associations, Trusts, etc.).
A Public benefit nonprofit corporation is a type of nonprofit corporation chartered by a state government.
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A non-profit corporation is usually created with a specific purpose, such as for educational, charitable or related to other enumerated purposes, it may be a foundation, a charity or other type of non-profit organization. Such a corporation is subject to the general laws of corporations as adapted. In some cases it may also be a public corporation. In many countries these entities are subject to exemption from various tax laws, in certain circumstances. Regarding the more general group of organizations created for non-profit purposes see: Non-profit organization. Regarding US tax law applying to these organizations see: intermediate sanctions, unrelated business activities.
Examples of not-for-profit organizations that have been formed in the past include the Electricity Supply Commission of South Africa (Eskom) and the New Zealand Electricity Department (NZED). Both of these organizations were set up to develop the electricity generation and electric power transmission needs of the respective countries by statute (The Electricity Act in each country).
One of the problems experienced by such corporations is their inability to fund growth from profits in the way that conventional businesses can. In the case of Eskom, the dilemma was solved by establishing a capital development fund, contributions to which were deemed to be costs and the investment of the fund was restricted to the loan stock (bonds) of Eskom. In New Zealand, the pricing of electricity was regulated to allow for the collection of a capital contribution. Ultimately the respective governments amended the legislation to bring the organisations into the normal commercial fold.
More generally, the term not-for-profit corporation may include any non-profit organization, since these organizations are generally incorporated (often as Societies, Associations, Trusts, etc.).
See also
- Business organizations
- Non-profit organization
- Religious corporation
- Public Benefit Nonprofit Corporation
- Mutual Benefit Nonprofit Corporation
External links
- Legal Information for Nonprofit Organizations Checklist for establishing and running a nonprofit corporation
- Nonprofit FAQs
- Non-Profit Corporations Paperwork required for a non-profit corporation
- Nonprofit Directory
Topics related to charity |
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| Philanthropy - Alms - Tzedakah - Zakat - Altruism - Gift - Donation - Alternative giving Non-governmental organization - Registered charity, Charitable trust - Foundation - Non-profit organization - Not-for-profit corporation - Charity Navigator - Network for good - Charity badge Volunteer - Philanthropist - Charitable contribution |
Business law
Business organizations
Basic forms:
Sole proprietorship
Corporation
Partnership
(General · Limited · LLP)
Cooperative
USA:
Business trust · LLC · LLLP
Delaware corporation
Nevada corporation
UK/Commonwealth:
Limited company
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Business organizations
Basic forms:
Sole proprietorship
Corporation
Partnership
(General · Limited · LLP)
Cooperative
USA:
Business trust · LLC · LLLP
Delaware corporation
Nevada corporation
UK/Commonwealth:
Limited company
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A statute is a formal, written law of a country or state, written and enacted by its legislative authority, perhaps to then be ratified by the highest executive in the government, and finally published. Typically, statutes command, prohibit, or declare policy.
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A judge or justice is an official who presides over a court. The powers, functions, method of appointment, discipline, and training of judges vary widely across different jurisdictions.
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A for-profit corporation is a corporation that is intended to operate a business which will return a profit to the owners. A for-profit corporation, depending on the jurisdiction to which it is incorporated, may be operated either as a stock corporation or as a non-stock
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A non-stock corporation is a corporation that does not have owners represented by shares of stock. That type of corporation is called a stock corporation. Instead, a non-stock corporation typically has members, who are the functional equivalent of stockholders in a stock
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A foundation is a legal categorization of nonprofit organizations. Foundations may also and often have charitable purposes. This type of nonprofit organisation may either donate funds and support to other organizations, or provide the sole source of funding for their own charitable
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charitable organization (also known as a charity) is an organization with charitable purposes only. Trusts, foundations, unincorporated associations and in some jurisdictions specific types of companies, may be established for a charitable purpose or may acquire such purpose
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A non-profit organization (abbreviated "NPO", also "non-profit" or "not-for-profit") is a legally constituted organization whose primary objective is to support or to actively engage in activities of public or private interest without any commercial or monetary profit purposes.
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A public company usually refers to a company that is permitted to offer its securities (stock, bonds, etc.) for sale to the general public, typically through a stock exchange.
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A non-profit organization (abbreviated "NPO", also "non-profit" or "not-for-profit") is a legally constituted organization whose primary objective is to support or to actively engage in activities of public or private interest without any commercial or monetary profit purposes.
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Intermediate sanctions is a term used in regulations enacted by the United States Internal Revenue Service that is applied to non-profit organizations who engage in transactions that inure to the benefit of a disqualified person within the organization.
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Eskom
Public utility
Founded 1 March 1923
Headquarters Sandton, South Africa
Revenue ZAR R36 billion (2006)
Employees 32'000
Eskom is a South African electricity public utility, established in 1923 as the
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Public utility
Founded 1 March 1923
Headquarters Sandton, South Africa
Revenue ZAR R36 billion (2006)
Employees 32'000
Eskom is a South African electricity public utility, established in 1923 as the
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Electricity generation is the first process in the delivery of electricity to consumers. The other processes are electric power transmission and electricity distribution which are normally carried out by the electrical power industry.
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Electric power transmission, a process in the delivery of electricity to consumers, is the bulk transfer of electrical power. Typically, power transmission is between the power plant and a substation near a populated area.
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Electricity (from New Latin ēlectricus, "amberlike") is a general term for a variety of phenomena resulting from the presence and flow of electric charge. This includes many well-known physical phenomena such as lightning, electromagnetic fields and electric currents,
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A non-profit organization (abbreviated "NPO", also "non-profit" or "not-for-profit") is a legally constituted organization whose primary objective is to support or to actively engage in activities of public or private interest without any commercial or monetary profit purposes.
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society is a grouping of individuals which is characterized by common interests and may have distinctive culture and institutions. Members of a society may be from different ethnic groups.
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A voluntary association or union (also sometimes called an voluntary organization, unincorporated association, or just an association) is a group of individuals who voluntarily enter into an agreement to form a body (or organization) to accomplish a
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Trust may refer to:
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- Trust (social sciences), a relationship of reliance.
- Trust law, where money or property is owned and managed on behalf of another
- Escrow, where a thing is held in trust until conditions are fulfilled
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Companies law
Basic forms:
Sole proprietorship
Partnership
(General Limited LLP)
Corporation
Cooperative
United States:
Business trust LLC LLLP
Series LLC
Delaware corporation
Nevada corporation
United Kingdom / Commonwealth / Ireland:
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Basic forms:
Sole proprietorship
Partnership
(General Limited LLP)
Corporation
Cooperative
United States:
Business trust LLC LLLP
Series LLC
Delaware corporation
Nevada corporation
United Kingdom / Commonwealth / Ireland:
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A non-profit organization (abbreviated "NPO", also "non-profit" or "not-for-profit") is a legally constituted organization whose primary objective is to support or to actively engage in activities of public or private interest without any commercial or monetary profit purposes.
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In the United States, the First Amendment guarantees freedom of religion, however religious non-profit entities like churches are subject to less rigorous federal filing and reporting requirements than many other tax-exempt organizations.
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For the public agency, see .
A Public benefit nonprofit corporation is a type of nonprofit corporation chartered by a state government.
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A Mutual benefit nonprofit corporation is a type of nonprofit corporation chartered by a state government.
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charity means the giving of help to those in need.
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Etymology
The word "charity" entered the English language through the Old French word "charité" which was derived from the Latin "caritas"...... Click the link for more information.
Philanthropy is the act of donating money, goods, time, or effort to support a charitable cause, usually over an extended period of time and in regard to a defined objective.
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Alms or almsgiving exists in a number of religions. In general, it involves giving materially to another as an act of religious virtue. In Abrahamic religions, alms are given as charity to benefit the poor.
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Tzedakah (Hebrew: צדקה) is a Hebrew word most commonly translated as charity, though it is based on a root meaning justice (צדק).
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Islamic Jurisprudence
– a discipline of Islamic studies
Fields
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– a discipline of Islamic studies
Fields
- Economic
- Zakat
- Jizya
- Nisab
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This article has been tagged since September 2007.
This article has been tagged since September 2007.
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