Difference between revisions of "Non-profit corporation"
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| − | A [[non-profit corporation]] (hereinafter, the ''Corp'') is a [[corporation]] | + | A [[non-profit corporation]] (hereinafter, the ''Corp'') is a [[corporation]] cannot distribute its income to the ''Corp's'' shareholders, leaders, or members. Particularly, the ''Corp'' cannot pay any dividends to its stockholders. The ''Corp'' can also be defined as a [[nonprofit organization]] in a form of a [[corporation]]. |
The ''Corp'' itself is not banned from making profit. However, the ''Corp'' must direct its possible surplus of the revenues to further achieve the ultimate objective of the ''Corp''. Those objectives commonly include social, economic, cultural, and/or environmental causes. | The ''Corp'' itself is not banned from making profit. However, the ''Corp'' must direct its possible surplus of the revenues to further achieve the ultimate objective of the ''Corp''. Those objectives commonly include social, economic, cultural, and/or environmental causes. | ||
Revision as of 09:58, 7 November 2019
A non-profit corporation (hereinafter, the Corp) is a corporation cannot distribute its income to the Corp's shareholders, leaders, or members. Particularly, the Corp cannot pay any dividends to its stockholders. The Corp can also be defined as a nonprofit organization in a form of a corporation.
The Corp itself is not banned from making profit. However, the Corp must direct its possible surplus of the revenues to further achieve the ultimate objective of the Corp. Those objectives commonly include social, economic, cultural, and/or environmental causes.
