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In a non-profit corporation, the "agency problem" is even more difficult than in the for-profit sector, because the management of a non-profit is not even theoretically subject to removal by the charitable beneficiaries. The board of directors of most charities is self-perpetuating, with new members chosen by vote of the existing members.
In Algeria, nonprofit organizations are regulated by Law No. 12-06 of 12 January 2012 on Associations. This law provides guidelines for the establishment, registration, and operation of nonprofit organizations. It sets out the requirements for formation, membership, governance, financial reporting, and dissolution of associations.
The Columbus Division of Police (CPD) is the primary law enforcement agency for the city of Columbus, Ohio, in the United States.It is the largest police department in Ohio, and among the twenty-five largest in the United States.
Financial reporting There are differences in financial reporting requirements between 501(c)(3) and 501(c)(4) organizations. 501(c)(3) organizations must provide detailed financial information through the IRS Form 990, which is publicly available. This transparency helps maintain accountability and trust in the nonprofit sector.
By contrast, certain other nonprofit organizations are not considered non-partisan: 501(c)(4) organizations, which are tax-exempt, are operated exclusively for promoting social welfare, or local organizations with membership limited to a particular company, municipality, or neighborhood, and which devote their earnings to charity, education, or recreation. [9]
The predecessor of IRC 501(c)(6) was enacted as part of the Revenue Act of 1913 [88] likely due to a U.S. Chamber of Commerce request for an exemption for nonprofit "civic" and "commercial" organizations, which resulted in IRC 501(c)(4) for nonprofit "civic" organizations and IRC 501(c)(6) for nonprofit "commercially-oriented" organizations. [77]