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A mutual-benefit nonprofit corporation or membership corporation, in the United States, is a type of nonprofit corporation chartered by a state government that exists to serve its members in ways other than obtaining and distributing profits to them. Therefore, it cannot obtain IRS 501(c)(3) non-profit status as a charitable organization. [4] [5]
German regulations allow the creation of any foundation for public or private purposes in keeping with the concept of a gemeinwohlkonforme Allzweckstiftung ("general-purpose foundation compatible with the common good"). A foundation should not have commercial activities as its main purpose, but they are permitted if they serve the main purpose ...
Logo of the United Nations Children's Fund (UNICEF), an organization of the United Nations. A nonprofit organization (NPO), also known as a nonbusiness entity, [1] nonprofit institution, [2] or simply a nonprofit, [a] is a legal entity organized and operated for a collective, public or social benefit, as opposed to an entity that operates as a business aiming to generate a profit for its owners.
While not-for-profit organizations and non-profit organizations (NPO) are distinct legal entities, the terms are sometimes used interchangeably. [3] An NFPO must be differentiated from a NPO as they are not formed explicitly for the public good as an NPO must be, and NFPOs are considered "recreational organizations", meaning that they do not ...
The public support must be fairly broad, not limited to a few individuals or families. Public charities are defined in the Internal Revenue Code under sections 509(a)(0) through 509(a)(4). [9] A private foundation, sometimes called a non-operating foundation, receives most of its income from investments and endowments. This income is used to ...
From an academic perspective, social enterprise is, for the most part, considered a sub-set of the nonprofit sector as typically they too are concerned with a purpose relating to a public good. However, these are not bound to adhere to a nonprofit legal structure, and many incorporate and operate as for-profit entities.
For this reason it is prudent for any non-profit to obtain liability insurance. Non-profits which have paid staff must comply with minimum wage laws, and with the requirement in most states to obtain workers compensation insurance. Churches and religious non-profits are something of a special case, because the First Amendment to the U.S ...
A public-benefit nonprofit corporation [1] is a type of nonprofit corporation chartered by a U.S. state government, and organized primarily or exclusively for social, educational, recreational or charitable purposes by like-minded citizens.