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Besides, there are 330 municipal corporations in eight divisions of Bangladesh. A city corporation is a stronger body than a municipal corporation. This is because a city corporation consists of a metropolitan city of a district, and a municipal corporation consists of a municipal area of a sub-district. [4] [5]
A municipally owned corporation is a corporation owned by a municipality.They are typically "organisations with independent corporate status, managed by an executive board appointed primarily by local government officials, and with majority public ownership."
In Trinidad and Tobago, "municipality" is usually understood as a city, town, or other local government unit, formed by municipal charter from the state as a municipal corporation. A town may be awarded borough status and, later on, may be upgraded to city status.
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]
In some jurisdictions in the United States, a CDC is by definition targeted towards direct investment in the community, while a "community development advocacy organization" is a category eligible for recognition as a tax-exempt charity or service organization.
A not-for-profit or non-for-profit organization (NFPO) is a legal entity that does not distribute surplus funds to its members and is formed to fulfill specific objectives. [ 1 ] [ 2 ] While not-for-profit organizations and non-profit organizations (NPO) are distinct legal entities, the terms are sometimes used interchangeably. [ 3 ]
The National Civic League was founded as the National Municipal League in 1894 at the National Conference for Good City Government in Philadelphia. [5] [6] The convention of politicians, policy-makers, journalists, and educators (including Theodore Roosevelt, Louis Brandeis, Marshall Field, and Frederick Law Olmsted) met to discuss "incompetence, inefficiency, patronage and corruption in local ...
After a nonprofit organization has been formed at the state level, the organization may seek recognition of tax-exempt status with respect to U.S. federal income tax. That is done typically by applying to the Internal Revenue Service (IRS), although statutory exemptions exist for limited types of nonprofit organization. The IRS, after reviewing ...