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Non-profit organization - Wikipedia, the free encyclopedia A primary difference between a non-profit and a for-profit corporation is that a non-profit does not issue dividends, and may not enrich its directors. Such "organizations" are often charities or service organizations; they may be organized as a not-for-profit corporation or as a trust, a cooperative or they may be purely informal. Although the characteristic of not earning or "making" a profit is widely believed by the general public to be definitive, most experts today agree that it is actually legal and ethical restrictions on the distribution of profits to owners or shareholders that is the defining characteristic of nonprofits. en.wikipedia.org /wiki/Non-profit_organization   (996 words)

Not-for-profit corporation - Wikipedia, the free encyclopedia A Not-for-profit corporation is a corporation created by statute, government or judicial authority that does not issue stock. 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.). One of the problems experienced by such corporations is their inability to fund growth from profits in the way that conventional businesses can. en.wikipedia.org /wiki/Not-for-profit_corporation   (313 words)

FindLaw for Legal Professionals - Case Law, Federal and State Resources, Forms, and Code Any corporation to which this chapter is made applicable by this paragraph shall be treated as a "corporation" or "domestic corporation" as such terms are used in this chapter, except that the purposes of any such corporation formed or formable under such unconsolidated law shall not thereby be extended. A corporation formed by a special act of this state which has as its principal purpose an education purpose and which is a member of the university of the state of New York, is an "education corporation" under section two hundred sixteen-a of the education law. Type B and Type C corporations, whether formed under general or special laws, with their books and vouchers, shall be subject to the visitation and inspection of a justice of the supreme court, or of any person appointed by the court for that purpose. caselaw.lp.findlaw.com /nycodes/c76/a2.html   (3342 words)

Canadian Non-profit incorporation not for profit incorporation Incorporate not-for-profit corporation in Canada A non-profit corporation is a legal entity separate from its members and directors formed for purposes other than generating a profit to be distributed to its members, directors or officers. Non-profit corporations are distinct from business corporations which are formed to make a profit and to distribute the profit to its shareholders. While, a non-profit corporation can earn a profit, the profit must be used to further the goals of the corporation rather than to pay dividends to its membership. www.corporationcentre.ca /docen/home/faq.asp?id=incnp   (1956 words)

Opinion 2000-8 Also, the not-for-for-profit corporation presently does not rent space from the partnership, although in the past the corporation was a tenant of the partnership. You further state that, at the time of the commissioner's appointment, the not-for-profit corporation had a contract with the county to provide home health care services and that, at that time, the commissioner also was a member of the corporation. We note that, as a member of the corporation, the commissioner had an interest in the county's contract with the not-for-profit corporation at the time he was appointed to office (see General Municipal Law §800; 27 Opns St Comp, 1971, p 186). www.osc.state.ny.us /legal/2000/op2000-8.htm   (946 words)

NYS DOS, Corporations, Not-for-Profit Corporation Filings Domestic and foreign corporations are required by Section 202(f) of the Not-for-Profit Corporation Law to conduct their activities under their true legal name in New York State unless it complies with the requirements of Section 130 of the General Business Law (at NYS Senate site) by filing a Certificate of Assumed Name. Section 301 of the Not-for-Profit Corporation Law includes provisions relating to restrictions on the use of certain words and phrases in the name of the corporation. The Division of Corporations has also prepared a booklet "Forming a Not-for-Profit Corporation in New York State." The booklet includes answers to commonly asked questions, names and addresses of other government agencies that a corporation may need to contact, instructions for completing a Certificate of Incorporation, tax information, and fee information. www.dos.state.ny.us /corp/nfpcorp.html   (3233 words)

New York State Ethics Commission Advisory Opinion No. 97-25 In Advisory Opinion No. 95-9, the Commission permitted a policymaker to serve on the board of a not-for-profit corporation even though there were areas of common interest between the agency in which she worked and the corporation. Application of Public Officers Law §74 to the service by a policymaking State employee on the board of directors of a not-for-profit corporation that is licensed by and receives funding from the employee's State agency. [The not-for-profit corporation] also receives funding from the State, which is administered by [the State agency]. www.nysl.nysed.gov /edocs/ethics/97-25.htm   (1945 words)

Government Announces the Introduction of New Legislation Governing Federal Not-For-Profit Organizations Not-for-profit organizations would be categorized as either a "soliciting corporation" (corporations which solicit public donations or receive government funding) or a "non-soliciting corporation". Not-for-profit corporations are essential to the Canadian life and economy. They will have the power to access corporate records (most importantly, the financial statements); access membership lists (subject to certain restrictions); request a meeting and to make proposals; use the oppression remedy and the compliance order to protect their rights; and use the derivative action remedy to enforce the rights of the corporation. www.ic.gc.ca /cmb/welcomeic.nsf/261ce500dfcd7259852564820068dc6d/85256a5d006b972085256f4d0052b5ef!OpenDocument   (1875 words)

BY-LAWS OF A NOT-FOR-PROFIT CORPORATION The seal of the Corporation shall be circular in form and bear the name ofthe Corporation, the year of its organization and the word "SEAL", the words denoting "CORPORATION NOT FOR PROFIT" and the state of incorporation. Corporation, and shall have charge of such books and papers as the board of directors may direct; and shall attend to such correspondence as may be assigned, and perform all the duties incidental to the office. The principal office of the Corporation shall be established and maintained at _____________________ in the City of____________, in Pinellas County, in the State of Florida. www.pinellasarts.org /bylaws.htm   (2171 words)

Thomas R. Mulroy - News Not for profit corporations are governed by the Illinois General Not for Profit Corporation Act of 1986 (hereinafter the "Act"). The power to substantially modify a not-for-profit corporation generally flows from the articles of incorporation and bylaws, vesting in members or directors the authority to merge, dissolve or change the corporation's leadership. 2d 50 (5th Dist. 1965) (directors of not for profit corporations are charged with the same degree of loyalty as directors of for profit corporations). www.tommulroy.com /news/1expanded.asp   (1104 words)

Incorporation (Not-For-Profit Corporations) The by-laws of a not-for-profit corporation are passed by the directors and govern the conduct of affairs of the corporation (e.g. A not-for-profit corporation comes into existence on the date of the letters patent incorporating it (S.12 (1)).  The Letters Patent take effect on the date set forth therein (S.12 (2)) and are dated when all the required documents are received and complete. A board of directors manages the affairs of a not-for-profit corporation.  The board must consist of a fixed number of directors, not fewer than three and each director must be at least eighteen years of age (S.283 (1), S.283 (2), S286 (4)). www.cbs.gov.on.ca /mcbs/english/5HTTDJ.htm   (885 words)

Opinion 88-74 A soldiers' monument corporation is described in that section as a corporation formed for the purpose of erecting and maintaining a monument or memorial to perpetuate the memory of persons who served in the armed services of the United States in any war in which the United States has been engaged (Not-For-Profit Corporations Law, §1405[a]). You advise that a Vietnam Veterans Memorial Committee, a not-for-profit corporation, is currently seeking contributions to erect a permanent monument to honor those residents of a county who lost their lives in the Vietnam War. Therefore, it may be argued that a private entity, although constituted as a corporation and not an association, would be included within the term "monument association", and that municipalities could contribute public funds to the entity for the purpose of erecting and maintaining a memorial monument for veterans pursuant to General Municipal Law, §72. www.osc.state.ny.us /legal/1988/op88-74.htm   (779 words)

Procedures For Forming And Changing Not-For-Profit Corporations In New York State Type C Corporations are business corporations that function as or meet the definition of a "not-for-profit corporation" as set forth in §102(a)(5) of the N-PCL. SECOND: The Corporation is a corporation as defined in subparagraph (a) (5) of Section 102 of the Not-for-Profit Corporation Law. This means that although the corporation may be organized for a purpose normally carried on by business corporations for profit, its purpose must be non-pecuniary, that is it must be formed with an objective other than the making of money. www.oag.state.ny.us /business/not_for_profit.html   (3402 words)

Illinois Associations & Nonprofit Law Most nonprofit corporations in Illinois are governed by the General Not for Profit Corporation Act of 1986, with administrative authority granted to the Secretary of State. Forming a tax-exempt, nonprofit corporation is a fairly complex endeavor that requires time, money, and an understanding of legal and tax technicalitiesall of which may be scarce in organizations that would most likely benefit from tax-exempt treatment and not-for-profit status. All or most of the money made by a tax-exempt, not-for-profit corporation is free from federal, state, and local taxation, so the organization can devote a larger share of its funds to the purpose for which it was formed. www.weblocator.com /attorney/il/law/assocnon.html   (2997 words)

Afrocracy - A Not for Profit Organization Afrocracy is a not for profit corporation dedicated to improving the quality of life for people, communities and nations through projects that enhance economic progress, educational excellence, technology advancement, political freedom, human rights, and peace. www.afrocracy.org   (35 words)

The neighborhood's not for profit corporation, FPSECC. The FPSE Community Council was chartered on April 18, 2001 as a Missouri not for profit, public purpose corporation. The purpose of the corporation is to continuously improve the neighborhood for all the residents, institutions, and organizations of the Forest Park Southeast Neighborhood. The corporation's articles allow it to qualify it as a tax exempt organization under section 501(c)(3) of the Internal Revenue Code. stlouis.missouri.org /forestparksoutheast/corporation   (270 words)

A Brief Guide to Forming a Not-for-Profit Creating a not-for-profit corporation is a bit like building your own swimming pool – it's a surprisingly complicated job and you won't know what works until it's too late. Unfortunately, creation of an Illinois not-for-profit corporation, by itself, does not entitle your organization to any form of tax exemption. Most successful projects begin with the simple question, "What do I want to accomplish?" Creating and operating a not-for-profit corporation can have many advantages (limiting personal liability and obtaining an exemption from payment of certain taxes being the two most obvious), but these benefits come at a price. www.nfconline.org /main/info/guides_forming.htm   (1930 words)

Not For Profit As a not-for-profit organization, ARH does not have stockholders; our corporation is "entrusted" to a group of men and women who serve as voluntary members of the ARH Board of Trustees, setting the course of our organization and making certain that ARH fulfills its mission. Investor-owned, or for-profit, hospitals are not tax-exempt institutions because they are not required to be available to all members of the community and are not operated exclusively for charitable purposes. As a not-for-profit entity, ARH does not avoid worthwhile projects simply because they are not financially profitable. www.arh.org /notforprofit.php   (259 words)

NYS DOS; Division of Corporations, State Records and UCC; Not-for-Profit Corporation Filings List To withdraw the foreign corporation's authority to conduct activities in NYS For a foreign corporation to become authorized to conduct activities in NYS To discontinue the existence of an authorized foreign corporation www.dos.state.ny.us /corp/nfpfile.html   (255 words)

Not-for-Profit Corporation - Pros and Cons - Incorporate at MyCorporation.com A nonprofit corporation, like a for-profit corporation, is an entity with a perpetual existence that may outlive all of its founders. As with a General, for-profit corporation, directors, trustees, and officers of non-profit corporations are usually afforded the same limited liability status. Although, with proper planning and filing, your nonprofit corporation should be tax exempt for certain taxes, your corporation may still be required to file informational returns and annual reports to the state and federal governments...and don't forget about employee withholding taxes. www.mycorporation.com /nonprofitadv.htm   (691 words)

WHEATON CODE OF ORDINANCES: Sec. 2-429. Not-for-profit corporation. Such not-for-profit corporation shall be an independent entity of the city and the sister city commission, but it is intended that the two organizations shall have consistent goals and shall cooperate with each other wherever legally possible. The city shall not be a direct participant in any not-for-profit corporation as contemplated in section 2-428. Any action which shall in any way involve city funds with regard to such not-for-profit corporation shall be specifically and publicly considered by the city council. www.wheaton.il.us /Government/City-Opera/Wheaton-Ci/Wheaton-Co/Wheaton-IL-Code--HTML-Database-/10205036.HTM   (98 words)

Councilmember Kathryn Freed letter to NYS Attorney General Dennis Vacco Although it is a not-for-profit corporation, pursuant to its by-laws, the CACC's seven member Board of Directors includes as ex-officio members three commissioners of City agencies -- the Commissioner of DOH, the Commissioner of the Department of Sanitation and the Deputy Commissioner for Community Affairs at the New York City Police Department. Section 706 of the Not-for-Profit Corporation Law appears to reserve to a particular not-for-profit corporation's board members or directors the power to remove a director. The CACC was incorporated on August 23, 1994, under Section 402 of the New York State Not-For-Profit Corporation Law for "the public and charitable purposes of providing animal care and control services in the City of New York. www.shelterreform.org /Vacco.html   (457 words)

The Illinois Prairie Path - a not-for-profit Corporation ABOUT THE ILLINOIS PRAIRIE PATH The Illinois Prairie Path Corporation is a private Illinois not-for-profit 501(c)(3) corporation and all membership contributions made to the corporation are tax deductible. The Illinois Prairie Path - a not-for-profit Corporation The IPPc’s all-volunteer board of directors uses the membership dues for projects and trail amenities. www.ipp.org /GUI/about_ipp.htm   (301 words)

Steps in Organizing a Not-for-Profit Corporation Before actually commencing the process of organizing a not-for-profit corporation, we strongly urge you to consult both an accountant and an attorney as there are many intricacies in the process and a number of obligations in maintaining such an organization. Before proceeding to organize a not-for-profit corporation, it is essential that you decide whether you wish to apply for federal income tax exemption. It is important that the individuals working for a corporation are not subjected to liability on behalf of the corporation. www.ila.org /trustees/reference/giving/nfp_corp.htm   (2036 words)

FL Dept Rev - Registering a not for profit business Not-for-profit organizations intending to solicit contributions from the public at Florida highway rest stops must obtain permission from their local DOT Maintenance Unit by completing form #850-040-70, Permit Application for Public Use of Rest Areas, Wayside Parks and Solicitation on State Highways. Certain not-for-profit organizations are exempt from sales and use tax on purchases and rentals of tangible personal property if that property is used in carrying out the organization's not-for-profit activities. Please note that whether or not a not-for-profit entity is exempt from Florida's sales and use taxes has no impact or bearing on whether it will be exempt from Florida's other taxes such as intangibles tax, ad valorem tax or corporate income tax. sun6.dms.state.fl.us /dor/businesses/nonprofit.html   (401 words)

NOT-FOR-PROFIT CORPORATION Whether your corporation is a for-profit or not-for-profit, a small corporation or a multi-million dollar corporation, all have Bylaws and all carefully follow the Bylaws. Bylaws are the rules under which your not-for-profit corporation shall operate. The cost to incorporate your not-for-profit organization is currently $70.00 ($35.00 to have the document filed with the Secretary of State and $35.00 to file a Registered Agent's name). www.pinellasarts.org /not-for-profit.htm   (1410 words)

Culinary Institute of America-Not-For-Profit Educational Corporation Prospective Students > About The CIA > Not-For-Profit Educational Corporation This not-for-profit status distinguishes the Institute from others because it enables us to focus on the quality of education rather than on satisfying the investment expectations of shareholders. The Culinary Institute of America is an independent, not-for-profit educational organization [Section 501 (c) (3)] pursuing its mission of providing the highest quality culinary education. www.ciachef.edu /admissions/about/notforprofit.asp   (97 words)

Proposal by XYZ to Form a Not-for-profit Corporation to Act as its Insurance Broker. XYZ is seeking legal advice from its own counsel as to its authority, as a tax-exempt nonprofit association that is a municipal cooperative, to form ABC as a not-for-profit, tax-exempt, corporation. RE: Proposal by XYZ to Form a Not-for-profit Corporation to Act as its Insurance Broker. Proposal by XYZ to Form a Not-for-profit Corporation to Act as its Insurance Broker. www.ins.state.ny.us /rg110243.htm   (1736 words)

Liability of Board Members for a Not-for-Profit-Corporation One of the results of the increasing unavailability of insurance was the hesitancy of citizens to accept positions as uncompensated officers and directors of not-for profit corporations. For purposes of this section, such a director, officer or trustee shall not be considered compensated solely by reason of payment of his or her actual expenses incurred in attending meetings or otherwise in the execution of such office. (4) Upon payment to the corporation of the claim of the attorney general or of any creditor by reason of a violation of subparagraph (a) (4), to be subrogated to the rights of the corporation against any person who received an improper distribution of assets. www.ins.state.ny.us /rg203061.htm   (966 words)

Here's information about our not for profit corporation or company record keeping ! The Yearly Update is designed to provide the necessary record keeping for inactive corporations for each Annual Meeting after the First Annual Meeting where directors, officers, and business has not changed from year to year because the corporation is basically inactive. However, neither Growth And Development Services Corporation nor any personnel nor staff member nor affiliation associated therewith is responsible for any errors or omissions, or for the results obtained from the use of this data. The Corporate Shield is designed to provide the complete record keeping for a brand new or undocumented corporation. members.fortunecity.com /gadsc/ninfo.htm   (455 words)

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