Nonprofit Corporation in United States

Plain-English Law

Nonprofit Corporation as defined by Nolo’s Encyclopedia of Everyday Law (p. 437-455):

A business structure that allows people to come together to obtain support for an organization (such as a club) or for some public purpose (such as a hospital or environmental organization). Nonprofits receive benefits for instance, reduced filing fees and tax exemptions that are not available to regular corporations.

Nonprofit Corporation in the context of Real Estate

Resurces

See Also

• Eleemosynary Corporation

Definition of Revised Model Nonprofit Corporation Act

A concept of Revised Model Nonprofit Corporation Act applicable in the United States: The Revised Model Nonprofit Corporation Act was adopted in 1987 by the American Bar Association to encourage all states to modernize and harmonize their laws governing nonprofit corporations. The model act lays out requirements for the formation and dissolution of a nonprofit corporation, as well as for multiple aspects of corporate governance, including the duties of board members. States may adapt or use the model act when drafting their own laws. It has been adopted in whole or modified form by 23 states and the District of Columbia. The original Model Nonprofit Corporation Act (issued in 1952) has been adopted in whole or in modified form by six other states.

Resources

See Also

• Charity
• Foundation
• NGOs