Nonprofit Corporation

A nonprofit corporation is an organization created to pursue a specific mission or purpose, often focused on social, educational, or charitable goals rather than making a profit. Instead of distributing earnings to shareholders, any surplus funds are reinvested into the organization's activities to further its mission. Nonprofits can receive tax-exempt status, allowing them to operate without paying certain taxes and enabling donors to make tax-deductible contributions. Common examples include charities, educational institutions, and cultural organizations, all working to benefit the public or a specific community.