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Simple English definitions for legal terms

non-profit corporation

Read a random definition: waiver of immunity

A quick definition of non-profit corporation:

A non-profit corporation is a type of organization that is approved by the state to operate for educational, charitable, social, religious, civic, or humanitarian purposes. It is formed by a group of people called incorporators, who appoint a board of directors and officers to run the organization. Unlike a regular corporation, a non-profit corporation does not have shareholders who receive profits. Instead, any money earned is used to further the organization's mission. The people who work for the organization, such as the officers and management, may receive reasonable salaries for their services. When a non-profit corporation is dissolved, its assets must be given to another organization with similar goals. To be recognized as a non-profit corporation by the government, the organization must apply for a special status and file annual tax returns. The government also has the power to make sure the organization is following the rules and not using its resources for personal gain.

A more thorough explanation:

A non-profit corporation is an organization that is approved by the state's Secretary of State and taxing authority to operate for educational, charitable, social, religious, civic, or humanitarian purposes. It is formed by incorporators, has a board of directors and officers, but no shareholders. The purpose of a non-profit corporation is to serve the community and not to make a profit.

  • A charity that provides food and shelter to the homeless
  • A school that provides education to underprivileged children
  • A religious organization that provides spiritual guidance and support to its members
  • A community center that provides recreational activities and services to the community

These examples illustrate the definition of a non-profit corporation because they are all organizations that operate for a specific purpose that benefits the community. They do not have shareholders and any profits made are used to further their mission rather than being distributed to individuals.

In order to be recognized as a non-profit corporation, the organization must apply for approval from the state and the IRS. They must also file annual tax returns and ensure that they are abiding by state laws and regulations.

non-feasance | non-suit

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18:13
Babycat are you drinking the chemical waters
BulbasaurNoLikeCardio
18:13
Told them this is ridiculous and they took $140 off so my patience has been bought. Now I need to find another distraction from this shitty teacher
18:13
Original price was 460 they just ripped ya off
18:13
jk that is nice
babycat
18:14
@EvolBunny: I love fluoride 😍😍😍
18:14
omg me too
BulbasaurNoLikeCardio
18:15
@EvolBunny: I am fine with them making their cut and all that but I bought it with an adjustable gas block, new LVPO and foregrip so I just have a bunch of parts and ammo with no way to shoot it
@BulbasaurNoLikeCardio: i mean getting paid for their incompetence is based
18:15
they think you are going to attack dj trump
BulbasaurNoLikeCardio
18:18
@BulbasaurNoLikeCardio: they blaimed it on their IT team for not updating it as out of stock when I paid but like buying something in stock in September then being told I won't get it until mid January is pretty wild. I do not hunt anymore but their mistake would of caused me to miss the entire season. If it wasn't so hard to get left handed ARs I would of gone elsewhere
oh that's kind of worth more than $140
that's at least $300
18:19
@BulbasaurNoLikeCardio: what you gonna do when january hits and they are like "it still isnt here come back in april"
BulbasaurNoLikeCardio
18:20
Its a $600 part, they already covering shipping and paying the tax so $140 is an additional 25% off.
BulbasaurNoLikeCardio
18:20
If it doesn't come January I am going to just say fuck it and toss everything on the right handed upper and just eat gas.
18:21
You should have said to refund you or give 300 off
18:21
wasp is wasp
18:21
knows how be rich and demand shit lmfao
i am atheist not protestant
18:22
same thing tho ya? - catholic
BulbasaurNoLikeCardio
18:23
Ill just keep arguing for more money off until I get it or they end up paying me to take it lmao
18:24
what other guns ya got
are we losing hope for gtown lol
yeah i dont think gtown does A's this late unfortunately
18:25
it is like 630 on a friday there bud
18:25
think it is safe to say it aint happenin today\
damn it was a slow day today
BulbasaurNoLikeCardio
18:26
I got a custom built Leftie ar15 I run suppressed, a regular ar15, a .270 axis savage bolt gun, xd9, xd40 and have my AR10 I run suppressed.
BulbasaurNoLikeCardio
18:26
I do not think we will see a wave until after thanksgiving. Adcoms will be nice and not ruin someones thanksgiving with an R
18:28
ruin my thanksgiving law schools uwu
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