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Simple English definitions for legal terms

nonprofit corporation

Read a random definition: Copyright Act of 1909

A quick definition of nonprofit corporation:

A nonprofit corporation is a type of organization that is created to do good things for the community, not to make money. Each state has its own rules for how nonprofit corporations are set up and run. Nonprofit organizations can have many different purposes, like helping people who are poor, teaching people new things, or supporting religious groups. There are different types of nonprofit corporations, like ones that help the public, ones that help their own members, and ones that are religious. Nonprofit corporations can also get special tax breaks from the government if they meet certain requirements.

A more thorough explanation:

A nonprofit corporation is a type of legal entity that is created under state laws to operate for purposes other than making profits. This means that the organization is not focused on making money for its owners or shareholders, but rather on achieving a specific mission or goal that benefits the community.

Nonprofit organizations can have a wide range of purposes, such as:

  • Relieving poverty
  • Advancing education
  • Promoting health
  • Supporting religious or spiritual activities
  • Advocating for social or political causes

Nonprofit corporations are governed by state laws, which can vary depending on the state. Some states have adopted a model law developed by the American Bar Association, while others follow for-profit business laws.

There are different types of nonprofit corporations, including:

  • Public Benefit Corporations: These are formed for public or charitable purposes and cannot benefit any private person.
  • Mutual Benefit Corporations: These are formed to benefit their own members, such as private clubs or homeowners' associations.
  • Religious Corporations: These are formed for religious purposes.

Nonprofit corporations can qualify for tax-exempt status under section 501(c)(3) of the Internal Revenue Code. This means that they do not have to pay federal income taxes on their earnings, and donors can receive tax deductions for their contributions.

For example, a nonprofit corporation called "Habitat for Humanity" is dedicated to building affordable housing for low-income families. Another nonprofit called "Doctors Without Borders" provides medical care to people in crisis situations around the world. Both of these organizations are focused on achieving a specific mission that benefits the community, rather than making profits for their owners or shareholders.

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General

General chat about the legal profession.
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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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