Non-profit Corporations

Any business that dedicates itself in furthering any particular social cause or advocates a shared point is called a non-profit corporation. Corporations like these are usually formed for religious, educational, charitable, literary, or scientific purposes.

Nonprofit corporations are exempt in paying federal or state income taxes on profits they make from any activity that aims to further their cause. Because the mission of nonprofit corporations is aimed for the good of the public, they are eligible for benefits that are not accorded to corporations that operate to gain profits. Directors, officers, and members of nonprofit corporations also enjoy the benefit of being protected from personal liabilities.