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Nonprofits

Nonprofits
1.	Definition of a Nonprofit Corporation
2.	Reasons to Form a Nonprofit Corporation
3.	Comparing a Nonprofit to an LLC or Corporation
4.	Tax Exemption for Nonprofits
5.	Commercial Rights of Nonprofits
6.	Managing a Nonprofit Corporation
7.	Membership in a Nonprofit
8.	501(c)(3) Tax Exemption for Nonprofits
9.	Other Types of Nonprofits
10.	Applying for Tax Exempt Status
11.	Operating a Nonprofit Corporation
12.	Checklist for New Nonprofit Corporations

1. Definition of a Nonprofit Corporation

A Nonprofit corporation is a special type of corporation that has been organized to meet specific tax-exempt purposes. To qualify for Nonprofit status, your corporation must be formed to benefit: (1) the public, (2) a specific group of individuals, or (3) the membership of the Nonprofit.

Examples of Nonprofits include: religious organizations, charitable organizations, political organizations, credit unions and membership clubs such as the Elk's Club or a country club.

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