Not-for-Profit Corporations
Not-for-profit corporations does not seek a profit, in contrast, their goal is to make a difference in people's lives and their communities.
Generate revenues through fund-raising and donations
After paying normal operating expenses such as salaries, rent, purchases of inventory, supplies, and equipment, the remaining revenues are utilised for social or educational goals rather than paying stockholders
Tax exempt status granted by federal and state governments.
Not-for-profit corporations do not issue shares of stock.
Owners (or members) may not receive personal financial benefit from the company's profits except salary