Nonprofit Corporation – a corporation without stockholders, created for or devoted to charitable purposes or supported by charity, usually afforded special tax treatment

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nonprofit corporation:
(1908)

1. A corporation organized for some purpose other than making a profit, and usually afforded special tax treatment. — aka not-for-profit corporation. [1]

1. A corporation ordinarily without stockholders, created for or devoted to charitable purposes or supported by charity; a charitable corporation.  18 Am J2d Corp §§ 10, 460. [2]

1. A nonstock corporation organized for purposes other than making a profit, generally for charitable or educational purposes.  EXAMPLE: A private college or a private university. [3]

References:

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[1] Black’s Law Dictionary Deluxe Tenth Edition by Henry Campbell Black & Editor in Chief Bryan A. Garner. ISBN: 978-0-314-62130-6

[2]: Ballantine’s Law Dictionary with Pronunciations
Third Edition
 by James A. Ballantine (James Arthur 1871-1949).  Edited by William S. Anderson.  © 1969 by THE LAWYER’S CO-OPERATIVE PUBLISHING COMPANY.  Library of Congress Catalog Card No. 68-30931

[3]: Ballantine’s Law Dictionary Legal Assistant Edition by Jack Ballantine (James Arthur 1871-1949).  Doctored by Jack G. Handler, J.D. © 1994 Delmar by Thomson Learning.  ISBN 0-8273-4874-6.

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