Non-Profit Organization

A Non Profit Organization, or non profit for short, is an incorporated organization which exists for educational or charitable reasons, and from which its shareholders or trustees do not benefit financially. A primary difference between a nonprofit and a for-profit corporation is that a nonprofit does not issue stock or pay dividends. When setting up a non profit organization, it is recommended to consult a nonprofit law attorney, an experienced accountant or a professional 501c consulting service. When creating and operating a non-profit organization, the advice and counsel of lawyers fully experienced in IRS regulations and the state and federal regulations that govern the operations of non profit organizations is beneficial.