What
is a nonprofit charitable organization?
A
nonprofit organization is one formed for some purpose other than
to make a profit. There are many kinds of nonprofit organizations,
yet the shared characteristic of charitable ones is that they
exist to provide a service to the general public or a
significantly large segment of the population.
Examples of nonprofit
charitable corporations include adult literacy programs, visiting
nurse associations, child and family services, and cultural and
arts organizations.
For
the purposes of this summary, references to nonprofit and/or
charitable organizations or corporations presume that such groups
will:
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1.
Incorporate as nonstock, nonprofit organizations
under Connecticut law.
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2.
Apply for federal tax-exempt status. |
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