Unlike regular corporations, a nonprofit corporation cannot distribute any profits to its members, contribute money to political campaigns or engage in lobbying activity, except in very limited circumstances. Ending a Nonprofit Corporation Nonprofits are not actually owned by anyone and therefore cannot be sold. If the directors of a nonprofit corporation decide to dissolve it, they must pay off all debts and obligations of the nonprofit and distribute all of its assets to another tax-exempt nonprofit corporation. Get the legal lowdown on what makes a nonprofit corporation exempt from federal income taxes with this user-friendly eGuide. The definitive guide to forming and running a California nonprofit.
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This guide will show you how to choose, register and protect a great URL for your site. Related Articles Related Products Nonprofit Corporations FAQ Answers to your most frequently asked questions about nonprofit corporations. Here's some information to help you decide. Here's a summary of what you need to do. Running Your Nonprofit Corporation Learn how to protect your tax-exempt status while running a successful nonprofit.