A non-profit corporation is a company or organization formed for purposes other than making a profit. Like standard for-profit corporations, non-profits provide limited liability protection. The personal assets of directors and officers typically cannot be used to satisfy the debts or liabilities of the non-profit. Non-profit corporations are formed pursuant to different state laws than standard for-profit corporations, but the process of forming a non-profit is very similar. Non-profit corporations offer several benefits such as: limited liability protection, access to grants, tax-exempt status and tax-deductible donations. For tax purposes, the non-profit corporation must be formed for religious, charitable, scientific, educational or literary purposes in order to claim the non-profit tax-exempt status.
To learn more, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.