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Articles of Incorporation of Homeowners Association The undersigned, (Names and Addresses of Incorporators) for the purpose of forming a nonprofit corporation under the (name of state) (name of states.

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While for-profit businesses show owner's equity made up of retained earnings and stock. Nonprofits do not have owners. As a result, nonprofits do not nave owner equity. In both cases, net assets equal the difference between the total assets and total liabilities.

No one person or group of people own a nonprofit organization. Ownership is the major difference between a for-profit business and a nonprofit organization. For-profit businesses can be privately owned and can distribute earnings to employees or shareholders.

This type of corporation is very different from the above-mentioned for-profit corporation. A nonprofit corporation has no owners (shareholders) whatsoever. Nonprofit corporations do not declare shares of stock when established. In fact, some states refer to nonprofit corporations as non-stock corporations.

A non-profit organization does not have any stock by definition. Nonprofits are able to have “members”, however, these members are not beneficial owners. Members in a non-profit do not receive any financial benefit from the organization's operations. The terms “non-stock” and “non-profit” are easy to conflate.

A nonprofit corporation is an organization formed as a corporation for purposes other than generating a profit, and in which no part of the organization's income is distributed to its directors or officers.

There are other important distinctions between these two types of entity, but neither of them have “owners.” Instead of owners, nonprofits have stakeholders. Stakeholders don't own the nonprofit, either, and their position relative to the nonprofit is quite different from, say, a for-profit corporation's shareholders.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232