A nonprofit corporation is an organization legally constituted and operated to serve a public or mutual benefit, rather than to pursue or distribute profits to its directors, members, or shareholders.
A not-for-profit organization (NFP) is an entity formed for purposes other than generating a profit and where no part of the organization's income is distributed to its members, directors, or officers.
A tax-exempt social club is organized for pleasure, recreation, and other nonprofitable purposes where substantially all activities are for such purposes. None of the net earnings benefit any private shareholders.
