nonprofit corporation

Definition of "nonprofit corporation"
  1. A state-approved organization operating for non-commercial purposes, such as education, charity, or religion, that may qualify for tax exemptions under specific conditions
How to use "nonprofit corporation" in a sentence
  1. The library was funded by a nonprofit corporation dedicated to literacy.
  2. After her retirement, she decided to start her own nonprofit corporation to support social causes.
  3. The nonprofit corporation was granted a tax exemption due to its work in education.

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