Federal Corporation
Select Types of Business In Federal Want to Incorporate
Federal Standard Corporation
Not for Profit
What is Corporation ?
Corporation is a single entity which may be composed of individuals or a company, but is separate from its owners. Among the most important features of a corporation is limited liability, which means that its owners can participate in the share of profits, but not the corporation’s liabilities. Along with limited liability, corporations possess the ability to own assets, enter contracts, sue or be sued, and borrow money. The creation of a corporation occurs following the proper filing of Articles of Incorporation (also called a Charter or Certificate of Incorporation) with the relevant government department or authority. Every corporation is composed of shareholders, directors and officers. The directors are responsible for supervising and managing the corporation’s affairs.
What is Not For Profit ?
There are countless organizations and charities that work to help individuals or communities in need. These types of organizations are typically considered not-for-profit. A not-for-profit organization does not earn any profits for its owners. Instead, the organization donates the money it receives to help fund the organization’s objectives and goals. A not-for-profit might also use received donations to stay up and running.