Non-profit corporations explained

Non-profit corporations explained

Non-profits are formed to pursue a common goal and are often dedicated to advocating for a specific group or furthering a specific social cause operating for the benefit of others.

A non-profit corporation can be a church or church association, school, charity, activity clubs, volunteer services organization, professional association, research institute, museum, or in some cases a sports association. Its objective is not to make money for its members. A non-profit organization uses its surplus revenues to further achieve its purpose or mission, rather than distributing its surplus income to the organization's members as profit.

It’s important to note that a non-profit organization needs to apply with the Canada Revenue Agency to qualify as a charity to be able to issue tax deductible receipts.

To order or learn more about not for profit organizations click here.



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