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In a non-profit corporation, the "agency problem" is even more difficult than in the for-profit sector, because the management of a non-profit is not even theoretically subject to removal by the charitable beneficiaries. The board of directors of most charities is self-perpetuating, with new members chosen by vote of the existing members.
The National Council of Architectural Registration Boards (NCARB) is a nonprofit organization comprising the legally constituted architectural registration boards of the 50 states, the District of Columbia, Guam, the Northern Mariana Islands, Puerto Rico, and the U.S. Virgin Islands as its members. Its mission is to collaborate with licensing ...
Autonomous non-commercial organizations – An autonomous non-commercial organization (ANO) (Article 10, NCO Law) is a non-membership organization undertaking services in the field of education, social policy, culture, etc., which in practice often generates income by providing its services for a fee.
A foundation in the United States is a type of charitable organization. Though, the Internal Revenue Code distinguishes between private foundations (usually funded by an individual, family, or corporation) and public charities ( community foundations and other nonprofit groups that raise money from the general public).
Unlike for-profit corporations that benefit from broad and general purposes, non-profit organizations need to be limited in powers to function with tax-exempt status, but a non-profit corporation is by default not limited in powers until it specifically limits itself in the articles of incorporation or nonprofit corporate bylaws.
A foundation (also referred to as a charitable foundation) is a type of nonprofit organization or charitable trust that usually provides funding and support to other charitable organizations through grants, while also potentially participating directly in charitable activities.
Bernard Witkin's Summary of California Law, a legal treatise popular with California judges and lawyers. The Constitution of California is the foremost source of state law. . Legislation is enacted within the California Statutes, which in turn have been codified into the 29 California Co
By convention, most common law jurisdictions divide the constitutional documents of companies into two separate documents: [1]. the Memorandum of Association (in some countries referred to as the Articles of Incorporation) is the primary document, and will generally regulate the company's activities with the outside world, such as the company's objects and powers.
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