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In New York State, all charter schools are non-profit educational institutions with distinct Boards of Trustees (501c3). Board members must remain independent of any for-profit entity connected with the school, according to both state and federal law. However, in some cases, those boards may contract with a management company.
The New York State Constitution, Art.X, sec. 5, provides that public benefit corporations may only be created by special act of the legislature. In City of Rye v. MTA, 24 N.Y.2d 627 (1969), the court of appeals explained that "The debates of the 1938 Convention indicate that the proliferation of public authorities after 1927 was the reason for the enactment of section 5 of article X....
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.
A 501(c) organization is a nonprofit organization in the federal law of the United States according to Internal Revenue Code (26 U.S.C. § 501(c)). Such organizations are exempt from some federal income taxes. Sections 503 through 505 set out the requirements for obtaining such exemptions.
It sets out the requirements for formation, membership, governance, financial reporting, and dissolution of associations. Nonprofit organizations are required to register with the local authorities to obtain legal recognition and must comply with reporting obligations as stipulated by the law. [2]
Pages in category "Non-profit organizations based in New York City" The following 200 pages are in this category, out of approximately 483 total. This list may not reflect recent changes .
Non-profit organizations based in New York City (9 C, 481 P) B. Boy Scout councils in New York (state) (15 P) H. Historical societies in New York (state) (3 C, 24 P) M.
At the end of fiscal year 2015, DASNY's outstanding debt was more than $47 billion. Of this amount, $32 billion was issued on behalf of New York and its municipalities; $10 billion for independent colleges and universities and other non-profit organizations; and $4.9 billion for non-profit health care organizations. [2]
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