What is a Nonprofit Corporation? - Definition & Example


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question 1 of 3

Which of the following is NOT a characteristic of a nonprofit corporation?

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1. A _____ may make a profit, but wasn't established for the purpose of being for-profit.

2. What section of the Internal Revenue Code provides information on how to create a nonprofit corporation?

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About This Quiz & Worksheet

Use this quiz and worksheet to ascertain your knowledge of nonprofit organizations. To be successful on these assessments, you must be aware of what nonprofits do and how they are run.

Quiz & Worksheet Goals

Information regarding nonprofit corporations you'll be assessed on includes:

  • Characteristics
  • Benefits
  • Examples
  • The section of the Internal Revenue Code which states how to create one

Skills Practiced

  • Information recall - access the knowledge you've gained regarding the type of organization that can make a profit, but has a sole purpose that is not being for-profit
  • Knowledge application - use your knowledge to answer a question requiring the identification of an example of a for-profit corporation
  • Reading comprehension - ensure that you draw the most important information from the lesson on nonprofit corporations

Additional Learning

The lesson, What is a Nonprofit Corporation? - Definition & Example, will teach you about this specific type of corporation. After completing the lesson, you should be able to do the following:

  • Discuss the types of services usually provided
  • Compare and contrast with for-profit corporations
  • Name the type of individuals who usually run these businesses