Yes, a Nonprofit Corporation may generate a profit. Non-profit does not literally mean that a Corporation cannot make a profit. A Nonprofit Corporation can acquire more income that it spends on its exempt purpose. This profit can be utilized for operating expenses, including salaries. However, a Nonprofit Corporation may not utilize its income to profit any director or officer.
Articles in this section
- What are the Differences Between Officers, Directors and Shareholders?
- Am I Required to Hold Corporate Meetings?
- How is a Corporation Managed?
- Is “Nonprofit” the Same as “Tax-Exempt”?
- How many Directors or Officers are Nonprofit Corporations required to have?
- May a Nonprofit Corporation Pay Compensation to its Officers, Directors and/or Employees?
- Where Should I Form my Nonprofit Corporation?
- How do I Choose a Name for my Nonprofit Corporation?
- What Steps Need to be Taken to Form a Nonprofit Corporation?
- What is a Nonprofit Corporation?