That confuses the qualifying legal requirements for some types of corporations with the basic definition of any type of corporation: An entity that has http://dictionary.reference.com/browse/corporation" [Broken] My example shows the definition in play, and applies to any type of corporation. The fact that there are many different type of non profit corporate charters that grant additional tax benefits, etc, does not change the basic idea of what a corporation is.
Why cherry pick the definition?
I think that creates more confusion than defining non profits. Better to post the entire definition and highlight. (not everyone clicks links)
an association of individuals, created by law or under authority of law, having a continuous existence independent of the existences of its members, and powers and liabilities distinct from those of its members.
I prefer the informal definition:
Informal. a paunch; potbelly.
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