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| Subject:
the signifance of the name of a nonprofit corporation.
Category: Miscellaneous Asked by: toby2165-ga List Price: $15.00 |
Posted:
16 Jan 2005 17:10 PST
Expires: 15 Feb 2005 17:10 PST Question ID: 458340 |
What is the difference between a non-profit corporation called an "Association" and one called a "Trust"? |
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| There is no answer at this time. |
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| Subject:
Re: the signifance of the name of a nonprofit corporation.
From: david1977-ga on 16 Jan 2005 17:28 PST |
It may be a formal incorporated not-for-profit corporation that does not have shareholders, though it may have members and issue membership certificates or require member loans. It may also be a trust or association of members. The organization may be controlled by its members who elect the Board of Directors or Board of Trustees. Not-for-profit organizations may have a delegate structure to allow for the representation of groups or corporations as members. It may be a non-membership organization and the board of directors may elect its own successors. Association A voluntary association (also sometimes called an association) is a group of individuals who voluntarily enter into an agreement, explicit or implicit, to form or act as a body (or organization) to accomplish a purpose. Trust A trust is a legal arrangement for the control of property on someone's behalf. http://en.wikipedia.org/wiki/Non-profit_organization |
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