"Nonprofit" can mean different things, so it is helpful to understand what that term might mean in different contexts.
Nonprofit corporations are a common form of entity for nonprofits, but nonprofits can also exist in other forms, such as a limited liability company or an unincorporated nonprofit association. Similarly, corporations are a common form of entity for for-profit organizations (i.e., businesses), but businesses can also exist in other forms, such as sole proprietorships and partnerships.
Like nonprofits, tax-exempt organizations can exist in a variety of forms, such as a nonprofit corporation or a trust.
Not all nonprofits are tax-exempt. For example, many homeowner associations are organized as nonprofit corporations, but are not tax-exempt.
One effect of being a nonprofit that is also a tax-exempt organization is that tax-exempt organizations are subject to additional regulation under the tax laws.
The purpose of this guide is to provide information about resources for nonprofits primarily from a legal perspective.