nonprofit corporation

Definition from Nolo’s Plain-English Law Dictionary

An organization incorporated under state laws and approved by both the state's secretary of state and its taxing authority as operating for educational, charitable, social, religious, civic, or humanitarian purposes. Some nonprofit corporations qualify for a federal tax exemption under Section 501(c)(3) of the Internal Revenue Code, which makes them eligible for certain federal and state tax exemptions and the contributions they receive are tax deductible by the donors.

Definition provided by Nolo’s Plain-English Law Dictionary.