Not for Profit Clause Samples
The Not for Profit clause establishes that the entity or organization operates without the intention of generating profits for distribution to owners or shareholders. In practice, this means that any surplus revenue generated must be reinvested into the organization's mission, programs, or services rather than being paid out as dividends or bonuses. This clause is essential for ensuring that the organization's resources are dedicated to its stated charitable, educational, or social objectives, and it helps maintain compliance with legal requirements for not-for-profit status.
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Not for Profit. (a) The Trust is to be carried out without purpose of profit or private gain for the Trustee, or a member, director, employee, agent or officer of the Trustee. No part of the Trust Fund or the income may be transferred or Applied directly or indirectly by way of dividend, bonus or other profit distribution to the Trustee, or a member, director, employee, agent or officer of the Trustee.
(b) Clause 2.4(a) does not prevent the payment in good faith of any of the following in accordance with the terms of this Deed:
(i) the Trustee’s remuneration determined in accordance with clause 23;
(ii) reasonable costs, charges and expenses incurred in connection with the administration of the Trust;
(iii) reimbursement to any person (including the Trustee and any member, director, employee, agent or officer of the Trustee) for any reasonable out of pocket expenses incurred in connection with the administration of the Trust;
(iv) reasonable rental for any real or personal property leased to the Trustee as trustee of the Trust;
(v) reasonable remuneration of any other person (including any member, director, employee, agent or officer of the Trustee) for services provided to the Trustee as trustee of the Trust.
Not for Profit. Community Organisations/Groups: Insurance:
Not for Profit. This Company is organized not for pecuniary profit and is not a moneyed corporation (as defined by the United States Bankruptcy Code). It does not have the power or authority to issue shares of stock or to declare or to pay dividends. No part of the net earnings or assets of the Company shall inure to the benefit of, or be distributable to, its managers, directors, officers or other private persons, except that the Company is authorized and empowered to pay reasonable compensation for services rendered and to make payments and distributions in furtherance of the purposes set forth in these Articles of Organization.
8.1 No substantial part of the activities of the Company may be used for the carrying on propaganda, or otherwise attempting to influence legislation. The Company shall not participate in, or intervene in (including the publishing or distributing of statements), a political campaign on behalf of (or in opposition to) a candidate for public office.
8.2 Notwithstanding any other provision of these Articles or of the Company’s Operating Agreement, the Company shall not conduct or carry on activities not permitted to be conducted or carried on (a) by an organization exempt under Section 501(c)(3) of the Internal Revenue Code of 1986 (“IRC”) (or the corresponding provision of future United States Internal Revenue law) and its regulations (as they now exist or may hereafter be amended) or (b) an organization, contributions to which are deductible under Section 170(c)(2) of the IRC (or the corresponding provision of future United States Internal Revenue law) and its regulations (as they now exist or may hereafter be amended).
8.3 Any amendment to these Articles must be consistent with the provisions of Section 501(c)(3) of the IRC.
8.4 This Company shall neither merge with nor convert to a for-profit entity.
8.5 The Managers and Member shall expeditiously and rigorously enforce all of their rights in the Company and shall pursue all legal and equitable remedies to protect their interests in the Company.
Not for Profit. It is expressly understood that the Agency is a public body and is to be operated not for profit, and no profit, dividend or Agency asset shall inure to the benefit of any individual.
Not for Profit organizations—A not-for-profit organization if more than half of the beneficiaries, members or participants of the organization are qualifying persons. The term “not-for-profit organization” includes charities, private foundations, trade union, trade associations and similar organizations.
Not for Profit. It is expressly understood that CSS is to be operated not for profit and no profit or dividend will inure to the benefit of any person.
Not for Profit. 4.1 The Partnership account will be a rolling three year, zero based, not-for-profit account. Over and under spend to be levelled at the end of each accounting year using the Trading Account with relevant adjustments made to the subsequent year’s budget.
4.2 Should it be determined, by agreement of the Partner Authorities, that any surplus will be distributed, or any deficit be met, by the Partner Authorities, contributions will be calculated using the ratio of chargeable income received in each Partner Authority’s area over the relevant accounting period.
Not for Profit. The activities of the Platform shall be conducted on a not-for-profit basis. In addition, it is the intention of the Parties that nothing in this Agreement shall prejudice the not- for-profit character of the IPIA. If any provision of this Agreement tends or threatens to affect its not-for-profit character, the Parties agree to take such steps as may be required, including amending this Agreement, to ensure that the IPIA remains unaffected in its not-for-profit status.
Not for Profit. Non-Profit 501(c) 3 Organizations (Certificate must be shown):
Not for Profit. It is expressly understood that the Safe and Successful JPA is a public body and is to be operated not for profit, and no profit, dividend or Safe and Successful JPA asset shall inure to the benefit of any individual.