A nonprofit corporation is a formal organization of people committed to a particular purpose. Purposes may vary, but their basis is some greater good, either of the society as a whole or for a defined community of interest, and not for the individual profit of those involved. Unlike for profit corporations, a nonprofit corporation has no shareholders, and nonprofit corporations do not distribute profits. There are two kinds of nonprofit corporations under state law--public benefit nonprofit corporations and mutual benefit nonprofit corporations.
Charitable organizations doing business in Vermont must register with the SOS.
Paid fundraisers are required to register with the Attorney General's Office.
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