Nonprofit corporations can't be owned by any individual or group, including even the founder, and unlike for-profit corporations, nonprofits generally can't issue shares of ownership like a stock.

A business organization that serves some public purpose and therefore enjoys special treatment under the law. Nonprofit corporations, contrary to their name, can make a profit but can't be ...

Boss Sam Altman said OpenAI would remain under the control of its non-profit board, while becoming what is known in the US as ...

ChatGPT-maker OpenAI is reportedly transitioning from a non-profit to a for-profit benefit corporation. The AI startup’s CEO Sam Altman could receive equity in the newly structured company.

non-stock corporations In the country, not-for-profit organizations or NPOs are considered the larger umbrella under which NGOs and non-profit organizations fall under. NPOs are also called non ...

SAN FRANCISCO (Reuters) - ChatGPT-maker OpenAI is working on a plan to restructure its core business into a for-profit benefit corporation that will no longer be controlled by its non-profit board ...

“Taxation is the rule and exemption is the exception.” This basic principle in taxation law has been sustained in a number of decided cases by no less than our Supreme Court. The highest ...

the BIR issued RMO No. 20-2013 requiring all non-stock, non-profit corporations and associations enumerated in Section 30 of the 1997 Tax Code, as amended, including those which have been issued ...