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Not for Profit vs Non Profit Corporations
April 23, 2012 - Sylvia Heldreth
Community associations including condominium associations and homeowners associations were not established to make a profit but to serve the common good. They are usually "Not for Profit" corporations. Charities and churches were also established to serve the common good and not make a profit for individual gain. These are called "Nonprofits." Some people believe that the two types of organizations should have the same tax treatment from the IRS and be exempt for tax.
What do you think?
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