A Nonprofit Corporation is an organization formed to serve a public or mutual benefit rather than to generate profit for owners or shareholders. These entities often focus on charitable, educational, religious, or social causes. They rely on donations, grants, and volunteers to support their activities and are typically exempt from paying certain taxes. Nonprofit Corporations are governed by a board of directors and must adhere to specific regulations to maintain their tax-exempt status. They are required to reinvest any surplus revenue back into their mission, ensuring that funds are used to further their goals rather than distributed as profits.