Definition: is a type of incorporated organization which operates as a non-profit company and can be managed either publicly or privately. Usually, this kind of corporation is simply called a charity or foundation. The specific requirements, which an organization has to meet to be regarded as a charitable corporation, vary depending on the country it’s located in, which in turn determines what taxation laws regulate its activities. Most charitable corporations are centered on either an educational, religious or other community-oriented activity that is dedicated to helping the society.
In a Sentence:
As of today, the Eye of the Beholder has become a charitable corporation. Now, we have even more opportunities to share works of art with the less fortunate and help them feel like an integrated part of society.
The Helping Hand charitable corporation, situated in Northern London, has been helping troubled and at-risk teenagers and young adults for over a decade now. The owners of this organization don’t earn any money from it, as they just want to make a difference in someone’s life.
Synonyms and related words: non-profit organization, non-charitable corporation, corporation, public charity