Asked by Hafsa Shahzada on Jun 28, 2024

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What types of corporations largely depend on grants from private foundations and public donations to meet expenses?

A) nonprofit corporations
B) limited-liability companies
C) S corporations
D) C corporations

Nonprofit Corporations

Organizations that operate for charitable, educational, cultural, or public service purposes rather than for profit, often enjoying tax-exempt status.

Private Foundations

Non-profit organizations usually created via a single primary donation from an individual or business and whose funds and program operations are managed by its own trustees or directors.

  • Distinguish among different types of limited liability entities and understand their consequences for entrepreneurs.
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ZK
Zybrea KnightJul 04, 2024
Final Answer :
A
Explanation :
Nonprofit corporations largely depend on grants from private foundations and public donations to meet expenses, as their primary purpose is not to generate profit but to serve a public or mutual benefit.