Not-for-profit entities

NONPROFIT organizations exist mainly to provide help or resources to a target audience with a specific need. They usually serve a public purpose, such as enriching the lives of people in a community, and enjoy special considerations in terms of tax, legal status and accountability. A nonprofit is mission-driven, which requires its management and board to set objectives and goals aimed at achieving the organization's stated mission.

In the Philippines, nonprofit organizations are typically organized as "non-stock corporations" registered under the Corporation Code. Non-stock corporations may be formed for charitable, religious, educational, professional, cultural, fraternal, literary, scientific, social, civic service, or similar purposes, such as trade, industry, agricultural and similar chambers, or any combination thereof (Sec. 87, Revised Corporation Code). The Securities and Exchange Commission serves as the registration authority for non-stock corporations, some of which register as foundations.