A corporation whose lawful activities involve among other things the
charging of fees or prices for its services or products shall have the
right to receive such income and, in so doing, may make an incidental
profit. All such incidental profits shall be applied to the maintenance,
expansion or operation of the lawful activities of the corporation, and
in no case shall be divided or distributed in any manner whatsoever
among the members, directors, or officers of the corporation.
Structure New York Laws
NPC - Not-For-Profit Corporation
501 - Stock and Shares Prohibited; Membership Certificates Authorized.
502 - Members' Capital Contributions.
505 - Subvention Certificates.
506 - Bonds and Security Interests.
507 - Fees, Dues and Assessments; Fines and Penalties.
508 - Income From Corporate Activities.
509 - Purchase, Sale, Mortgage and Lease of Real Property.
510 - Disposition of All or Substantially All Assets.
511 - Petition for Court Approval.
511-A - Petition for Attorney General Approval.
513 - Administration of Assets Received for Specific Purposes.
514 - Delegation of Investment Management.
515 - Dividends Prohibited; Certain Distributions of Cash or Property Authorized.
516 - Distributions to Members Upon Termination of Membership.
519 - Annual Report of Directors.
519-A - Annual Reports for Certain Transactions Required.
521 - Liability for Failure to Disclose Required Information.