Non-Profit Company Registration
The primary objective of an NPC is to benefit the public through a particular cause, and not to make a profit. Examples of NPC’s could include churches, charity organizations and cultural organizations. The income and property may not be distributed to the incorporators, directors or officers of a non-profit company, except as reasonable compensation for services rendered by them to the NPC. Incorporators are the Non-profit Company's founders or first directors, a minimum of 3 directors are required for registration. An NPC may not qualify for funding from the Department of Social Development until the entity is registered on their database as an NPO (Non-Profit Organisation). You can still get funding from all other sources however. If you plan to register your NPC with the Department of Social Development, you will need to ensure you register your NPC with at least 5 directors as this is a requirement from the Department of Social Deveploment. Organisations such as SETA prefer to work with a registered NPC rather than an NPO, while on the other hand organisations such as The National Lottery Board will only fund NPO's or NPC's that have been registered as NPO's as well.
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