What is a "non-stock corporation" as defined in the Revised Corporation Code?

A non-stock corporation, as defined in the Revised Corporation Code, is specifically a corporation that does not issue shares of stock. This form of corporation is typically organized for purposes that are charitable, educational, or social in nature. Non-stock corporations are structured to further specific missions or causes rather than to generate profit for shareholders.

This structure is particularly important because it delineates the focus of the organization from being profit-driven to serving a broader social purpose. In this case, the absence of stock issuance signifies that there are no shareholders expecting dividends or profit distributions, which is a fundamental characteristic of non-stock corporations. As such, they often rely on donations, grants, or membership dues to fund their activities.

The other options do not align with this definition. For instance, a corporation that issues shares to generate profit directly contradicts the essence of a non-stock corporation. Meanwhile, a focus solely on government contracts does not inherently define a non-stock corporation since many corporations, regardless of their stock status, can engage in government business. Lastly, a corporation that has been dissolved has ceased to exist legally and is unrelated to the definition of a non-stock corporation.