What type of corporation is established for charitable purposes?

A corporation established for charitable purposes is called an eleemosynary corporation. This type of corporation is specifically created to engage in activities that provide benefits to the public or to specific charitable causes. The term "eleemosynary" derives from the Latin word "eleemosyna," meaning almsgiving or charity, which directly reflects the nature of such organizations.

Eleemosynary corporations are typically granted special tax exemptions and are subject to specific regulations that govern their operations to ensure that they are functioning in the public interest. They play a crucial role in fostering social welfare and community support by providing services or financial aid to those in need.

In contrast, ecclesiastical corporations focus on religious purposes, lay corporations are typically formed for non-religious, non-charitable business activities, and civil corporations pertain more to governmental or public entities. These distinctions highlight the unique focus of eleemosynary corporations in their commitment to charitable work.