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12 Terms Every HOA Board Member Should Know

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L E G A L 11. ARTICLES OF INCORPORATION Documentation filed with a state Secretary of State's office that formally establishes a community association as a legal entity. Paperwork includes general information about a corporation and its purpose. 12. NONPROFIT ORGANIZATION A nonprofit organization, also known as a not-for-profit organization, is a legal entity organized and operated for a collective public or social benefit as opposed to an entity that operates as a business and aims to generate profit for its owners. An HOA is a nonprofit organization set up to help run, manage, and maintain a neighborhood, building, or another collective of homes.

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