There are three types of NFP’s:
Income Tax Exempt Funds and
Other non-profit organisations.
NFPs typically seek to become a charity, however, with this structure comes added regulation.
There are also a number of different legal structures that NFPs can choose when setting up an entity. From unincorporated associations to company limited by guarantee through to co-operatives, each has different costs and compliance and reporting requirements.
It is important you are choosing the right structure for your NFP.
NFP Guide - Establishing an NFP entity