There are now 29 different types of organizations listed as exempt under Section 501(c) of the Tax Code, many of which could not be controlled by a for-profit business. (See Ready Reference Page: “What Do We Mean When We Say ‘Nonprofit’?”)

 

If your question is about a 501(c)(3) charity, the answer is yes. There are many corporate foundations (private foundations) controlled by business corporations, and occasionally a business will control an operating public charity. The Internal Revenue Service tests the activities of the organization more than its sponsorship.