Corporations are focused on maximizing profits for shareholders, cooperatives are focused on serving the needs of their members, and nonprofits are focused on pursuing a social or charitable mission.
A corporation is a legal entity that is owned by shareholders. Shareholders are individuals or other corporations that have invested in the corporation by purchasing shares of stock. Corporations are typically formed for the purpose of making a profit for their shareholders.
A cooperative is a business that is owned and operated by its members. Members are typically the producers or consumers of the goods or services that the cooperative provides. Cooperatives are typically formed for the purpose of serving the needs of their members, rather than making a profit.
A nonprofit is an organization that is not operated for profit and does not distribute profits to its members or owners. Nonprofits are typically formed for the purpose of pursuing a social or charitable mission.