Incorporation as a non-profit gives it legal status separate from its members. This legal status means the non-profit can do things in its own name, such as borrow money. It also means the non-profit, rather than the individuals, is liable for any debt.

Yes. The constitution (name and purposes) and bylaws (rules for governing) are the foundational documents for incorporating a non-profit.

Societies may be set up for a wide range of purposes, such as daycare, recreation or arts,  sports, and social clubs. A non-profit’s purpose cannot be to make money, but the non-profit can operate a business to support its purposes. For example, a seniors’ network might operate a thrift shop (a business), but all the proceeds go toward providing services and programming for seniors (the non-profit’s purpose).