Tarion Warranty Corporation is not a US nonprofit organization; it is a Canadian not-for-profit consumer protection organization based in Ontario. However, here is an article about it in a Wikipedia style, noting that it does not match the requested US entity:

Tarion Warranty Corporation

Tarion Warranty Corporation, formerly known as the Ontario New Home Warranty Program, is a Canadian not-for-profit consumer protection organization. It was established by the Government of Ontario in 1976 to administer the province's new home warranty program as outlined in the Ontario New Home Warranties Plan Act.

Mission

Tarion's mission is to ensure that buyers of newly built homes in Ontario receive the warranty coverage they are entitled to under their builder's warranty. The organization's responsibilities include:

• Consumer Protection: Protecting consumers if builders fail to fulfill their warranty obligations.
• Education: Informing new home buyers and owners about their warranty rights and responsibilities.
• Warranty Management: Providing an online portal for homeowners to manage their warranties and report defects.
• Dispute Resolution: Facilitating the resolution of disputes over warranty coverage and repairs.
• Guarantee Fund Management: Managing a guarantee fund to compensate homeowners for valid warranty claims.

Warranty Coverage

New homes in Ontario are subject to comprehensive warranty coverage. This includes:

• Deposit Protection: Protects deposits made by buyers before possession.
• Delayed Closing/Occupancy Coverage: Covers financial losses due to delays.
• Pre-Occupancy Financial Loss Protection: Applies to homes built on land already owned by the purchaser.
• Post-Occupancy Coverage: Covers defects in workmanship and materials post-possession, divided into one-year, two-year, and seven-year coverage periods.

The seven-year warranty includes coverage for major structural defects, but it does not cover normal wear and tear or damage from poor maintenance. If a home is sold during the warranty period, the warranty transfers to subsequent homeowners.

Regulation Changes

As of February 1, 2021, Tarion's licensing responsibilities for home builders and vendors were transferred to the Home Construction Regulatory Authority (HCRA). Tarion continues to administer and enforce the Ontario New Home Warranties Plan Act, focusing on warranty protection and dispute resolution.

Funding and Fees

Tarion's operations are funded by enrolment fees paid by builders, which can be passed on to buyers. Fees vary based on the home's price. The maximum warranty coverage limit is $300,000 for individual homes and up to $2.5 million for common elements in condominiums.

Governance

Tarion is governed by a board of directors, with members serving three-year terms, appointable for up to nine years. The organization plays a crucial role in protecting the rights of new homebuyers in Ontario by providing warranty coverage and dispute resolution services.