N.Y. Comp. Codes R. & Regs. tit. 9 § 440.2

Current through Register Vol. 46, No. 25, June 18, 2024

Section 440.2 - Not-for-profit corporation requirements

(a) A not-for-profit corporation must demonstrate to the satisfaction of the office that it is capable of operating and maintaining the completed project for the benefit of the public. The following documents will be required in the grant application to verify a corporation's not-for-profit, tax-exempt status and provide evidence of such capability:

(1) a copy of the corporation's certificate of incorporation issued by the New York State Department of State or the New York State Board of Regents; and

(2) a copy of a determination letter from the United States Internal Revenue Service verifying the corporation's tax-exempt status.

(b) Prior to entering into a project agreement verification will be required to demonstrate that the not-for-profit corporation is up-to-date with all pertinent filing under section 501 of the United States Internal Revenue Code, and either article 7-A of the New York Executive Law, or section 8- 1.4 of the New York Estates, Powers and Trusts Law, or section 1508 of the New York Not-for-Profit Corporation Law, or section 215 of the New York Education Law.

N.Y. Comp. Codes R. & Regs. Tit. 9 § 440.2