Section 6-3-1-36 - "Eligible community foundation"As used in this article, "eligible community foundation" means an organization that:
(1) is exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code;(2) satisfies the public support test of Section 170(b)(1)(A)(vi) of the Internal Revenue Code; (3) is an autonomous, nonsectarian philanthropic institution with permanent, component funds established by many separate donors;(4) is accredited under national standards for United States Community Foundations established by the Community Foundations National Standards Board; and(5) supports a broad range of charitable activities within a specific geographic area in Indiana. The term includes an affiliate fund of an eligible community foundation.
Added by P.L. 50-2015, SEC. 1, eff. 7/1/2015.