CORPORATE PURPOSES. The purpose of the Corporation is to engage in any lawful act or activity for which corporations may be organized under the General Corporation Law of the State of Delaware.
CORPORATE PURPOSES. The purposes for which the Corporation is organized are: exclusively charitable, educational and scientific within the meaning of Sec. 501(c)(3) of the Internal Revenue Code of 1986, as amended (the “Code”), or the corresponding provision of any future United States Internal Revenue law. Notwithstanding anything to the contrary, the Corporation is organized and will operate exclusively for the benefit of Xxxxxxx Hospital, an Illinois not for profit corporation exempt as an organization described in both Sec.501(c)(3) and Sec. 509(a)(1) of the Code. No part of the net earnings of the Corporation shall inure to the benefit of any private individual; no part of the income of the Corporation shall be distributed to its trustees or officers, provided, however, that the payment of reasonable compensation for services rendered shall not be deemed a distribution of income. No substantial part of the activities of the Corporation shall consist of carrying on propaganda or otherwise attempting to influence legislation. The Corporation shall not participate in, or intervene in (including the publication or distribution of statements) any political campaign on behalf of or against any candidate for public office. The Corporation shall possess all powers which a corporation organized under the General Not for Profit Corporation Act of the State of Illinois, as the same from time to time may be amended, may possess, including the power to use, distribute, contribute, expend, donate, apply and appropriate all of its property and assets, and all proceeds and avails thereof, and income and profit derived therefrom, exclusively for charitable, educational or scientific purposes; provided, however, the Corporation shall not engage in any business which would disqualify it from being exempt from taxation under Sec.501(c)(3) of the Code, or the corresponding provision of any future United States Internal Revenue law. Anything herein contained to the contrary notwithstanding, no assets of the Corporation shall be donated, distributed, applied to, paid over or otherwise used or employed in any manner which would disqualify the Corporation from being exempt from taxation as an organization described in Sec.501(c)(3) of the Code.