Nonprofit Clause Samples
A Nonprofit clause defines the requirement that a party to the agreement must be, or remain, a nonprofit organization as recognized by relevant law. This clause typically applies to entities seeking to enter into contracts where nonprofit status is a condition for participation, such as grant agreements or collaborations with government agencies. By specifying this requirement, the clause ensures that only organizations with a nonprofit status can benefit from or be bound by the agreement, thereby maintaining compliance with legal or funding restrictions and preventing misuse by for-profit entities.
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Nonprofit. An organization granted nonprofit status under state and federal tax exemptions. May also include not-for-profit schools.
Nonprofit. 4.1 The Corporation is organized without capital stock exclusively for charitable, educational, and scientific purposes. The Corporation shall issue no stock nor shall any dividend or profit ever be declared or paid to any officer or director thereof.
4.2 The assets and property of the Corporation are irrevocably dedicated to the purposes stated in Article III, and no part of the net earnings or property of the Corporation may inure to the benefit of or be distributable to any private shareholder or individual (within the meaning of Code Section 501(c)(3)), including without limitation the Corporation's directors or officers, except that the Corporation is authorized and empowered to pay reasonable compensation for services rendered and to make payments and distributions in furtherance of its purpose.
4.3 No part of the activities of the Corporation may consist of carrying on propaganda or otherwise attempting to influence legislation, provided that such restriction shall not be construed to prohibit the Corporation from interacting with, reporting to, educating, or advising the General Assembly with respect to matters within the purposes and expertise of the Foundation.
4.4 The Corporation may not participate in, or intervene in (including publication or distribution of any statement), any political campaign on behalf of any candidate for public office.
4.5 Notwithstanding any other provision of these articles, the Corporation may not carry on any other activities not permitted to be carried on (i) by a corporation exempt from Federal income tax under Code Section 501(c)(3), (ii) by a corporation, contributions to which are deductible under Code Section 170(c)(2), or (iii) by a corporation exempt from Federal income tax under Code Section 501(c)(4), provided that the Corporation shall in no way be precluded from interacting with, reporting to, educating, or advising the General Assembly with respect to matters within the purposes and expertise of the Foundation.
4.6 The Corporation may not engage in any self- dealing, as that term is defined in Code Section 4941(d) as though the Corporation were a private foundation, as that term is defined in Code Section 509(a), regardless of whether the Corporation is actually such a private foundation.
4.7 Commencing in the fourth fiscal year of the Corporation after its incorporation, the Corporation each fiscal year shall make "qualifying distributions" within the meaning of Code Section 4942 in an amount equal to o...
Nonprofit. When applied to schools or institutions eligible for the School Nutrition Program this means exempt from income tax under the Internal Revenue Code of 1954, as amended. School: Means An educational unit of high school grade or under operating under public ownership in a single building or complex of buildings. The term "high school grade or under" includes classes of pre-primary grade when they are conducted in a school having classes of primary or higher grade, or when they are recognized as part of the educational system in the State, regardless of whether such pre-primary classes are conducted in a school having classes of primary or higher grade. With the exception of residential summer camps, which participate in Summer Food Service Program for Children, and Job Corps centers funded by the Department of Labor, any public child care institution, or distinct part of such institution, which (1) maintains children in residence and (2) operates principally for the care of children. The term "child care institutions" includes, but is not limited to: homes for the mentally retarded, the emotionally disturbed, the physically disabled, and unmarried mothers and their infants; group homes, halfway houses; orphanages; temporary shelters for abused children and for runaway children, long-term care facilities for chronically ill children, and juvenile detention centers.
Nonprofit when applied to schools or institutions eligible for the Program, means exempt from income tax under section 501(c)(3) of the Internal Revenue Code of 1986, as amended.
Nonprofit. The grantee certifies itself as a nonprofit organization with 501(c)(3) status; a public-facing organization operating within an accredited institution of higher learning; a state or local government agency; or a state- or federally recognized Native American tribal government, and agrees to undertake the project entitled above in support of its mission as a humanities-based organization operating within the state of Louisiana.
Nonprofit. Contractor’s business is incorporated as a nonprofit corporation, and Contractor has no employees; all work is performed by volunteers, and Contractor will not hire employees to perform this contract.
Nonprofit. STATUS (Group 3B nonprofit organizations only): A copy of the Facility User’s 501(c)(3) documentation, or equivalent Federal nonprofit status paperwork, shall be provided to the Facility Owner, said nonprofit documentation to be attached to this Use Agreement as Attachment B.
Nonprofit. Company is a charitable organization and has 501(c)3 or pending 501(c)(3) status for IRS tax purposes.
Nonprofit. November 25, 2019
Nonprofit. Current board member of ▇▇▇▇▇▇ Ministries (501C3) Non Profit