Nonprofit Corporation. The association is organized as a nonprofit corporation and operates consistent with the requirements of an organization classified as tax exempt under Section 501(c)(3) of the Internal Revenue Code (IRC).
Nonprofit Corporation. This Association is not organized for profit. No member of the Board of Managers or Association or person from whom the Association may receive any property or funds shall receive or shall be lawfully entitled to receive any pecuniary profit from the operations thereof, and in no event shall any part of the funds or assets of the Association be paid as salary or compensation to, or distributed to, or inure to the benefit of, any member of the Board of Managers. The foregoing, however, shall neither prevent nor restrict the following: (1) reasonable compensation may be paid to any member or Manager acting as an agent or employee of the Association for services rendered in effecting one or more of the purposes of the Association, and (2) any member or Manager may, from time to time, be reimbursed for his actual and reasonable expenses incurred in connection with the administration of the affairs of the Association.
Nonprofit Corporation. The Academy shall be organized and operated as a public school academy corporation organized under the Michigan Nonprofit Corporation Act, as amended, Act No. 162 of the Public Acts of 1982, being Sections 450.2101 to 450.3192 of the Michigan Compiled Laws. Notwithstanding any provision of the Michigan Nonprofit Corporation Act, as amended, the Academy shall not take any action inconsistent with the provisions of Part 6A of the Code or other Applicable Law.
Nonprofit Corporation. Member understands and acknowledges that the Corporation has been organized as a nonprofit corporation and that all amounts paid by or on behalf of Member to Corporation will constitute dues, fees, assessments or contributions related to membership in the Corporation and will not be deemed as an investment or purchase of any ownership interest in the Corporation.
Nonprofit Corporation. Member understands and acknowledges that the Corporation has been organized as a nonprofit corporation.
Nonprofit Corporation. Journey School is operated by a California nonprofit public benefit corporation, Journey School, Incorporated (“Journey, Inc.”). The corporation, Journey, Inc., shall comply with all provisions of the charter petition, as approved by the Capistrano Unified School District, with respect to all activities and operations of the charter school. The corporation may, consistent with its Articles of Incorporation and charitable purposes for which it was formed, carry out other activities which are complementary with, supportive of and not inconsistent with its charter school’s operations.Articles of Incorporation are attached in Exhibit E. The Journey School, Inc.’s current by-laws (included in Exhibit E) provide a full description of the organization of the corporation. Journey School, Inc. has also been granted tax-exempt status under Section 501(c)(3) by the IRS based on its charitable purposes and operations (see Exhibit E).Journey School shall provide written notice to the District Superintendent of any proposedrevisions to the corporation’s Articles of Incorporation and/or Bylaws no less than ten business days prior to the effective date of any changes. Should the District Superintendent or designee reasonably determine that the District considers the revision(s) to be a material revision to the charter petition, the District shall so notify Journey School in writing and the changes shall not take effect until a material revision is approved through the process set forth in Education Code section 47607 for material revision to the Charter.The District shall not be responsible or liable for the operations of Journey School, Inc. The School will be governed pursuant to this Charter (current Bylaws and Articles are attached in Exhibit E).
Nonprofit Corporation. The Corporation has been organized as a community improvement corporation, in particular, a county land reutilization corporation, under Chapter 1724 of the Ohio Revised Code (the “Community Improvement Corporation Law”) and Chapter 1702 of the Ohio Revised Code (the “Nonprofit Corporation Law”). The Corporation shall carry on only such activities as are consonant with the purposes set forth in Section 1.04 of this Code of Regulations and in its Articles of Incorporation and in the laws of the State of Ohio. It is intended that the Corporation shall have the status of an organization which derives its income from the exercise of essential governmental functions and the income of which, if not used by the Corporation for the continuance of its purposes, accrues to the County of Lucas, Ohio (the “County”) and is therefore excluded from gross income for federal income tax purposes pursuant to Section 115(1) of the Internal Revenue Code of 1986, as now in effect or as may hereafter be amended, and the corresponding provisions of any similar laws subsequently enacted and all regulations issued under those sections and provisions (the “Code”). All authority and activities of the Corporation shall be limited accordingly. Notwithstanding any other provision of the Corporation’s Articles of Incorporation or this Code of Regulations, the Corporation shall not directly or indirectly carry on any activity which would prevent it from claiming or maintaining its status as a corporation which derives its income from the exercise of essential governmental functions and whose income, if not used by the Corporation for the continuance of its purposes, accrues to the County and is therefore excluded from gross income for federal income tax purposes pursuant to Section 115(1) of the Code. The Corporation is not organized for profit and shall not have any authority to issue capital stock. The Corporation shall have perpetual existence.