Common use of The Fund as a Component of the Greater Washington Community Foundation Clause in Contracts

The Fund as a Component of the Greater Washington Community Foundation. The Fund shall be a component part of The Community Foundation and not a separate trust, and nothing in this Agreement shall affect the status of The Community Foundation as an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (“Code”), and as an organization which is not a private foundation within the meaning of Section 509(a) of the Code. This Agreement shall be interpreted to conform to the requirements of the foregoing provisions of the federal tax laws and any regulations issued pursuant thereto. The Community Foundation is authorized to administer the Fund and this Agreement to conform to the provisions of any applicable law or government regulation in order to assure continued compliance with Section 501(c)(3) and section 509(a) of the Code. References herein to provisions of the Internal Revenue Code of 1986, as amended, shall be deemed references to the corresponding provisions of any future Internal Revenue Code.