California Government Code 8757 – For purposes of this chapter, the following definitions …
For purposes of this chapter, the following definitions apply:
(a) “Adjusted gross revenue” means the average annual revenue received over the preceding three years, in whatever form, received or accrued from whatever source, excluding funds received pursuant to Section 8753.6 and excluding revenue earmarked by the grantor or donor solely for capital expenditures or any passthrough funds collected for the benefit of another organization that is received during the tax year of an organization.
Terms Used In California Government Code 8757
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Contract: A legal written agreement that becomes binding when signed.
- Donor: The person who makes a gift.
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Grantor: The person who establishes a trust and places property into it.
- Subdivision: means a subdivision of the section in which the term occurs unless some other section is expressly mentioned. See California Government Code 10
(b) “Capital expenditures” means funds used by a company to acquire, upgrade, or maintain fixed assets, including property, plants, buildings, technology, or equipment.
(c) “Fiscally sponsored performing arts organization” means a performing arts organization that is fiscally sponsored under a Model C contract by a nonprofit organization that is exempt from taxation pursuant to Section 501(c)(3) of the Internal Revenue Code, and the performing arts organization’s primary mission is the creation of or presentation of performing arts.
(d) (1) “Nonprofit performing arts organization” means a performing arts organization that is exempt from taxation pursuant to Section 501(c)(3) of the Internal Revenue Code, and the performing arts organization’s primary mission is the creation of or presentation of performing arts.
(2) Performing arts organizations that are eligible to apply for grants from the Performing Arts Equitable Payroll Fund established in Section 8757.1 may also include an organization that is a Model C fiscally sponsored organization and not a Section 501(c)(3) nonprofit organization, for which criteria may be determined by the office.
(e) “Office” means the Office of Small Business Advocate within the Governor’s Office of Business and Economic Development pursuant to subdivision (b) of Section 12098, unless stated otherwise.
(f) “Payroll expenses” means wages paid to employees, payroll taxes, workers’ compensation, unemployment insurance, paymaster fees, and pension, health, and welfare contributions.
(g) “Performing arts” means the types of arts that are performed live for a remote or in-person audience, including, but not limited to, music, dance, and drama.
(h) “Small nonprofit performing arts organization” means a nonprofit performing arts organization, or a Model C fiscally sponsored performing arts organization, with an adjusted gross revenue equal to or less than two million dollars ($2,000,000). The office shall adjust this amount every five years using the California Consumer Price Index as compiled and reported by the Department of Industrial Relations.
(Added by Stats. 2022, Ch. 731, Sec. 2. (SB 1116) Effective January 1, 2023.)