To be eligible to receive a grant under this Act, an organization must be a community-based organization or other not-for-profit entity that:
         (1) is a not-for-profit corporation that is exempt
    
from federal income taxation under Section 501(c)(3) of the federal Internal Revenue Code of 1986;
        (2) is organized under the General Not for Profit
    
Corporation Act of 1986 for the purpose of providing charitable services to the community; and
        (3) complies with the provisions of the Charitable
    
Trust Act.

Terms Used In Illinois Compiled Statutes 30 ILCS 790/15

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
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