Indiana Code 4-32.3-2-7. “Bona fide national foundation”
Current as of: 2023 | Check for updates
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Sec. 7. “Bona fide national foundation” refers to an organization that:
(2) is exempt from taxation under Section 501 of the Internal Revenue Code;
(1) operates without profit to the organization’s members;
Terms Used In Indiana Code 4-32.3-2-7
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(3) is related in both its mission and organization to a bona fide national organization; and
(4) has provided grants to Indiana organizations in aggregate amounts that annually exceed fifty thousand dollars ($50,000) in the preceding calendar year in which the organization applies for a license under this article.
As added by P.L.58-2019, SEC.4.