Iowa Code 15E.303 – Definitions
Current as of: 2023 | Check for updates
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As used in this subchapter, unless the context otherwise requires:
1. “Board” means the governing board of the lead philanthropic entity identified by the authority pursuant to section 15E.304.
Terms Used In Iowa Code 15E.303
- authority: means the economic development authority created in section 15. See Iowa Code 15E.1
- Board: means the Iowa capital investment board created in section 15E. See Iowa Code 15E.62
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
2. “Business” means a business operating within the state and includes individuals operating a sole proprietorship or having rental, royalty, or farm income in this state and includes a consortium of businesses.
3. “Community affiliate organization” means a group of five or more community leaders or advocates organized for the purpose of increasing philanthropic activity in an identified community or geographic area in this state with the intention of establishing a community affiliate endowment fund.
4. “Endow Iowa qualified community foundation” means a community foundation organized or operating in this state that attains the national standards established by the national council on foundations as determined by the authority in collaboration with the Iowa council of foundations.
5. “Endowment gift” means an irrevocable contribution to a permanent endowment held by an endow Iowa qualified community foundation.
6. “Lead philanthropic entity” means the entity identified by the authority pursuant to section 15E.304.