New Jersey Statutes 18A:64-96. New Jersey Civic Information Consortium
Terms Used In New Jersey Statutes 18A:64-96
- Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
- 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.
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
b. The consortium shall be established as a nonprofit corporation that is an educational and charitable corporation validly existing and in good standing under the “New Jersey Nonprofit Corporation Act,” P.L.1983, c.127 (N.J.S. 15A:1-1 et seq.), is incorporated, organized, and operated in such a manner as to qualify as a nonprofit corporation described in section 501(c)(3) of the federal Internal Revenue Code, 26 U.S.C. § 501(c)(3), and structured as a supporting organization to its member universities in a manner that the Internal Revenue Service would deem the consortium to be a public charity, and shall be subject to all applicable State laws governing nonprofit corporations. The consortium shall be accountable and subject to the same federal Internal Revenue Code disclosure requirements of any nonprofit organization pursuant to 26 U.S.C. § 6033, such as making public its Internal Revenue Service Form 990 and filing a copy of that form and a copy of its annual financial report and audited financial reports with the Attorney General.
L.2018, c.111, s.3; amended 2021, c.282, s.42.