Community foundations.

Authors: Senator Randall Head, Senator Carlin Yoder

Co-authors: Senator Lonnie Randolph

Sponsors: Representative Milo Smith

Co-Sponsors: Representative Gregory Porter, Representative Sheila Klinker

Digest

Defines an "eligible community foundation" for state income tax purposes as an organization that: (1) is a tax exempt charitable organization; (2) satisfies the public support test for public charities; (3) is an autonomous, nonsectarian philanthropic institution with component funds established by many separate donors; (4) is accredited under national standards for United States Community Foundations; and (5) supports a broad range of charitable activities in a specific area of the state.