| Purpose: |
THE CORPORATION IS A NONPROFIT ORGANIZATION ORGANIZED AND OPERATED EXCLUSIVELY FOR CHARITABLE, EDUCATIONAL, AND SCIENTIFIC PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. ALL REFERENCES TO SECTIONS OF THE INTERNAL REVENUE CODE (THE CODE) INCLUDE THE CORRESPONDING PROVISION OF ANY SUBSEQUENT FEDERAL TAX LAW. WITHOUT LIMITING THE FOREGOING, THE PRINCIPAL PURPOSES OF THE CORPORATION SHALL BE TO (I) RAISE MONEY AND MAKE GRANTS TO RECOGNIZED CHARITABLE ORGANIZATIONS IN THE UNITED STATES THAT ARE DESCRIBED IN SECTION 501(C)(3) OF THE CODE, AND CERTAIN OTHER ORGANIZATIONS, INCLUDING MUNICIPALITIES.TO CARRY ON AND PERFORM ALL SUCH WORKS AND FURTHER, TO CARRY ON ANY OTHER RELIGIOUS, EDUCATIONAL, SCIENTIFIC OR CHARITABLE WORKS WHICH ARE CONSISTENT WITH THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND CHAPTER 7-6 OF THE GENERAL LAWS OF RHODE ISLAND. NO MORE THAN AN INSUBSTANTIAL PART OF THE ACTIVITIES OF THE CORPORATION SHALL BE IN FURTHERANCE OF NON-EXEMPT PURPOSES. NO SUBSTANTIAL PART OF THE ACTIVITIES OF THE CORPORATION SHALL BE THE CARRYING ON OF PROPAGANDA, OR OTHERWISE ATTEMPTING TO INFLUENCE LEGISLATION. IN CONNECTION WITH SUCH ACTIVITIES, THE CORPORATION MAY CHOOSE TO MAKE AN ELECTION TO APPLY THE EXPENDITURE TEST AS PROVIDED UNDER SECTION 501(H) OF THE CODE. THE CORPORATION SHALL NOT PARTICIPATE IN OR INTERVENE IN (INCLUDING THE PUBLISHING OR DISTRIBUTION OF STATEMENTS), ANY POLITICAL CAMPAIGN ON BEHALF OF OR IN OPPOSITION TO ANY CANDIDATE FOR PUBLIC OFFICE. ANY OTHER PROVISIONS HEREIN NOTWITHSTANDING, THE CORPORATION WILL AT ALL TIMES BE ORGANIZED AND OPERATED EXCLUSIVELY FOR EXEMPT PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AND SHALL NOT HAVE THE POWER TO DO ANYTHING OR TAKE ANY ACTION WHICH WOULD CAUSE IT TO CEASE TO QUALIFY AS A NON-PROFIT CORPORATION UNDER STATE LAW OR AS AN ORGANIZATION EXEMPT UNDER SECTIONS 501(C)(3).ALL REFERENCES HEREIN: (I) TO THE INTERNAL REVENUE CODE SHALL BE DEEMED TO REFER TO THE INTERNAL REVENUE CODE OF 1986, AS NOW IN FORCE OR HEREAFTER AMENDED; OR TO A CORRESPONDING SECTION OF ANY FUTURE FEDERAL TAX CODE AND (II) TO THE GENERAL LAWS OF RHODE ISLAND SHALL BE DEEMED TO REFER TO THE GENERAL LAWS OF 1956, AS NOW IN FORCE OR HEREAFTER AMENDED, OR TO A CORRESPONDING PROVISION OF ANY FUTURE COMPILATION OF GENERAL LAWS. |
