Section 4-32.3-2-7 - "Bona fide national foundation" "Bona fide national foundation" refers to an organization that:
(1) operates without profit to the organization's members;(2) is exempt from taxation under Section 501 of the Internal Revenue Code;(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.Added by P.L. 58-2019,SEC. 4, eff. 7/1/2019.