Section 147A.310 - Definitions for KRS 147A.300 to 147A.330As used in KRS 147A.300 to 147A.330, unless the context requires otherwise:
(1) "Affiliate community foundation" means a philanthropic foundation organized or operating to serve an identified geographic area within the Commonwealth, and which: (a) Is affiliated with a qualified community foundation; and(b) Is certified by the commission pursuant to KRS 147A.325;(2) "Commission" means the Endow Kentucky Commission established in KRS 147A.330;(3) "County-specific component fund" means a fund of a qualified community foundation that is restricted to serve an individual county;(4) "Endowment gift" means an irrevocable contribution to a permanent endowment held by a qualified community foundation, county-specific component fund, or affiliate community foundation;(5) "Fund" means the community endowment fund established by KRS 147A.315; and(6) "Qualified community foundation" means a philanthropic foundation organized or operating in the Commonwealth that: (a) Substantially complies with the national standards for community foundations established by the National Council on Foundations;(b) Is classified as a 501(c)(3) tax-exempt organization by the Internal Revenue Service; and(c) Is certified by the commission pursuant to KRS 147A.325.Effective:7/15/2010
Created 2010, Ky. Acts ch. 71, sec. 3, effective7/15/2010.