As used in this article, 'eligible community foundation' means an organization that:(1) is exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code;(2) satisfies the public support test of Section 170(b)(1)(A)(vi) of the Internal Revenue Code;(3) is an autonomous, nonsectarian philanthropic institution with permanent, component funds established by many separate donors;(4) is accredited under national standards for United States Community Foundations established by the Community Foundations National Standards Board; and(5) supports a broad range of charitable activities within a specific geographic area in Indiana.The term includes an affiliate fund of an eligible community foundation.As added by P.L.50-2015, SEC.1.
Indiana Legal Code