147A.310 Definitions for KRS 147A.300 to 147A.330. As 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 affil iated 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 foundat ion; (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 standard s for community foundations established by the National Council on Foundations; (b) Is classified as a 501(c)(3) tax ng in the Commonwealth that: (a) Substantially complies with the national standard s 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: July 15, 2 010 History: Created 2010 Ky. Acts ch. 71, sec. 3, effective July 15, 2010.
Kentucky Legal Code