Form Pt 05-34 - Property Tax Claim - Charitable Ownership/use Page 2
ADVERTISEMENT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16Findings of Fact:
Facts Regarding SPI’s Organization
1.
Scandinavian Park is an Illinois not-for profit corporation. Applicant Ex. 1 (copy
of SPI’s articles of incorporation), pp. 1-3; see also Hearing Transcript (“Tr.”),
passim.
2.
SPI’s Articles of Incorporation set out the following corporate purposes:
Article 4.
The purpose for which this corporation is
organized are:
a.
To own and operate a park near South Elgin, Illinois
dedicated to providing a venue for educational and cultural
events that promote knowledge and understanding of
traditional Scandinavian culture.
b.
The organization is organized for exclusively
charitable, scientific, literary, and educational purposes
within the meaning of section 501(c)(3) of the Internal
Revenue Code of 1986 or the corresponding provision of
any future United States Internal Revenue Law.
c.
Notwithstanding any other provision of these
articles, this organization shall not carry on any activities
not permitted to be carried out by an organization exempt
from income tax under section 501(c)(3) of the Internal
Revenue Code of 1986 or the corresponding provision of
any future United States Internal Revenue Law.
d.
In the event of dissolution, the residual assets of the
organization will be turned over to one or more
organizations
which
themselves
are
exempt
as
organizations described in sections section 501(c)(3) or
170(c)(2) of the Internal Revenue Code of 1986 or the
corresponding provision of any future United States
Internal Revenue Law, or to federal, state, or local
government for exclusively public purposes.
Applicant Ex. 1, p. 3; see also Applicant Ex. 2 (SPI’s By-Laws), p. 1 (Art. 1).
3.
SPI’s Article of Incorporation were signed on July 28, 2003, and filed with the
2
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Legal