R-KIDS of MN and GPF:Charitable Fund Statement of Policy 1999
From R-KIDS of MN and GPF
R-KIDS OF MINNESOTA CHARTIABLE FUND - 501(c)(3) FUND STATEMENT OF POLICY
Article I
R-Kids of Minnesota Charitable Fund is organized and operated exclusively for charitable purposes, all as contemplated and permitted by Sections 170(c)(2), 501(c)(3) and 509(a)(3) of the Code, and, in connection therewith, exclusively to perform, and otherwise to assist in carrying out, the charitable functoins and purposes of this corporation.
Article II
Special funds shall be kept separate from the 501(c)(3) general fund. The Board of Directors may provide procedures and delegate duties for receipt and disbursement of special funds, bus the Board of Directors shall be responsible for all the financial activities of all 501(c)(3) funds.
Article III
- No more than forty per cent of the gross annual income shall be used for solicitation.
- The balance of the gross annual income shall be used for charitable purposes. Such expenditures shall be for health and human service activities.
- Requests for expenditures for charitable purpose may be made by any R-Kids member shos dues are current.
- Expenditures shall be made only after approval by the R-Kids of Minnesota Board of Directors.
Document approved by R-Kids of Minnesota Board of Directors, on December 2, 1999.
