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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 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:July 15, 2010
History: Created 2010 Ky. Acts ch. 71, sec. 3, effective July 15, 2010.
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