2017 Tennessee Code
Title 49 - Education
Chapter 2 - Local Administration
Part 6 - School Support Organization Financial Accountability Act
§ 49-2-612. Charitable school foundation.

Universal Citation: TN Code § 49-2-612 (2017)
  • (a) A public school or its administrators or supporters are authorized to form, or caused to be formed, a charitable school foundation for the sole purpose of supporting the school by raising and administering funds for the school and its programs. A school foundation shall be broad based in its support of the school and shall not limit its support to a single program or activity. A school foundation shall be a school support organization under this part.
  • (b) To be a school foundation under this section, the foundation shall apply for and receive exemption from federal income taxation under § 501(a) of the Internal Revenue Code (26 U.S.C. § 501(a)), as an organization described in § 501(c)(3) of the Internal Revenue Code (26 U.S.C. § 501(c)(3)).
  • (c) The school foundation shall be open to parents, students, faculty, staff, alumni and members of the community who are interested in supporting the school and its programs.
  • (d) The bylaws of the school foundation shall require the director of schools and the principal of the school to serve as ex officio members on the foundation's board of directors.
  • (e) An organization in existence on April 16, 2012, that meets the requirements of this section, on or after April 16, 2012, shall be recognized as a school foundation.
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