Common use of Charitable Objective Clause in Contracts

Charitable Objective. All funds of the Foundation are to serve or promote the enhancement of the quality of life of the communities served by the Foundation and its charitable mission. No distribution shall be made from the Fund to any individual or entity if such distribution may in the judgment of the Foundation impair or endanger the Foundation's tax exempt status under Code Section 501(c)(3) or result in the imposition of any excise tax, penalty, or other tax, fine, or assessment under the Code.

Charitable Objective. All funds of the Foundation are to serve or promote the enhancement of the quality of life of the communities served by the Foundation and its charitable mission. No distribution shall be made from the Fund to any individual or entity if such distribution may in the judgment of the Foundation impair or endanger the Foundation's tax tax-exempt status under Code Section 501(c)(3) or result in the imposition of any excise tax, penalty, or other tax, fine, or assessment under the Code.