No Private Inurement. No part of the net earnings of CIWW shall inure to the benefit of, or be distributable to any private persons or private agency, except CIWW is authorized and empowered to pay reasonable compensation or consideration for goods, services, materials, or properties that it obtains.
No Private Inurement. No part of the assets or net earnings of the Authority shall inure to the benefit of or be distributable to its directors, officers, or other private persons, except that the Authority shall be authorized and empowered to pay reasonable compensation for services actually rendered and to make reimbursement in reasonable amounts for expenses actually incurred in exercising the powers or carrying out the purposes of the Authority.
No Private Inurement. Section 8.01.
No Private Inurement. No part of the net earnings of the Trust shall inure or be payable to or for the benefit of any private individual (such as the Trustees or the members of the Advisory Board), except that reasonable compensation may be paid for services rendered to or for the Fund in the furtherance of its purposes and for reasonable and necessary expenses incurred in connection with the administration of the Fund.
No Private Inurement. No part of the income of the Foundation shall inure to the benefit of any trustee, Director, officer of the Foundation, or any private individual (except that reasonable compensation may be paid for services rendered to or for the Foundation effecting one or more of its purposes), and no Director, officer of the Foundation or any private individual shall be entitled to share in the distribution of any of the corporate assets upon dissolution of the Foundation.
No Private Inurement. (a) Neither the Donor nor any other person may receive any benefit or privilege in return for a distribution from the Fund.
No Private Inurement. No part of its assets, income or earnings shall inure to the benefit of, or be distributable to, any Member, officer, employee or any private individual, except that reasonable compensation may be paid for services rendered to or for the Company effecting one or more of its objects and purposes or for reimbursement of expenses incurred on behalf of the Company. No Member, officer or employee of the Company, or any private individual, shall be entitled to share in the distribution of any of the Company’s assets on dissolution of the Company.
No Private Inurement. No part of the net earnings of the Company shall inure to the benefit of, or be distributable to, its Officers, Directors, or other private persons. However, the Company shall be authorized and empowered to pay reasonable compensation for services rendered to it or on its behalf, pay reimbursements for expenses incurred on its behalf, and make payments and distributions in furtherance of the charitable and educational purposes, and other purposes set forth in the Company’s Articles and/or this Operating Agreement, as amended from time to time.
No Private Inurement. Provided, however, that no part of the net earnings of the Corporation shall inure to the benefit of any private individual, no substantial part of the activities of the Corporation shall be carrying on propaganda or otherwise attempting to influence legislation, and the Corporation shall not participate in, or intervene in, any political campaign on behalf of any candidate for public office.
No Private Inurement. No part of the net earnings of the Corporation may inure to the benefit of, or be distributable to, the directors or officers of the Corporation, or to any other private persons, except that the Corporation is authorized and empowered (i) to pay reasonable compensation for personal services rendered to the Corporation, so long as the services are reasonable and necessary to carrying out the charitable, educational and scientific purposes of the Corporation, and to reimburse expenses or advances made for the Corporation that are reasonable in character and amount, and (ii) to make payments and distributions to persons who are qualified to receive them in furtherance of the Corporation’s charitable, educational and scientific purposes as set forth herein. All of the net earnings and assets of the Corporation will be expended for the purposes stated in Section 501(c)(3) of the Internal Revenue Code.
