Excess Benefit Transaction definition

Excess Benefit Transaction means any transaction in which an economic benefit is provided by the Non-Profit, directly or indirectly, to or for the use of a disqualified person and the value of the economic benefit provided by the Non-Profit exceeds the value of the consideration (including the performance of services) received by the Non-Profit. A "disqualified person" is any person who was in a position to exercise substantial influence over the affairs of the non-profit at any time during a five-year lookback period, ending on the date of the transaction, and includes but is not limited to the Non-Profit's directors, officers, and Related Parties, as defined herein.

Excess Benefit Transaction means an “excess benefit transaction” as that term is defined in Section 4958(c) of the Internal Revenue Code of 1986, as amended.

Excess Benefit Transaction means an “excess benefit transaction” as that term is defined in Section 4958(c) of the Internal Revenue Code, 26 U.S.C. §4958(c)

Examples of Excess Benefit Transaction in a sentence

• For an explanation of the meaning of Excess Benefit Transaction and the Internal Revenue Service safe harbor approval procedures, please see Exhibit A.In addition to the prohibition on Excess Benefit Transactions, the Internal Revenue Code requires that the Foundation be operated exclusively for charitable purposes and as such any arrangement involving private inurement or private benefit is forbidden.

• After disclosure of the Possible Conflict of Interest and all material facts, the Board of Trustees shall decide if a Conflict of Interest or Excess Benefit Transaction exists.

• Excess Benefit Transaction means an “excess benefit transaction” as that term is defined in Section 4958 of the Internal Revenue Code of 1986, as amended.

• Pursuant to the Regulations issued under Code Section 4958, a rebuttable presumption that a transaction is not an Excess Benefit Transaction may be established.

• An Excess Benefit Transaction shall be considered aconflict of interest.

More Definitions of Excess Benefit Transaction

Excess Benefit Transaction means an “excess benefit transaction” as that term is defined in Section 4958 of the Internal Revenue Code of 1986, as amended.

Excess Benefit Transaction means any transaction or arrangement in which an economic benefit is provided by the Corporation, directly or indirectly, to or for the use of any Interested Person (including members of his or her family and any entity which is thirty-five percent (35%) owned or controlled by such Interested Person) if the value of the economic benefit provided exceeds the value of the consideration (including the performance of services) received for providing such benefit.

Excess Benefit Transaction means a transaction as defined in Internal Revenue Code, Title 26 §4958 (c)(1).

Excess Benefit Transaction means any transaction in which an economic benefit is provided by an applicable tax-exempt organization directly or indirectly to or for the use of any disqualified person if the value of the economic benefit provided exceeds the value of the consideration (including the performance of services) received for providing such benefit.

Excess Benefit Transaction means a transaction in which an economic benefit is provided by the Corporation, directly or indirectly, to or for the use of a disqualified person, and the value of the economic benefit provided by the Corporation exceeds the value of the consideration received by the Corporation.

Excess Benefit Transaction means any transaction or arrangement in which an economic benefit is provided by the Corporation, directly or indirectly, to or for the use of any Interested Person (including members of his or her family and

Excess Benefit Transaction means a benefit transaction where the value of the economic benefits, directly or indirectly, to a subject person, family member or affiliate exceeds the value of consideration (including the performance of services) received for providing such benefit. Excess benefit transactions include (a) compensation which exceeds the amount that entities similar to Rider would pay for similar services under similar circumstances, (b) transactions that are not based on fair market value, (c) transactions in which the subject person, family member of affiliate participants in a joint venture with Rider and earns income from the venture disproportionate to his, her or its capital investment, and (d) such to her transactions as may be set forth in applicable regulations to Sec. 4958 if the Internal Revenue Code.