« PreviousContinue »
If your sources of support, or your purposes, character, or method of operation change, please let your key District Director know so that office can consider the effect of the change on your exempt status.
Also, you should inform your key District Director of all changes in your name or address.
, you are not liable for social security (FICA) taxes unless you'file a waiver of exemption certificate as provided in the Federal Insurance Contributions Act. If you have paid FICA taxes without filing the waiver, you should contact your key District Director. You are not liable for the tax imposed under the Federal Unemployment Tax Act (FUTA).
Organizations that are not private foundations are not subject to the excise taxes under Chapter 42 of the Code. However, you are not automatically exempt from other federal excise taxes. If you have questions about excise, employment, or other federal taxes, contact any Internal Revenue Service office.
Donors may deduct contributions to you as provided in section 170 of the Code.
Bequests, legacies, devises, transfers, or gifts to you or for your use are deductible for federal estate and gift tax purposes if they meet the applicable provisions of sections 2055, 2106, and 2522 of the Code.
You are required to file Form 990, Return of Organization Exempt from Income Tax, only if your gross receipts each year are normally more than $10,000. If a return is required, it must be filed by the 15th day of the fifth month after the end of your annual accounting period. The law imposes a penalty of $10 a day, up to a maximum of $5,000, when a return is filed late, unless there is reasonable cause for the delay.
You are not required to file federal income tax returns unless you are subject to the tax on unrelated business income under section 511 of the Code. If you are subject to this tax, you must file an Income tax return on Form 990-T. In this letter, we are not determining whether any of your present or proposed activities are unrelated trade or business as defined in section 513 of the Code.
You need an employer identification number even if you have no employees. If an employer identification number was not entered on your application, a number will be assigned to you and you will be advised of it. Please use that number on all returns you file and in all correspondence with the Internal Revenue Service.
We are informing your key District Director of this action. Because this letter could help resolve any questions about your exempt status and foundation status, you should keep it in your permanent records.
If you have any questions, please contact the person whose name and telephone number are shown in the heading of this letter.
OFFICE OF RECORDER OF DEEDS, D. C.
515 D Screens, N. W. Washington, D. C 20001
THIS IS TO CERTIFY that all provisions of the District of Columbia Non-profit Corpora- ·
tion Act have been complied with and ACCORDINGLY this Certificate of Incorporation
FOUNDATION FOR THE PRESIDENT'S PRIVATE SECTOR is herr'sy issned to the .... SURVEY ON COST CONTROL, INC.
as of the date hereinafter mcutioned.
Date March 25, 1982
MARGURITE C. STOKES
Recorder of Deeds, D.C.
John M. Duta
John M. Duty
Steperintendent of Corporations
GOVERNMENT OF THE DISTRICT OF COLUMBIA
11-77038 FORN ADC SS
ARTICLES OF INCORPORATION
FOUNDATION FOR THE PRESIDENT'S PRIVATE SECTOR
SURVEY ON COST CONTROL, INC.
he, the undersigned natural persons of the age of twentyr 2 years or more, adopt the following Articles of Incorporation Įrsuant to the District of Columbia Non-profit Corporation Act:
FIRST: The name of the Corporation is "Foundation for the President's Private Seci or Survey on Cost Control, Inc." (hereinafter referred to as ihe "Foundation").
SECOND: The period of duration is perpetual.
THIRD: The purpose or purposes for which the Foundation is organized are as follows:
The primary purpose of the Foundation will be to assist the Private Sector Survey on Cost Control in the Federal Government established by the President of the United States. The Private Sector Survey will be headed by an Executive Committee composed of distinguished leaders in the country from the private sector. The task assigned to the Private sector Survey by the Presijent will be to review the Executive Branch of the Government in order to assist the various departments, agencies and independent establishments in performing their duties in the most efficient and cost-effective manner. The Survey will seek to identify areas of duplication, inefficiency or waste in the Government and to make recommendations with respect to improving managerial effectiveness and accountability. The Survey will submit one or more reports to the President.
The Foundation will assist the Private sector Survey by providing expert and professional services, office facilities, staff and other support services. The Foundation will bear the cost of the Survey other than those costs which will be borne by the members of the Executive Committee (who will be contributing their services, and the organizations with which they are associated.
The Foundation will not be operated for profit, The income, assets, properties and services of the Foundation will be used exclusively for charitable, scientific and educational purposes within the meaning of Section 501(c)(3) of the code (as defined in paragraph (9) of Article SIXTH below) and no part thereof shail inure to the benefit of any individual or any organization other than one qualified for a tax exemption under said Section 501(c)(3).
The Foundation shall not carry on propaganda or otherwise attempt to influence legislation; nor shall
it participate or intervene in (including the publishing or distributing of statements) any political campaign. on behalf of any w.andidate for public office.
The Foundation is not to have members.
FIFTH: The affairs of the Foundation shall be managed by a Board of Trustees. The number of trustees : hall be not more than fifteen (15) nor less than three (3) as shall be provided in the By-laws. Ti e trustees shall be elected for the term and in the manner provided in the By-laws.
SIXTH: The powers and activities of the Foundation shall be subject to the following restrictiuns and limitations:
(1) Notwithstanding iny other provision of phese Articles only such powers ihall be cxercised . sure in furtherance of the purposes of t... Foundation, i.nd as may be exercised by an orgiinization weapt under Section 501(c)(3) of the Code and by an organizition contributions to which are deductible under Section 170 (c) (2) of the Code.
(2) No part of the net culinings of the Foundation shall inure to the benefit of any trustee, officer or employee of the Foundation or any other individual, except that reasonable compensation buay be paid for personal services which are reasonable and necessary to carry out the exempt purposes of the Foundation pursuant to Section 501(c)(3) of the Code.
(3) None of the property of the Foundation, nor any profits thereof, shall, upon the liquidation, dissolution or winding up of the Foundation, whither voluntary, involuntary or by operation of law, b:2 distributed or divided imong the trustees, officers or employees of the Foundation, or any other individual, but such property or profits shall be distributed exclusively to charitable, scientific, or educational organizations which rould then qualify under the provisions of Section 501(c)(3) of the Code and also would meet the description of an organization described in Section 507 (b) (i) (A) of the code.
(4) The Foundation shall not engage in any act of self dealing as defined in Section 4941(a) of the Code.
(5) The Foundation shall distribute its income for each taxable year at such time and in such manner as not to become subject to the tax on undistributed income imposed by Section 4942 of the Code.
(6) The Foundation shall not retain any excess business holdings as defined in Section 4943 (c) of the Code.
(7) The Foundation shall not make any investments in such manner as to subject it to tax under Section 4944 of the Code.
(8) The Foundation shall not make any taxable expenditures as defined in Section 1945 (a) of the Code.
(9) References in these Articles to a section of the "code" is a reference to that section of the Internal Revenue Code of 1954 and the regulations issued thereunder as the same are now in effect and as they may hereafter be amended.
SEVENTH: The address, including street and number, of its initial registered office is 918 16th Street N.w., Washington, D.C. 20006 and the name of its initial registered agent at euch address is CT Corporation System.
EIGETH: The number of trustees constituting the initial Board of Trustees is three and the nines and cadre!:ses, including street and number of the persons who are to Live as the initial trustees until the first unnual meeting or until their successors be elected ind qualified are:
NINTH: The name and address, including street and number, of each incorporator is: