Livermore Lions Community Service Foundation - 501(c)(3)
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The Livermore Lions Club has established a California Public Benefit Corporation, CA2935594, which has also been determined to be exempt from Federal income tax under section 501(c)(3) of the Internal Revenue Code. Contributions are deductible under section 170 of the IRS code. The Foundation is qualified to receive tax deductible bequests, devises, transfers or gifts under section 2055, 2106, or 2522 of the IRS code and under section 23701d of the California Revenue and Taxation Code.
The Foundation has been determined by the IRS to be a public charity and a Type 2 supporting organization - (supervised or controlled in connection with a publicly supported organization). The Federal Employer Identification Number of the Foundation is 20-5457898. The effective date of exemption is November 14, 2006.
The Foundation is a Type 2 supporting organization for the Lions Club of Livermore California , PO Box 975, Livermore, California 94551, FEIN 23-7154824, a tax-exempt California 501(c)(4) corporation, C03000519, founded on March 28, 1955.
The Bylaws of the Livermore Lions Community Service Foundation provide the following:
The primary objectives and purposes of this corporation shall be to seek, raise, receive and accept property, whether real, personal, or mixed, by way of gift, bequest, or devise, from any person, firm, fund, or corporation, to be held, administered, and distributed to provide charitable assistance to members of the general public in financial need, with emphasis upon providing for vision care, hearing care, disaster assistance, the special needs of the developmentally impaired, the special needs of the elderly, and the health and educational needs of youth.
The Articles of Incorporation provide the following:
This corporation is a nonprofit public benefit corporation and is not organized for the private gain of any person. It is organized under the Nonprofit Public Benefit Corporation Law of California for charitable purposes. The specific purposes for which this corporation is organized are to raise and disperse funds to provide charitable assistance to members of the general public in financial need, with emphasis upon providing for vision care, hearing care, disaster assistance, the special needs of the developmentally impaired, the special needs of the elderly, and the health and educational needs of youth.
This corporation is organized and operated exclusively for charitable and educational purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code and of Section 214 of the California Revenue and Taxation Code.
The Bylaws of the Livermore Lions Club provide the following:
COMMUNITY SERVICE FOUNDATION FUND: A fourth fund shall be established to record all donations to and expenditures by the Livermore Lions Community Service Foundation. This is the non-profit, tax-exempt 501(c)(3) supporting organization of the Livermore Lions Club and is governed by the joint Board of Directors. Donations received are tax-deductible by the donor. All expenditures will be limited to charitable donations as permitted by its Corporate Chartering documents and by state and federal income tax code. Donations may be restricted to specific charitable causes permitted by the chartering documents or may be designated for the Endowment Fund. Undesignated donations shall accrue to the Endowment Fund. The Endowment Fund shall be a managed investment fund and shall continue to grow by donation, bequest, and accrued interest until the corpus reaches $500,000 at which time 50% of the annually accrued interest may be used for approved charitable causes. When the corpus reaches $1,000,000 it is intended that 100% of the annually accrued interest may be used for approved charitable causes. This Fund shall include a checking account, a savings account, and a managed investment account.
