As used in KRS § 147A.300 to KRS § 147A.330, unless the context requires otherwise:
(1) “Affiliate community foundation” means a philanthropic foundation organized or operating to serve an identified geographic area within the Commonwealth, and which:
(a) Is affiliated with a qualified community foundation; and
(b) Is certified by the commission pursuant to KRS § 147A.325;
(2) “Commission” means the Endow Kentucky Commission established in KRS
147A.330;
(3) “County-specific component fund” means a fund of a qualified community foundation that is restricted to serve an individual county;
(4) “Endowment gift” means an irrevocable contribution to a permanent endowment held by a qualified community foundation, county-specific component fund, or affiliate community foundation;
(5) “Fund” means the community endowment fund established by KRS § 147A.315; and
(6) “Qualified community foundation” means a philanthropic foundation organized or operating in the Commonwealth that:
(a) Substantially complies with the national standards for community foundations established by the National Council on Foundations;
(b) Is classified as a 501(c)(3) tax-exempt organization by the Internal Revenue
Service; and
(c) Is certified by the commission pursuant to KRS § 147A.325.
Effective: July 15, 2010
History: Created 2010 Ky. Acts ch. 71, sec. 3, effective July 15, 2010.