A community-based development organization is an organization that:

(1) Is established under the state charter provisions of the Tennessee Code;
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Terms Used In Tennessee Code 13-14-202

  • Code: includes the Tennessee Code and all amendments and revisions to the code and all additions and supplements to the code. See Tennessee Code 1-3-105
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
(2) Has qualified for tax exempt status under § 501(c)(3) of the Internal Revenue Code (26 U.S.C. § 501(c)(3));
(3) Has a purpose, stated in the articles of incorporation, to serve low and moderate income people’s need for community development and community self-help;
(4) Was not organized and is not controlled by governmental entities or agents; and
(5) Was not organized and is not controlled by a for-profit entity or agent.
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