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The
Bosque Lluvioso Foundation
P.O. Box 520022
Salt Lake City, Utah
84152-0022
U.S.A.
Phone (801) 463-4675
Fax (801) 277-0665
memberships@bosque-u.com |
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NON PROFIT
STATUS William Connelly, Randall Tolpinrud
and Jerry Robinson have formed a charitable organization pursuant to the provisions
of the Utah Nonprofit Cooperative Association Act. The organization is known as
The Bosque Lluvioso Foundation. The purpose of the Foundation is to acquire and
preserve and/or restore rainforest located in the Guapiles area of Costa Rica
for scientific and educational purposes. The Foundation
has been established as a corporation exempt from taxes under section 501(c)(3)
of the Internal Revenue Code of 1986 ("the Code") so that gifts and contributions
to the foundation will be deductible as charitable contributions under section
170(c)(2) of the Code. The organization documents of the Foundation must contain
certain provisions, including the following:
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- No part of the earnings of the Foundation may inure to the benefit of
or be distributed to its members, trustees, officers or other private persons,
except the Foundation may pay reasonable compensation for services actually rendered
and may make payments and distributions in furtherance of the purposes for which
the foundation was organized.
- No substantial part of the activities
of the Foundation may be the carrying on of propaganda or otherwise attempting
to influence legislation, and the Foundation may not participate in or intervene
in any political campaign on behalf of any candidate for public office.
- The Foundation must 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.
- The Foundation may not
engage in any act of self-dealing as defined in section 4941(d) of the Code.
- The Foundation may not retain any excess business holdings as defined
in section 4943(c) of the Code.
- The Foundation may not make
any investments in such manner as to subject it to tax under section 4944 of the
Code.
- The Foundation may not make any taxable expenditures
as defined in section 4945(d) of the Code.
- Upon dissolution
of the Foundation, after paying or making provision for payment of all liabilities
of the Foundation, the Board of Trustees must dispose of all of the remaining
assets to one or more organizations formed and operating exclusively for charitable,
educational, religious or scientific purposes and which at the time are qualified
as exempt under section 501(c)(3) of the Code
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