6670 - EDUCATIONAL FOUNDATION

Greater Clark County School Corporation

Bylaws & Policies

6670 - EDUCATIONAL FOUNDATION

The School Board may receive the proceeds from a grant, a restricted gift, an unrestricted gift, a donation, an endowment, a bequest, a trust, an agreement to share tax revenue received by a city or county, or other funds not generated from taxes levied by the School Corporation to create a foundation if the foundation is:

	A.	exempt from Federal taxation under Section 501 (c)(3);

	B.	organized as an Indiana nonprofit corporation for the purpose of providing education funds for scholarships, teacher education, capital programs, and special programs.

I.C. 20-26-5-22.5