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THE IVY CENTER FOUNDATION OF NASHVILLE, INC.

OUR PURPOSE

PURPOSE

The Foundation is organized and shall be administered and operated exclusively for charitable, educational, and all other purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the “Code”). Without limiting the foregoing, the principal purposes for which the Foundation is organized are: 

(a) to receive and secure donations and gifts from individuals, groups, organizations, and other persons and manage the use of the same to promote its charitable and educational purposes, including, without limitation:

        (i) to award scholarships to college-bound high school seniors, 

        (ii) to endow scholarship funds at Historically Black Colleges and Universities and at other institutions exempt from federal income taxation as organizations

        described under Section 501(c)(3) of the Code, 

        (iii) to fund ongoing research and other activities being conducted by other organizations or institutions exempt from federal income taxation as organizations                  described under Section 501(c)(3) of the Code, and 

        (iv) to provide a meeting place for developing, implementing, and/or conducting community service programs;

(b) to, alone or in cooperation with other persons or organizations, do any and all lawful acts and things that may be necessary, useful, suitable, or proper for the furtherance, accomplishment, or attainment of any or all of the purposes or powers of the Foundation;

(c) to otherwise solicit, collect, receive, accumulate, invest, administer, and disburse funds in such a manner as will, in the sole discretion of the Board of Directors of the Foundation, most effectively operate to further the charitable, educational, and other purposes that qualify under Section 501(c)(3) of the Code; and 

(d) to make distributions for those purposes as specified in Section 501(c)(3) of the Code 

      (i) to organizations that qualify as exempt organizations under Section 501(a) of the Code and are more particularly described in Section 501(c)(3) of the Code  and/or

      (ii) to organizations or persons described in Section 170(c)(1) or (2) of the Code.

Further, at such time as is deemed necessary, funds from grants and donations may be used to maintain the building in order to manage and carry out the business of the Foundation and to provide a meeting place for community service programs.