{"data":{"id":"us-mi/mich.-comp.-laws-128.3","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 128.3","heading":"\"Community foundation\" and \"municipality\" defined.","body":"Sec. 3.\n\nAs used in this act:\n\n(a) \"Community foundation\" means an organization that meets all of the following requirements:\n\n( i ) Has been in existence for at least 10 years.\n\n( ii ) Has assets of at least $10,000,000.00.\n\n( iii ) Qualifies for exemption from federal income taxation under 501(c)(3) of the internal revenue code, 26 USC 501(c)(3).\n\n( iv ) Supports a broad range of charitable activities within the specific geographic area of this state that it serves, such as a municipality.\n\n( v ) Maintains an ongoing program to attract new endowment funds by seeking gifts and bequests from a wide range of potential donors in the geographic area served.\n\n( vi ) Is publicly supported, as defined by 26 CFR 1.170A-9(f).\n\n( vii ) Meets the requirements for treatment as a single entity under 26 CFR 1.170A-9(f)(11).\n\n( viii ) Is not an organization described in section 509(a)(3) of the internal revenue code, 26 USC 509(a)(3).\n\n( ix ) Has an independent governing body representing the general public's interest and that is not appointed by a single outside entity.\n\n( x ) Maintains continually at least 1 part-time or full-time employee beginning not later than 6 months after the community foundation is incorporated or established.\n\n( xi ) Is subject to an annual independent financial audit.\n\n( xii ) For a community foundation that is incorporated or established after January 9, 2001, operates in a county of this state that was not served by a community foundation when the community foundation was incorporated or established or operates as a geographic component of an existing community foundation.\n\n(b) \"Municipality\" means a city, village, township, or county.","path":["MI Code","Chapter 128","Act Act-215-of-1937"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-128-3","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"3d949a0e12e7549a2953546f1fde2e2742c2a4fcaeae703772f2926325b51bc1","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-128.2","next":"us-mi/mich.-comp.-laws-128.4"},"notice":"GroundRules: Original legal text. Not legal advice."}