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Nonprofit Overview
Causes: Philanthropy, Private Operating Foundations
Programs: The foundation owns real estate and will rent the property exclusively to non-profit entities within the meaning of section 501(c)(3) of the internal revenue code of 1986, as amended or corresponding section of any future federal tax code. To this end, the foundation purchased 122 wooded acres in middle tennessee that includes a small lodge formally used for corporate retreats, day meetings, wedding ceremonies, and similar events. The property was purchased in july, 2006. The foundation recognizes that non-profits sometimes encounter financial difficulties. The foundation will provide affordable rental property to allow the distressed non-profit entity to become financially secure and continue the purposes as set in its organizing document. By providing affordable rental property, the public benefits with the continuance of non-profit entities that would otherwise potentially fail due to financial difficulties. The foundation negotiated a residential lease agreement ("lease") on septem