Sec. 36. As used in this article, "eligible community foundation" means an organization that: (1) is exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code; (2) satisfies the public support test of Section 170(b)(1)(A)(vi) of the Internal Revenue Code; (3) is an autonomous, nonsectarian philanthropic institution with permanent, component funds established by many separate donors; (4) is accredited under national standards for United States Community Foundations established by the Community Foundations National Standards Board; and (5) supports a broad range of charitable activities within a specific geographic area in Indiana. The term includes an affiliate fund of an eligible community foundation.
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