Colorado § 7-30-101.2 Charitable nonprofit corporations - private foundations

Colorado Statutes

§ 7-30-101.2 — Charitable nonprofit corporations - private foundations

Colorado § 7-30-101.2

Title 07Corporations

Art.Uniform Unincorporated Nonprofit

This text of Colorado § 7-30-101.2 (Charitable nonprofit corporations - private foundations) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 7-30-101.2 (2026).

Text

(1)As used in this section, charitable purposes means one or more charitable purposes enumerated in section 501(c)(3) of the federal Internal Revenue Code of 1986, as amended, hereinafter referred to as the internal revenue code and formed exclusively for one or more charitable purposes.

(2)In the case of a deemed unincorporated organization, its articles of incorporation shall be presumed to be its principal governing document for the purposes of this section.

(3)Except as otherwise provided in its constitution, articles of association, or other principal governing document, the purposes of a charitable nonprofit association and the disposition of its assets upon liquidation shall be limited to charitable purposes.

(4)Except as otherwise expressly provided in its constitut

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(1) As
used in this section, charitable purposes means one or more charitable purposes
enumerated in section 501(c)(3) of the federal Internal Revenue Code of 1986, as
amended, hereinafter referred to as the internal revenue code and formed
exclusively for one or more charitable purposes.

(2) In the case of a deemed unincorporated organization, its articles of
incorporation shall be presumed to be its principal governing document for the
purposes of this section.

(3) Except as otherwise provided in its constitution, articles of association, or
other principal governing document, the purposes of a charitable nonprofit
association and the disposition of its assets upon liquidation shall be limited to
charitable purposes.

(4) Except as otherwise expressly provided in its constitution, articles of
association, or a principal governing document, or otherwise determined by a court
of competent jurisdiction, a charitable nonprofit association that is also a private
foundation within the meaning of section 509 (a) of the internal revenue code:

(a) Shall distribute such amounts for each taxable year at such time and in
such manner as not to subject the nonprofit corporation to tax under section 4942
of the internal revenue code;

(b) Shall not engage in any act of self-dealing as defined in section 4941(d)
of the internal revenue code;

(c) Shall not retain any excess business holdings as defined in section
4943(c) of the internal revenue code;

(d) Shall not make any investments that would subject the nonprofit
association to taxation under section 4944 of the internal revenue code;

(e) Shall not make any taxable expenditures as defined in section 4945(d) of
the internal revenue code.

Legislative History

Source: L. 97: Entire section added, p. 645, � 2, effective July 1, 1998. L. 98: (4)(d) amended, p. 611, � 1, effective July 1. L. 2003: (1) amended, p. 2202, � 1, effective July 1, 2004.