The
Bosque Lluvioso Foundation
P.O. Box 520022
Salt Lake City, Utah
84152-0022 U.S.A.
Phone (801) 463-4675
Fax (801) 277-0665
NON
PROFIT STATUS
William Connelly, Randall Tolpinrud and Jerry
Robinson have formed a charitable organization pursuant to the provisions
of the Utah Nonprofit Cooperative Association Act. The organization is
known as The Bosque Lluvioso Foundation. The purpose of the Foundation
is to acquire and preserve and/or restore rainforest located in the Guapiles
area of Costa Rica for scientific and educational purposes.
The Foundation has been established as a corporation
exempt from taxes under section 501(c)(3) of the Internal Revenue Code
of 1986 ("the Code") so that gifts and contributions to the foundation
will be deductible as charitable contributions under section 170(c)(2)
of the Code. The organization documents of the Foundation must contain
certain provisions, including the following:
No part of the earnings of the Foundation may inure to the
benefit of or be distributed to its members, trustees, officers
or other private persons, except the Foundation may pay reasonable
compensation for services actually rendered and may make payments
and distributions in furtherance of the purposes for which the
foundation was organized.
No substantial part of the activities of the Foundation may
be the carrying on of propaganda or otherwise attempting to influence
legislation, and the Foundation may not participate in or intervene
in any political campaign on behalf of any candidate for public
office.
The Foundation must distribute its income for each taxable
year at such time and in such manner as not to become subject
to the tax on undistributed income imposed by section 4942 of
the Code.
The Foundation may not engage in any act of self-dealing as
defined in section 4941(d) of the Code.
The Foundation may not retain any excess business holdings
as defined in section 4943(c) of the Code.
The Foundation may not make any investments in such manner
as to subject it to tax under section 4944 of the Code.
The Foundation may not make any taxable expenditures as defined
in section 4945(d) of the Code.
Upon dissolution of the Foundation, after paying or making
provision for payment of all liabilities of the Foundation, the
Board of Trustees must dispose of all of the remaining assets
to one or more organizations formed and operating exclusively
for charitable, educational, religious or scientific purposes
and which at the time are qualified as exempt under section 501(c)(3)
of the Code
