DRAFT ONE
ARTICLES OF INCORPORATION
OF
Alberton Community Foundation
These Articles of Incorporation are executed by the undersigned for the purpose of forming a Public Benefit Foundation under the Montana Nonprofit Corporation Act.
ARTICLE I
The name of this corporation shall be: “ALBERTON COMMUNITY FOUNDATION.”
ARTICLE II
The period of existence of this foundation shall be perpetual.
ARTICLE III
This is a Public Benefit foundation organized exclusively for charitable, educational or scientific purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code.
Its purpose shall be to assist in the development of projects, undertakings, studies, training programs, workshops and other activities beneficial to the public interest, in cooperation and in coordination with local governmental, civic bodies and other groups, corporations or individuals to: aid, assist and foster the planning, development, and improvement of the Alberton community and surrounding area of Mineral County Montana; to promote social welfare, relief of the unemployed or underemployed; to secure adequate housing, community facilities and other related facilities, services and conditions, economic and otherwise, conducive to the progress and general welfare of the community; to conduct research in the public interest for purposes of aiding the community by attracting new industry to the community and by encouraging the development and retention of industries within the Alberton trade area; and to that end:
1. To encourage and assist in the preparation of plans, surveys, studies and recommendations;
2. To investigate and study general specific economic conditions and support activities within the community with an aim to increase economic activity, employment, tax base and opportunity
3. To assist in finding sources of funding and financing for plant and equipment for local business concerns, either by funds solely from its source or in conjunction with the Small Business Investment Act of 1958 and other such programs, when such assistance will result in broad economic benefit to the area through job expansion or retention; to assist local businesses to expand to provide a means of livelihood and expanded job opportunities for unemployed and underemployed area residents; and to help establish new business in the area and to rehabilitate existing or former businesses that have deteriorated where it can be shown to be in the public interest and beneficial to the area’s overall economic condition.
4. To encourage citizen participation in improvements and improvement programs and to disseminate information to the general public concerning the objectives and purposes of such programs;
5 To purchase, take, receive, lease, accept by gift, devise or bequest, or otherwise acquire, own, hold, improve, use and otherwise deal in and with real and personal property, or any interest therein, wherever situated;
6. To make contracts and incur liabilities, receive grants of money, borrow money at such rates of interest as the foundation may determine, issue its notes, bonds, and other obligations and secure any of its obligations by mortgage or pledge of all or any of its property, franchises and income;
7. To carry on any of the foregoing activities or purposes either directly, or as agent for or with other persons, associations or corporations;
8. To carry on any activity and to deal with and expend any such property or income there from for any of the foregoing purposes without limitation, except such limitations, if any, as may be contained in the instrument under which such property is received, the Certificate of Incorporation, the By-laws of the foundation or any other limitations as are prescribed by law, provided that no such activity shall be such as is not permitted by a foundation exempt from Federal Income Tax; under Section 501 (c) (3) of the Internal Revenue Code of 1954 or any corresponding future provision of the Revenue Code, and that the foundation shall not attempt to influence legislation by propaganda or otherwise, nor shall it intervene in or participated in, any political campaign on behalf of any candidate for public office, and provided further that no part of the net earnings of this foundation shall inure to the benefit of any member or private individual and no member, director or officer of the foundation shall receive any pecuniary benefit from the foundation, except such reasonable compensation as may be allowed for services actually rendered to the foundation.
9. To have and exercise all powers necessary or convenient to affect any or all of its purposes and to have and exercise all powers granted non-profit foundations by the laws of the State of Montana.