Keep Evansville Beautiful Inc.

“These funds are restricted by the donors to be held permantly by the organization. The organization (resource provider) created an endowment fund with the community foundation alliance (recipient organization) in which the organization specified itself as the beneficiary. Variance power was granted to the recipient organization. Grants to be distributed are based on the recipient organization's spending policy using one of two calculations: 4.5% of the fund's average balance of the previous twenty quarters, if the orginal gift value is preserved after granting or if the funds are below original gift value, the annual distributions are based on the one-half of the total net investment return (dividends, interest, realized gains (losses), unrealized gains (losses) minus fees) on the value of the funds of the prior twelve months, limited to no less than 1% but no more than 4.5%. The organization transfers permanently restricted contributions from the donors to the community foundation. Prior to 2014, the annual income distributions received from the fund were transfered back to the community foundation.”

“Intended uses for endowment funds these funds are restricted by the donors to be held permantly by the organization. The organization (resource provider) created an endowment fundwith the community foundation alliance (recipient organization) in which the organization specified itself as the beneficiary. Variance power was granted to the recipient organization's spending policy using one of two calculations: 4.5% of the fund's average balance of the previous twenty quarters, if the orginal gift value is preserved after granting or if the funds are below original gift value, the annual distributions are based on the one-half of the total net investment return (dividends, interest, realized gains (losses), unrealized gains (losses) minus fees) on the value of the funds of the prior twelve months, limited to no less than 1% but no more than 4.5%. The organization transfers permanently restricted contributions from the donors to the community foundation. Prior to 2014, the annual income distributions received from the fund were transfered back to the community foundation.”

“The organization is exempt from federal income tax under section 501(c)(3) of the internal revenue code. In addition, the organization qualifies for the charitable contribution deduction under section 170(b)(1)(a) and has been classified as an organization other than a private foundation under section 509(a)(2). The organization's form 990 and indiana form np-20 are generally no longer subject to examination by taxing authorities for years ending before september 30, 2020.”