FRANCIS E LOW FOUNDATION, INC.
BY-LAWS – JANUARY 6, 2008
The purpose of the Francis E. Low Foundation is to raise funds for research into alternative energy for use in public organizations such as hospitals, churches and schools.
The entity was incorporated in the state of Pennsylvania.
Trustees will number, at a minimum, seven. The original seven Trustees shall constitute the first Board of Directors. They will be responsible to set in motion the request for contributions from the general public of New jersey, Pennsylvania, New York, and Delaware. Trustees shall serve a three-year term and can be re-nominated for a second three-year term. The trustees must consist of at least an accountant CPA and six lay persons. The Trustees will seek out new volunteers in the initial year of operation, 2008, seeking at least three more Trustees to reach a number of ten.
The trustees will meet periodically, as needed, to discuss the operation of the entity.
The corporation shall not have members.
The method of electing Trustees is set forth in the By-Laws of the Corporation.
The address, including actual location, as well as postal designation if different, of the Corporation’s initial registered office and the name of the Corporation’s initial registered agent at that address is:
William Block
124 Tunbridge Road
Haverford, PA 19041
The number of Trustees, not less then seven, constituting the first board and the names and addresses of the persons who are to serve as Trustees, which addresses shall be either the residence address of the person or other addresses where the person regularly receives mail and which is not the address of the Corporation, follows.
The duration of the Corporation shall be perpetual.
Said Corporation is organized exclusively for charitable, educational, religious and scientific purposes, including for such purposes, the making of the distributions to organizations that qualify as exempt organizations under section 501(c)(3) of the Internal Revenue Code or the corresponding section of any future federal tax code. No part of the net earnings of the Corporation shall inure the benefit of, or be distributable to, its members, Trustees, officers or other private persons, except that the Corporation shall be authorized and empowered to pay reasonable compensation for services rendered and to make payments and distributions in furtherance of the purposes set forth.
No substantial part of the activities of the Corporation shall be the carrying on propaganda, or otherwise attempting to influence legislation and the Corporation shall not participate in, or intervene in (including the publishing or distribution of statements) any political campaign on behalf of any candidates for public office.
The Trustees should not have any relationship with any businesses receiving payment for services in the research and funding in the alternative energy field.
Notwithstanding any other provisions of these articles, the Corporation shall not carry on any other activities not permitted to be carried on (a) by a corporation exempt from federal income tax under section 501(c)(3) of the Internal Revenue code, or the corresponding section of any future federal tax code or (b) by a corporation, contributions to which are deductible under section 170(c)(3) of the Internal Revenue Code, or the corresponding section of any future federal tax code.
Upon the dissolution of the corporation, assets shall be distributed for one of more exempt purposes within the meaning of section 501(c)(3) of the Internal Revenue code, or the corresponding section of any future federal tax code, or shall be distributed to the federal government, or to a state or local government, for a public purpose. Any such assets not so disposed of, shall be disposed of by a court of Competent Jurisdiction of the country in which the principal office of the Corporation is then located exclusively for such purposes or to such organization or organizations, as said Court shall determine which are organized and operated, exclusively for such purposes.
