An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

Nonprofit entity

An organization that operates for a public or social benefit, rather than for profit, and is typically exempt from certain taxes.

Section 501 of the Internal Revenue Code

The part of U.S. tax law that grants tax-exempt status to various types of nonprofit organizations, such as charities, religious groups, and educational institutions.

Federal funds

Money provided by the U.S. government through grants, contracts, or other forms of financial assistance.

Tax exemption

A legal status that frees an organization from the obligation to pay certain federal taxes, such as income tax.

Officer of such entity

A person holding a key management position within an organization, such as a CEO, president, treasurer, or secretary.

Board of directors

A group of individuals elected or appointed to oversee the management of an organization, make major decisions, and ensure it operates in line with its mission.

Convicted of an offense

Found guilty of a crime by a court of law, either through a verdict or a plea.