Muscatine Chamber of Commerce Foundation

The corporation is organized and shall be operated exclusively for charitable, scientific, literary, and education purposes, all within the meaning of section 501(c)(3) of the internal revenue code (or its successor statute) and applicable regulations. The corporation shall receive and maintain a fund or funds of real or personal property, or both, and use and apply all or any part of the income and principal exclusively for such purposes, either directly or by contributions to organizations that qualify as exempt organizations under section 501(c)(3) of the internal revenue code.