Scra Applied R & D

Advanced technology international (ati) is organized exclusively to lessen the burdens of government and for such charitable, educational, and scientific purposes as will qualify it for exemption from federal income tax as an organization described by section 501(c)(3) of the internal revenue code of 1986. The corporation is authorized (a) to facilitate collaboration among government agencies, academia, and industry in order to identify technology solutions that contribute to operational and cost efficiencies; (b) to take and hold by bequest, devise, gift, grant, purchase, lease or otherwise any property, real, personal, tangible or intangible, or any undivided interest therein, without limitation as to amount or value; to sell, convey, or otherwise dispose of any such property and any interest therein and to invest, reinvest or deal with the principal or the income thereof in such manner as, in the judgment of the directors, will best promote the purposes of the corporation without limitation, except such limitations, if any, as may be contained in the instrument under which such property is received, the corporation's articles of incorporation, the bylaws of the corporation, or any laws applicable thereto; and (c) to do any other act or thing incidental to or connected with the foregoing purpose or in advancement thereof within the general powers enumerated in the south carolina nonprofit corporation act of 1994 (or the corresponding provisions of any subsequent law); notwithstanding the foregoing, (I) the corporation has not been formed for pecuniary profit or financial gain, and no part of the assets, income, or profits of the corporation is or shall be distributable to, or inure to the benefit of, its directors or officers except to the extent permitted under the laws of south carolina relating to nonprofit corporations and the applicable provisions of the irc governing income tax exempt organizations; (ii) no substantial part of the activities of the corporation shall be the carrying on of 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 candidate for public office; and (iii) the corporation shall not carry on any other activities not permitted to be carried on by: (a) a corporation exempt from federal income tax under irc section 501(c)(3); or (b) a corporation, contributions to which are deductible under irc section 170(c).