Health Care

questions & answers

Question: Can I utilize financial funding from an established foundation (501(c)(3)) if the INCORPORATOR is placed in a senior living facility due to injury? Upon her discharge, 24 hour care will be required. If yes, how? Thank you.

Answer: A 501(c )(3) “nonprofit” corporation is an IRS category, (exempting charitable organizations from income tax), which is, in turn governed by state law and its own internal Articles of Incorporation and Bylaws (see Arizona Corporations Commission “Instructions C011i, Articles of Incorporation – Nonprofit Corporation”.) In Arizona 501 c(3) companies must follow their Bylaws with respect to directors’ and officer’s duties, and procedures in the event of such person’s "incapacitation", temporary or permanent. For example, one should be able to look to those Bylaws to learn who can/must take over the duties of an officer with financial responsibility when he/she becomes incapacitated.