This corporation
is organized exclusively for charitable and educational purposes
including for such purposes
the making of distributions to organizations that qualify as exempt
under section 501(c)(3) of the Internal Revenue Code, or the corresponding
section of any future tax code; the owning and operating an educational
radio station; and any other purpose permitted by law. No part
of the net earnings of the corporation shall inure to the benefit
of,
or be distributable to, its members, directors, 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 distribution in furtherance of the purposes
set forth herein. 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 or in opposition to any candidate
for public office. Notwithstanding any other provision of these
articles, this corporation shall not, except to an insubstantitial
degree,
engage in any activities or exercise any powers that are not in
furtherance of the purposes of this corporation. Upon the dissolution
of the
corporation, assets shall be distributed for one or more exempt
purposes within the meaning of section 501(c)(3) of the Internal
Revenue Code
of 1954 (or the corresponding provision of any future United States
Law), 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 county in which the principal office of the corporation
is then located, for such purposes or to such organization or organizations,
as said court shall determine, which are organized and operated
exclusively
for such purposes. |