Eligible applicants are Sponsors or Co-Sponsors that are private non-profit organizations that have tax-exempt status under Section 501(c)(3) of the Internal Revenue Service Code of 1986, other than institutions of higher education, and who meet the threshold requirements contained in Section III, D below. The Owner corporation, when later formed by the Sponsor, must be: A single-purpose and single-asset private non-profit organization that has tax-exempt status under Section 501(c)(3) of the Internal Revenue Service Code of 1...
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