Illinois HB1557 amends the Charitable Trust Stabilization Act to set eligibility criteria for grants.
Illinois HB1557 amends the Charitable Trust Stabilization Act to establish eligibility criteria for grants. To qualify, an organization must be a not-for-profit corporation exempt from federal income tax, organized to provide charitable services, and compliant with the Charitable Trust Act. Additionally, the organization must have a staff or board that is completely voluntary or has the equivalent of not more than one full-time paid employee.
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