Oklahoma SB517 authorizes the establishment of the ODVA Foundation to support veterans, reservists, and their dependents.
Oklahoma SB517 creates the ODVA Foundation, a private, charitable, not-for-profit entity to encourage financial contributions for educational, training, and empowerment initiatives. The Oklahoma Veterans Commission will determine the initial members of the Foundation's board, which will operate exclusively for charitable and educational purposes. The Oklahoma Department of Veterans Affairs will be authorized to create the board, but no employee of the department can be a voting member. The Foundation will be exempt from taxes under Section 501(c) of the Internal Revenue Code.
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