279.62 - NONPROFIT SCHOOL ORGANIZATIONS.
279.62 NONPROFIT SCHOOL ORGANIZATIONS.
The board of directors of a school district may take action to
adopt a resolution to establish, and authorize expenditures for the
operational support of, an entity or organization for the sole
benefit of the school district and its students that is exempt from
federal income taxation under section 501(c)(3) of the Internal
Revenue Code. The entity or organization shall reimburse the school
district for expenditures made by the school district on behalf of
the entity or organization. Prior to establishing such an entity or
organization, the board of directors shall hold a public hearing on
the proposal to establish such an entity or organization. Such an
entity or organization shall maintain its records in accordance with
chapter 22, except that the entity or organization shall provide for
the anonymity of a donor at the written request of the donor. The
board of directors of a school district shall annually report to the
department of education and to the local community the administrative
expenditures, revenues, and activities of the entity or organization
established by the school district pursuant to this section. The
department shall include in its annual condition of education report
a statewide summary of the expenditures and revenues submitted in
accordance with this section. Section History: Recent Form
2005 Acts, ch 179, §92, 97
Referred to in § 11.6 Footnotes
Authorizations granted to school boards under this section apply
to entities or organizations established by a board of directors of a
school district before, on, or after July 1, 2005; 2005 Acts, ch 179,
§97