Purpose of the MGF from the Articles of Incorporation
(1) The Corporation is formed exclusively for charitable, educational and scientific purposes, including for such purposes, the making of distributions to organizations that qualify as exempt organizations under Section 501©(3) of the Internal Revenue Code as amended.
(2) Specifically the Corporation is organized to provide breeders and owners, of Murray Grey cattle, worldwide, a registry organization to document and parentage, blood lines and pedigree of their cattle, and to conduct research, studies and scientific investigations in the matter of improving the size, quality and improvements in the breed to better benefit the consuming public, studies into health, safety and disease related matters, meat quality, breeding and breeding effects, productivity and consumer satisfaction with breed products..
(3) Research and studies may be carried out by state universities and other scientific research entities, with a view to increasing the healthfulness of beef products by way of producing cattle with leaner meat products.
(4) To set up and promote scholarships for qualified students of agriculture in the areas of cattle management, feeding, breeding, marketing and such other areas of study as the Corporation may, from time to time, direct.
(5) To purchase equipment, scientific or otherwise as may be necessary or desirable to advance the study of all phases of breeding, raising and marketing of the Murray Grey breed, and to donate such equipment in institutions of higher learning or such other institutions which may advance the study and the body of knowledge pertaining thereto.
(6) To make public the results of all its scientific testing and studies to its members, institutions of higher learning and to the general public, by way of writings and the maintenance of a Murray Grey web site.
(7) No part of the net earnings of the Corporation shall inure to the benefit of, or be distributed 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 distributions in furtherance of the purposes set forth in Article Third hereof. 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 any candidate for public office. Notwithstanding any other provision of these Articles, the Corporation shall not carry on any other activities not permitted to be carried on (a) by a corporation exempt from federal income tax under section 501(c)(3) of the Internal Revenue Code or (b) by a corporation, contributions in which are deductible under section 170(c)(2) of the Internal Revenue Code.
(8) Upon dissolution of the Corporation, the Directors shall, after paying or making provision for the payment of all of the liabilities of the Corporation, dispose of all of the assets of the Corporation exclusively for the purposes of the Corporation in such manner, or to such other organization or organizations organized and operated exclusively for the charitable, educational or scientific purposes as shall at the time qualify as an exempt organization or organizations under section 501©(3) of the Internal Revenue Code or to such other organization with purposes similar to the purposes of this corporation, as the Directors shall determine. Any of such assets not so disposed of shall be disposed of by the court of common pleas of the county, in which the principal office of this corporation is then located, exclusively for such purposes and to such organization or organizations as said court shall determine which are organized and operated exclusively for such purposes.
(9) Requirements for membership in this Corporation shall be defined in the Code of Regulations or the By-Laws. The Corporation may, in addition to a Code of Regulations, enact By-Laws to regulate various aspects of the operation of the corporation.