general funding contribution

Defined in 1 dictionary — U.S. Code

United States Code

26 U.S.C. § 530A — for purposes of this section

The term “general funding contribution” means a contribution which—

(A) is made by—

(i) an entity described in section 170(c)(1) (other than a possession of the United States or a political subdivision thereof) or an Indian tribal government, or

(ii) an organization described in section 501(c)(3) and exempt from tax under section 501(a), and

(B) which specifies a qualified class of account beneficiaries to whom such contribution is to be distributed.