qualified nonprofit organization

Defined in 1 dictionary — U.S. Code

United States Code

26 U.S.C. § 42 — for purposes of this section (4 versions over time)

For purposes of this paragraph, the term “qualified nonprofit organization” means any organization if—

(i) such organization is described in paragraph (3) or (4) of section 501(c) and is exempt from tax under section 501(a),

(ii) such organization is determined by the State housing credit agency not to be affiliated with or controlled by a for-profit organization, and

(iii) 1 of the exempt purposes of such organization includes the fostering of low-income housing.