The United Korean Martial Arts Foundation, LLC was organized in 2010 exclusively for educational, cultural and charitable purposes relating to the Korean Martial Arts worldwide; in particular to carry out the purely educational, cultural and charitable activities of the UKMAF. The educational, cultural and charitable activities of the Foundation relate principally to the Korean Martial Arts and include public educational and instructional programs involving research, publications, clinics, tournaments, the establishment of scholarships, the development of international cultural exchange programs and the training and certifications of Korean Martial Arts instructors and the training of elite Traditional Korean Martial Arts practitioners.
No part of the net earnings of the Foundation shall inure to the benefit of, or be distributable to its members, trustees, and officers, other private persons. No substantial part of the activities of the Foundation shall be the carrying on of propaganda, or otherwise attempting to influence legislation, and the Foundation 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 Foundation 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 corresponding section of any future federal tax code, or (b) by a corporation, contributions to which are deductible under section 170(c)(2) of the Internal Revenue Code, or corresponding section of any future federal tax code.
