Massachusetts General Laws
Chapter 155 - General Provisions Relative to Corporations
Section 12c - Contributions for Charitable, Scientific or Educational Purposes

Section 12C. Every corporation may, by its articles of organization or by-laws or by a general or special vote of its stockholders or members, authorize its directors, or its officers having the powers of directors, to make contributions, in such amounts as said directors or officers may determine to be reasonable, to corporations, trusts, funds or foundations, organized and operated exclusively for charitable, scientific or educational purposes, no part of the net earnings of which inures to the benefit of any private shareholder or individual; provided, that in the case of a corporation having capital stock, contributions in any fiscal year shall not in the aggregate exceed one half of one per cent of its capital and surplus as of the end of the preceding fiscal year, unless contributions in excess of one half of one per cent of such capital and surplus shall be authorized by the stockholders of the corporation at a regular or special meeting, and, in the case of a corporation not having capital stock, contributions in any fiscal year shall not in the aggregate exceed one half of one per cent of the surplus of such corporation as of the end of the preceding fiscal year, unless contributions in excess of one half of one per cent of such surplus shall be authorized by the members of the corporation at a regular or special meeting. Nothing in this section shall be construed as directly or indirectly restricting or otherwise affecting, except as herein provided, the rights and powers of any corporation with reference to payments of the nature above specified.

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