IABAT shall be a Nonprofit tax exempt, religious entity without political affiliations, organized under North Carolina law and shall be subject to all provisions of the Federal Income Tax laws under Section 501(c)(3) of the Internal Revenue Code (or corresponding section of any future Federal tax code) and shall meet the provisions of an organization, constitutions to which are deductible under Section 170(c)(2) of the Internal Revenue Code (or corresponding Section of any future Federal tax code).