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The original articles of incorporation were restated on
September 13, 2001, and January 9, 2002, to provide:
PEOPLES PRIZE is organized exclusively for charitable,
religious, educational, and scientific purposes, including,
for such purposes the making of distributions to
organizations that qualify as exempt organizations under
section 501(c)(3) of the Internal Revenue Code, or the
corresponding section of any future federal tax code.
PEOPLES PRIZE will fulfill these purposes by creating and
administering prizes for humanitarian goals. The prizes
will be broad based, consisting of donations of at least
$1.00 (one dollar US currency) per person.
Petitioner does not intend to commence operations until it
receives recognition as a section 501(c)(3) organization. In
response to respondent’s requests to provide greater detail about
its proposed activities, petitioner provided the following
description:
Peoples Prize plans to become an Internet-based appeal for
support of bold humanitarian goals. * * * All monetary
contributions that we receive from individuals and from any
source will be applied to prizes. We will be posting the
amount of contributions, the amount of prizes (these will be
identical), and the number of contributions on the website
daily or as frequently as possible. * * * It is our hope and
expectation that the prizes will continue to grow
continuously, both in the dollar amount and in the number of
contributors. When a challenge is eventually achieved by
one of the competitors, Peoples Prize will award the
monetary amount of the prize to the victor. * * * The entire
process is much like circulating a petition, combined with a
real and growing prize to create interest and eventually
real competition. * * * Our first prize is for the mass
production of a reliable car.
* * * * * * *
For example, our first prize states: “We the people hereby
join together to each contribute one dollar (U.S.) to this
prize to be awarded to the first company to manufacture,
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Last modified: May 25, 2011