Sico Co. v. United States

LITTLETON, Judge.

The plaintiff was incorporated as a non-stock charitable corporation under the laws of Delaware (finding 5), its objects and purposes being stated in its charter in words precluding the use of any of its net income for other than charitable purposes. 1 The corporate charter granted it certain powers to gain income for charitable purposes, including the power of carrying on business. The corporation entered into business, as shown in the findings, in order to gain profit for the accomplishment of its charitable purposes, namely, the promotion of public education by the…