Extract to table

The Foundation shall not participate in or intervene in any political campaign on behalf of (or in opposition to) any candidate for public office

Upon the dissolution of the Foundation, assets shall be distributed for one or more exempt purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code, or the corresponding section of any future federal tax code, or shall be distributed to the federal government, or to a state or local government, for a public purpose

Any such assets not so disposed of shall be disposed of by a court of competent jurisdiction of the county in which the principal office of the Foundation is then located, exclusively for such purposes or to such organization or organizations as said court shall determine, which are organized and operated exclusively for such purposes

The Certificate of Incorporation contains the mandatory provisions required under Section 508(e) of the Code for private foundations, including: (a) The Foundation shall distribute its income for each taxable year at such time and in such manner as not to subject the Foundation to the tax imposed by Section 4942 of the Code (failure to distribute income); (b) The Foundation shall not engage in any act of self-dealing (as defined in Section 4941(d) of the Code); (c) The Foundation shall not retain any excess business holdings (as defined in Section 4943(c) of the Code); (d) The Foundation shall not make any investments in such manner as to subject the Foundation to the tax imposed by Section 4944 of the Code (jeopardizing investments); and (e) The Foundation shall not make any taxable expenditures (as defined in Section 4945(d) of the Code)

Any director who has a conflict of interest with respect to a matter before the Board is required to disclose the conflict and to recuse himself or herself from all discussion and voting on the matter