Distributions from Unrestricted Endowment Funds of the Corporation Bylaws

Anything in these bylaws to the contrary notwithstanding, the following principles shall govern all distributions from unrestricted endowment funds of the corporation:

(a) Charitable needs for which such distributions may be made shall include the following: (i) improvement of public education at all levels; (ii) human services, including an emphasis on children, families, and the aged; (iii) environmental initiatives; (iv) medical and hospice care; and (v) economic development and revitalization.

(b) Such distributions shall not include the following: (i) loans or loan guarantees; (ii) grants or scholarships to individuals; (iii) distributions for political, campaign, or propaganda purposes; or (iv) distributions for religious purposes.

(c) Challenge or matching grants shall be encouraged.

(d) Distributions may be made to support charitable operations, to pay for operational expenses, and/or to support capital improvements and pay capital expenses.