Bylaws

Articles

ARTICLE 10
: INTERNAL REVENUE CODE 501(c) (3) TAX EXEMPTION PROVISIONS

10.1 Limitations on activities

No substantial part of the activities of this corporation shall be the carrying on of propaganda, or otherwise attempting to influence legislation, and this corporation shall not participate in, or intervene in (including the publishing or distribution of statements), any political campaign on behalf of, or in opposition to, any candidate or public office.

Notwithstanding any other provisions of these Bylaws, this corporation shall not carry on any activities not permitted to be carried on (a) by a corporation exempt from federal income tax under Section 501(c) (3) of the Internal Revenue Code, or (b) by a corporation, contributions to which are deductible under Section 170 (c) (2) of the Internal Revenue Code.

10.2 Prohibition against private inurnment

No part of the net earnings of this corporation shall inure to the benefit of, or be distributable to, its members, trustees, officers, or other private persons, except that the corporation shall be authorized and empowered to pay reasonable compensation for services rendered and to make payments and distributions in furtherance of the purposes of this corporation.

10.3 Distribution of assets

Upon the dissolution of this corporation, its assets remaining after payment, or provision for payment, of all debts and liabilities of this corporation shall be distributed for one or more exempt purposes within the meaning of Section Sl0(c) (3) of the Internal Revenue Code or shall be distributed to the federal government, or to a state or local government, for a public purpose. Such distribution shall be made in accordance with all applicable provisions of the laws of New Jersey.

10.4 Private foundation requirements and restrictions

For those periods (if any) during which the corporation is a private foundation within the meaning of Section 509 of the Internal Revenue Code:

(a) Annual Distribution of Income. The corporation will distribute its income for each taxable year at such time and in such manner as not to become subject to the tax on undistributed income imposed by Section 4942 of the Internal Revenue Code.

(b) Self—Dealing. The corporation will not engage in any act of self-dealing as defined in Section 4941(d) of the Internal Revenue Code.

(c) Excess Business Holdings. The corporation will not retain any excess business holdings as defined in Section 4943 (C) of the Internal Revenue Code.

(d) Taxable Investments. The corporation shall not make any investments in such manner as to subject it to tax under section 4944 of the Inter Revenue Code.