CAPTAINS ENDOWMENT ASSOCIATION SCHOLARSHIP FUND INC

THE ORGANIZATION WAS FORMED TO ESTABLISH A SCHOLARSHIP FUND FOR WORTHY STUDENTS; TO AID, ENCOURAGE, STIMULATE, FOSTER AND PROMOTE ARTISTIC, CULTURAL AND EDUCATIONAL ACTIVITIES THROUGH GRANTS, BEQUESTS, GIFTS OR OTHERWISE TO INDIVIDUALS, GROUPS, INSTITUTIONS AND ORGANIZATIONS; TO ACCEPT, HOLD, INVEST, REINVEST AND ADMINISTER ANY GIFTS, BEQUESTS, DEVISES, BENEFITS OF TRUSTS(BUT NOT TO ACT AS TRUSTEE OF ANY TRUST), AND PROPERTY OF ANY SORT WITHOUT LIMITATION AS TO AMOUNT OR VALUE AND TO USE, DISBURSE OR DONATE THE INCOME OR PRINCIPAL THEREOF EXCLUSIVELY FOR CHARITABLE PURPOSES; TO RAISE FUNDS AND SOLICIT DONATIONS FROM INTERESTED INDIVIDUALS, CHARITABLE, EDUCATIONAL AND SCIENTIFIC ORGANIZATIONS AND FOUNDATIONS, AND OTHER INTERESTED ORGANIZATIONS AND FOUNDATIONS, AGENCIES, INSTITUTIONS, ASSOCIATIONS AND CORPORATIONS AND TO ADMINISTER AND EXPEND SUCH FUNDS IN FURTHERANCE OF THE CORPORATE GOALS AND PURPOSES; TO RECEIVE, ESTABLISH AND MAINTAIN A FUND OR FUNDS OR REAL OR PERSONAL PROPERTY, OR