MICHIGAN SHORES CLUB FOUNDATION

THE MISSION OF THE ORGANIZATION IS TO PROVIDE QUALIFIED SCHOLARSHIPS TO INDIVIDUALS PURSUING DEGREES AT EDUCATIONAL ORGANIZATIONS DESCRIBED IN IRC SECTION 170(B)(1)(A)(II). IN ADDITION TO THE FOREGOING, THE FOUNDATION SHALL HAVE THE AUTHORITY TO MAKE PAYMENTS AND EXPENSE REIMBURSEMENTS THAT CONSTITUTE QUALIFIED DISASTER RELIEF PAYMENTS AS THAT TERM IS DEFINED UNDER SECTION 139 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.