SIMS STRONG FOUNDATION

THE PURPOSE OF THE SIMS STRONG ASSOCIATION IS TO RECEIVE AND MAINTAIN FUNDS OF REAL OR PERSONAL PROPERTY SUBJECT TO THE RESTRICTIONS AND LIMITATIONS HEREAFTER DESCRIBED. TO USE AND APPLY IN WHOLE OR PART THE INCOME FROM THE PRINCIPAL EXCLUSIVELY FOR CHARITABLE PURPOSES. THIS INCLUDES MAKING DISTRIBUTIONS TO ORGANIZATIONS THAT QUALIFY AS EXEMPT ORGANIZATIONS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND ITS REGULATIONS. SPECIFICALLY, THE ASSOCIATION WILL SUPPORT MANY CAUSES, FROM PROVIDING FINANCIAL AID TO THOSE IN NEED TO SUPPORTING AND SPREADING AWARENESS THROUGHOUT THE COMMUNITY. ALL DISBURSEMENTS SHALL BE AT THE DISCRETION OF THE FUNDS DISBURSEMENT COMMITTEE, WITH EACH BENEFIT AND DISBURSEMENT THE SIMS STRONG ASSOCIATION WILL HOLD OUT FUNDS TO RECOUP THE AMOUNTS THAT THE ORGANIZATION SPENT ON THE BENEFIT AND WILL HOLD OUT UP TO 15% FOR THE FOLLOWING YEAR OPERATION.