The United States Power Squadrons Endowment Fund Inc. is organized under Sections 509(a)(3) and 501(c)(3) of the Internal Revenue Code of 1986 (or corresponding provision of any future United States Internal Revenue Law) (the “Code”) exclusively for the support of the United States Power Squadrons, Inc., a North Carolina corporation organized under Section 501(c)(3) of the Code .
More specifically, the Fund is organized to:
A. Be the recipient, custodian and disburser of funds or other contributions received for the purposes described above.
B. Receive, and maintain, and care for the property to be used for the purposes of the Fund.
C. Conduct such other related activities as the Board of Trustees shall determine to be in the best interest of the Fund and in furtherance of its purposes.
All donations or monies received into the Endowment Fund Inc. will be held in perpetuity, the invested funds growth through dividends and interest can be used for the purposes of supporting the goals of United States Power Squadrons®.