GREATER OELWEIN AREA CHARITABLE FOUNDATION INC

CHARITABLE AND EDUCATIONAL PURPOSES - (1) TO RAISE MONEY FOR THE CONSTRUCTION AND OPERATION OF A COMMUNITY ARTS/PERFORMANCE CENTER AND A RECREATION/WELLNESS CENTER. TO BE OPERATED BY A 28E COMMITTEE COMPOSED OF THE CITY OF OELWEIN & THE OELWEIN COMMUNITY SCHOOL DISTRICT. WILL BENEFIT OVER 10,000 RESIDENTS OF THE SURROUNDING AREA.(2) TO RAISE MONEY AND CONSTRUCT A REGIONAL ACADEMY FOR MATH AND SCIENCE TO BE OPERATED BY A 28E AGREEMENT COMPOSED OF THE FOUNDATION, THE OELWEIN COMMUNITY SCHOOL DISTRICT AND NORTHEAST IOWA COMMUNITY COLLEGE.THE FOUNDATION LEASES THE ACADEMY TO THE NORTHEAST IOWA COMMUNITY COLLEGE WITH THE PROCEEDS GOING TO PAY THE DEBT SERVICE OWED TO THE USDA-RD.3) MISCELLANEOUS CONTRIBUTIONS ARE RECEIVED TO SUPPORT WELLNESS SCHOLARSHIPS, AND OTHER CHARITABLE AND EDUCATIONAL PROJECTS.