NEW JERSEY CLUB FOUNDATION C/O CARE OF BAY HEAD YACHT CLUB

SEE SCHEDULE O.NEW JERSEY CLUB FOUNDATION, INC. (THE "FOUNDATION") WAS INCORPORATED ON AUGUST 2, 1996 AS A NOT FOR-PROFIT ORGANIZATION. THE FOUNDATION WAS FORMED FOR THE FOLLOWING PURPOSES: TO SUPPORT EDUCATIONAL PROGRAMS FOR CLUB MANAGERS AND ASSISTANT MANAGERS TO FURTHER THE CLUB MANAGEMENT PROFESSION;TO PROVIDE FINANCIAL ASSISTANCE TO INDIVIDUALS FROM THE PUBLIC SECTOR, INCLUDING MINORITIES, INTERESTED IN THE CLUB AND HOSPITALITY FIELDS AND IN DOING SO, CREATE A GREATER PUBLIC AWARENESS OF PROFESSIONAL OPPORTUNITIES; TO PROMOTE THE CLUB MANAGEMENT PROFESSION THROUGH ACADEMIC PROGRAMS OFFERED BY COMMUNITY COLLEGES, CULINARY SCHOOLS AND UNIVERSITIES BOTH IN NEW JERSEY AND OTHER STATES; TO COOPERATE IN THE DISSEMINATION OF PROFESSIONAL INFORMATION TO ALLIED ASSOCIATIONS, ACADEMIC INSTITUTIONS AND OTHER GROUPS INVOLVED WITH THE HOSPITALITY FIELD.