THE COMMUNITY YMCA FOUNDATION INC

THE FOUNDATION WILL DEVELOP, MAINTAIN AND MANAGE THE ENDOWMENT FUNDS OF THE YMCA OF GREATER MONMOUTH COUNTY, INC. AND WILL ENCOURAGE DONATIONS AND PLANNED GIFTS. THE FOUNDATION WILL USE AND APPLY ITS ASSETS FOR THE USE AND BENEFIT OF THE YMCA OF GREATER MONMOUTH COUNTY, INC., SO LONG AS THAT ORGANIZATION QUALIFIES AS AN EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AS AMENDED, OR CORRESPONDING PROVISIONS OF ANY FUTURE UNITED STATES INTERNAL REVENUE LAW.