What HFGR Will Not Do

This foundation shall not engage in activities which are not either charitable or educational in purpose, nor shall it engage in any activities consisting of attempts to influence legislation. No part of the net earnings of the corporation shall inure to the benefit of any member, officer, trustee or any private individual, except that reasonable compensation may be paid for services rendered to or for the corporation affecting one or more of its purposes; nor shall any member, officer, trustee or any private individual be entitled to share in the distribution of any of the corporate assets on dissolution of the corporation.

Further, the foundation shall not retain any excess business holdings as defined in Section 4943(c) of the Internal Revenue Code or corresponding provisions of subsequent Federal tax laws.

Further, the foundation shall not make any investments in any such matters subject to tax under Section 4944 of the Internal Revenue Code of 1954, or corresponding provisions of any subsequent Federal tax laws.

Further, the foundation shall not make any taxable expenditures as defined in Section 4945(d) of the Internal Revenue Code of 1954, or corresponding provisions of any subsequent Federal tax laws.

Notwithstanding any other provisions, the foundation shall not conduct or carry on any activities not permitted to be conducted or carried on by any organization exempt under Section 501 of the Internal Revenue Code, including its regulations as they now exist or may hereafter be amended. Nor shall this foundation make contributions to any organization which does not qualify under the provisions of Section 501 of the Internal Revenue Code, and its regulations as they now exist or may hereafter be amended.