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ST. GEORGE EPISCOPAL DAY SCHOOL PERMANENT ENDOWMENT FUND IS ORGANIZED EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, AND CARRY OUT THE PURPOSES OF SAINT GEORGE EPISCOPAL DAY SCHOOL, INC. (SGES), A SCHOOL DESCRIBED IN SECTION 170(B)(1)(A)(II) OF THE INTERNAL REVENUE CODE. THE ENDOWMENT SHALL CARRY OUT ITS SPECIFIC PURPOSES BY RECEIVING AND HOLDING CONTRIBUTIONS, ENDOWMENTS, GIFTS, DONATIONS, AND GRATUITIES FROM THE GENERAL PUBLIC FOR THE SUPPORT OF SGES, AND BY PAYING OVER INCOME FROM AND PRINCIPAL OF SUCH AMOUNTS TO OR FOR THE BENEFIT OF SGES FROM TIME TO TIME AS THE BOARD OF DIRECTORS OF THE ENDOWMENT SHALL DETERMINE.
ST. GEORGE EPISCOPAL DAY SCHOOL PERMANENT ENDOWMENT FUND IS ORGANIZED EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, AND CARRY OUT THE PURPOSES OF SAINT GEORGE EPISCOPAL DAY SCHOOL, INC. (SGES), A SCHOOL DESCRIBED IN SECTION 170(B)(1)(A)(II) OF THE INTERNAL REVENUE CODE. THE ENDOWMENT SHALL CARRY OUT ITS SPECIFIC PURPOSES BY RECEIVING AND HOLDING CONTRIBUTIONS, ENDOWMENTS, GIFTS, DONATIONS, AND GRATUITIES FROM THE GENERAL PUBLIC FOR THE SUPPORT OF SGES, AND BY PAYING OVER INCOME FROM AND PRINCIPAL OF SUCH AMOUNTS TO OR FOR THE BENEFIT OF SGES FROM TIME TO TIME AS THE BOARD OF DIRECTORS OF THE ENDOWMENT SHALL DETERMINE.
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