OUR SAVIOR'S LUTHERAN CHURCH FOUNDATION

OUR SAVIOR'S LUTHERAN CHURCH FOUNDATION THE PURPOSE OF THE OSLC FOUNDATION SHALL BE: TO SOLICIT AND RECEIVE GIFTS, BEQUESTS AND DEVISES IN THE FORM OF EITHER REAL OR PERSONAL PROPERTY, AND TO HOLD THE PRINCIPAL THEREOF EITHER IN PERPETUITY OR FOR SUCH LIMITED DURATION OF TIME AS MIGHT BE DESIGNATED OR STIPULATED BY THE DONOR OR DONORS, OR BY THE MEMBERS OF THIS FOUNDATION; TO EXPEND THE INCOME EARNED, AND THE PRINCIPAL AS DIRECTED, FOR EDUCATION, CHARITABLE AND RELIGIOUS PURPOSES AS MAY BE APPROVED BY THE BOARD OF DIRECTORS OR THE MEMBERS OF THE FOUNDATION; AND TO HOLD, INVEST, ADMINISTER AND DISTRIBUTE THE MONIES, SECURITIES OR OTHER ASSETS OF THE FOUNDATION IN THE MANNER AND FORM AS PROVIDED BY THE DONOR, IN ACCORDANCE WITH SOUND JUDGMENT AND DISCRETION OF THE MEMBERS OF THE FOUNDATION OR OF THE BOARD OF DIRECTORS. THE FOUNDATION SHALL HAVE AND EXERCISE ALL POWERS AND AUTHORITY GRANTED BY LAW, AND MAY ENGAGE IN ANY LAWFUL ACTIVITY WITHIN THE PURPOSES FOR WHICH NON PROFIT CORPORATIONS MAY BE ORGANIZED UNDER SD LAW.