BAY POINT SCHOOLS PROPERTIES INC

BAY POINT SCHOOLS PROPERTIES INC THE ORGANIZATION HAS BEEN FORMED TO HOLD TITLE TO A PARCEL OF REAL PROPERTY LOCATED IN DADE COUNTY, FLORIDA (THE "PROPERTY"). THE PROPERTY HAS BEEN LEASED, ON A LONG TERM NOMINAL FEE BASIS (1.00 PER YEAR), TO AN ORGANIZATION WHICH IS A PUBLIC CHARITY AND IS EXEMPT FROM TAXATION UNDER CODE SECTION 501(C)(3). THE PROPERTY IS REQUIRED TO BE USED EXCLUSIVELY FOR CHARITABLE PURPOSES. THE SOLE MEMBER OF THE ORGANIZATION IS THE ETHEL AND W. GEORGE KENNEDY FAMILY FOUNDATION, INC. WHICH IS A QUALIFIED 501(C)(3) ORGANIZATION AND WHICH WAS THE SOLE PROVIDER OF THE FUNDS NECESSARY TO PURCHASE AND MAINTAIN THE REAL ESTATE PROPERTY INCLUDING SALARY PAID TO ONE OF ITS OFFICERS DURING THE YEAR. THE ORGANIZATION IS FILING A FINAL RETURN DUE TO THE SALE OF THE REAL ESTATE PROPERTY ON 4/29/16. THE ORGANIZATION CEASED OPERATIONS IN MAY 2016.