THE JOHANNA A FAVROT FUND IS A 501(C)(3) FOUNDATION ESTABLISHED FOR CHARITABLE PURPOSES AS DETERMINED IN ACCORDANCE WITH THE ANNUAL MANDATORY DISTRIBUTION REQUIREMENT AS PROVIDED BY SECTION 4942 OF THE INTERNAL REVENUE CODE. FUNDS GRANTED WILL BE EXPENDED ONLY FOR CHARITABLE, SCIENTIFIC, LITERARY, OR EDUCATIONAL PURPOSES AS DEFINED UNDER IRC 501(C)(3) OF THE INTERNAL REVENUE CODE.