Organization: CRASS FOUNDATION INC
Mission: THE CORPORATION SHALL BE ORGANIZED AND OPERATED EXCLUSIVELY FOR CHARITABLEAND EDUCATIONAL PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THEINTERNAL REVENUE CODE OF 1986, AS NOW ENACTED OR HEREAFTER AMENDED. ALL FUNDS, WHETHER ACQUIRED BY GIFT, CONTRIBUTION, OR OTHERWISE, SHALL BEDEVOTED TO SAID PURPOSE.
Activities: CRASS FOUNDATION INC ANTICIPATES TWO DISTINCT STAGES OF OPERATIONS. THE FIRST STAGE IS THE ACCUMULATION PHASE, WHERE THE ENTITY RECEIVES DONATED FUNDS AND PRIMARILY UTILIZES SUCH FUNDS TO INVEST AND GROW THE ASSETS OF THE ENTITY FOR IT TO HAVE A PERMANENT ENDOWMENT TO FUND SUPPORTING ORGANIZATIONS. DURING THIS PHASE, WHICH IS ANTICIPATED TO LAST 5 YEARS, THE ENTITY ANTICIPATES DISBURSING NO MORE THAN 5% OF ITS TOTAL ASSETS ANNUALLY TO ORGANIZATIONS THAT PERFORM CHARITABLE AND EDUCATIONAL SERVICES.
NTEE category: Philanthropy, Voluntarism & Grantmaking Foundations
Secondary category: Mutual & Membership Benefit