Isabella M Weld Trust Dated 3311910

“The Isabella M. Weld Trust was modified to require that no Trustee may serve for a term of more than five years (with imposing any limit on the number of successive terms for which a Trustee may serve). Such a requirement would mean that Harvard, as the Trust's supported organization, would have the power to regularly affect the composition of the Trust's Board of Trustees in the manner contemplated by Treasury Regulation Section 1.509(a)-4(g)(1)(i). In addition, the Trust was modified to include certain standard provisions that, under the Internal Revenue Code and the Treasury Regulations thereunder, must generally be included in the governing instruments of charitable organizations but were not required or included in the trust instrument when it was originally signed in 1910. The requirement to include these provisions was historically satisfied by Chapter 68A of the Massachusetts General Laws, but in the interest of good order and for avoidance of doubt, the Trustee preferred to include the necessary provisions expressly. These added provisions are as follows: -No part of the net earnings of this Trust shall inure to the benefit of any private individual. No substantial part of the activities of the Trust shall be the carrying on of propaganda, or otherwise attempting, to influence legislation. No part of the activities of the Trust shall be the participation in, or intervention in (including the publishing or distribution of statements), any political campaign on behalf of any candidate for public office. -If and for so long as this Trust is a private foundation (as that term is defined in Section 509 of the Internal Revenue Code), the Trustees can and shall make distributions from the Trust for each taxable year at such time and in such manner as not to subject the Trust to the tax imposed by Section 4942 of the Internal Revenue Code. -If and for so long as this Trust is a private foundation (as that term is defined in Section 509 of the Internal Revenue Code), the Trustees shall not engage in any act of self-dealing as defined in Section 4941(d) of the Internal Revenue Code; nor retain any excess business holdings as defined in Section 4943(c) of the Internal Revenue Code; nor make any investments in such manner as to incur tax liability under Section 4944 of the Internal Revenue Code; nor make any taxable expenditures as defined in Section 4945(d) of the Internal Revenue Code. -All references in this instrument to Sections of the Internal Revenue Code are to the provisions of the Internal Revenue Code of 1986, as amended, and corresponding provisions of any subsequent federal tax law.”

“In the event of a vacancy, or vacancies, in the Board of Trustees, the Trustees in office must obtain written approval by the supported organization, President and Fellows of Harvard College, to fill such vacancy or vacancies as may be necessary to constitute a board of five trustees.”

“A trustee of the Isabella M. Weld Trust Dated 3/31/1910 receives a copy of the required tax return filings to review and approve before they are signed and subsequently filed with the appropriate tax authorities. Copies are also provided to all of the other Trustees for their comments before filing.”

“Upon request.”

“The Isabella M. Weld Trust is a non-exempt charitable trust, subject to the provisions of IRC 4947(a)(1). As such, the Trust must file Form 990 or 990-PF in accordance with Code Section 6033(d). Additionally, the Trust must file Form 1041 under Section 6012 to the extent it has any taxable income. However, the Trust qualifies for the permanent set aside deduction pursuant to Section 642(c) and therefore has no taxable income for the current tax period and thus not required to file Form 1041.”