Fifty Vanderbilt Foundation Inc.

“1. Introduction the board of directors of the fifty vanderbilt foundation, inc. (the "charity") has established the yale club employee emergency relief fund (the "fund") in furtherance of the charity's charitable purposes. The mission of the fund is to provide financial assistance to eligible employees of the yale club of new york city ("yale club") in light of the novel coronavirus disease (covid-19) outbreak ("coronavirus disaster"), which was declared a "major disaster" under the stafford act on march 13, 2020 and is defined as a "qualified disaster" under section 139 of the internal revenue code, or any future natural or civil disaster. 2. Mission statement the charity has established the fund to provide emergency, short-term financial assistance to eligible employees of the yale club affected by the coronavirus disaster or any other future natural or civil disaster, and to provide that assistance as soon as possible to meet the variety of emergency, short-term needs of such employees as a result of the severe and immediate negative impact on the finances of such employees as a result of the coronavirus disaster or any other future nature or civil disaster. 3. Contributions the charity will accept charitable contributions to the fund from interested individuals, corporations and other organizations, including members of the yale club. The charity will not accept contributions to the fund that are earmarked for specific individuals. 4. Eligibility individuals who are employees of the yale club who have been terminated, furloughed or have had their hours substantially reduced on account of the coronavirus disaster or any other future nature or civil disaster are eligible for assistance under the fund. Specific criteria to qualify will be included on the grant application. Decisions regarding eligible employees shall be made on an objective and nondiscriminatory basis by the charity's independent selection committee. 5. Type of assistance the fund will provide financial assistance to each of the eligible employees so as to provide emergency, short-term financial assistance to meet the variety of emergency, short-term needs of such employees. The amount of such financial assistance to be provided to each of the eligible employees shall be set by the independent selection committee, with the amount of such assistance intended only to provide emergency, short-term financial assistance. The fund has limited resources and will make grants to employees only while there are sufficient funds remaining in the fund. Grants to employees will be processed in the order in which they are received and once the fund is exhausted, there will be no further grants made to employees from the fund. Therefore, even where an employee may otherwise be eligible to receive a grant from the fund, there is no guarantee that such a grant will be made and no such grant will be made when the fund is fully depleted. 6. Independent selection committee the independent selection committee shall consist of at least three members, none of whom shall be a director, officer or executive of the yale club. The members of the independent selection committee shall be appointed by the board of directors of the charity, it being understood that the members of the independent selection committee shall serve at the pleasure of the board of directors of the charity. The independent selection committee shall be responsible for further development of the program, including process, applications, assistance amounts and other details as necessary for the program.”

“The foundation does not have committees.”

“Each board member is given a copy of the form 990 for review prior to filing with the internal revenue service.”

“Annually the board fills out conflict of interest statements, all conflicts of interest are then review by the president and the full board.”

“The foundation will make its governing documents, conflict of interest policy, and financial statements available to the general public upon request.”

“The fifty vanderbilt foundation, inc. (the "foundation") was incorporated under the new york not-for-profit corporation law on april 29, 2015. The foundation was formed primarily for the purpose of restoring, maintaining and preserving the designated landmark located at 50 vanderbilt avenue, new york, ny 10017. Secondary purposes include providing scholarships for yale university students, as well as fostering awareness and appreciation for the works of james gamble rogers, renowned architect of 50 vanderbilt avenue, and works located on the yale university campus. On october 2, 2020, in furtherance of its charitable purposes, the foundation's certificate of incorporation was amended to add a provision to operate an employee relief fund ("relief fund") for the yale club of new york city (the "yale club") for the purpose of providing financial and other assistance to employees of the yale club affected by current and future disaster and hardship provided, however, that such relief fund is established and operated solely and exclusively in furtherance of charitable purposes within the meaning of section 501(c)(3) of the internal revenue code of 1986 (the "code"), as it may be amended, and meets such other requirements in order for contributions to the foundation for the relief fund to fulfill a purpose described in section 170(c)(2)(b) of the code.”

“The foundation established an employee relief fund in 2020. This fund's purpose was to award grants to furloughed employees that needed financial assistance due to the impact on the economy from covid-19.”