Hand Papermaking Inc.

Part I to XII

“| PartandLinenumber:,Explanation:| Part V Line 4,THE HAND PAPERMAKING EDNOWMENT WAS FIRST ESTABLISHED IN 2006 AND ACCEPTED ANY SIZE DONATION. IN 2021 HAND PAPERMAKING RECEIVED BY REQUEST A LARGE INITIAL DONATION FROM THE BECK WHITEHEAD ESTATE AND UPON RECEIVING A FINAL PAYOUT FROM THAT ESTATE IN 2023 ALL WHITEHEAD FUNDS WERE MOVED INTO THE HAND PAPERMAKING ENDOWMENT AS A SINGLE ENDOWMENT CONTRIBUTION. HAND PAPERMAKING ALSO HIRED IN 2023 THE BALLAST ADVISORS TO MANAGER THE FUNDS AND PROVIDE QUARTERLY REPORTS TRACKING ENDOWMENT ACTIVITY TO THE ORGANIZATIONS BOARD OF DIRECTORS. THE PRIMARY INVESTMENT OBJECT OF THE HAND PAPERMAKING ENDOWMENT IS TO PRODUCE A RATE OF RETURN WHICH WILL PERMIT MAXIMUM SUPPORT FOR THE GENERAL FUND IN A MANNER THAT IS CONSISTENT WITH THE FOLLOWNG: PRUDENT MANAGEMENT OF INVESTMENTS PRESERVATION OF PRINCIPAL AND SOCIALLY RESPONSIBLE INVESTMENT PRACTICES. THE HAND PAPERMAKING ENDOWMENT IS TECHNICALLY A "QUASI-ENDOWMENT" SINCE IT WAS ESTABLISHED AS A RESTRICTED FUND BY THE BOARD OF DIRECTORS| Part V Line 4,CONTINUED: WHO COULD UN-RESTRICT THE FUND AT ANY TIME. FUND EARNINGS ARE UNRESTRICTED AND MAY BE TRANSFERRED ANNUALLY TO THE GENERAL FUND. AS A GENERAL RULE OF PRUDENCE AN AMOUNT NO GREATER THAN 10% OF THE TOTAL MARKET VALUE OF THE ENDOWMENT SHOULD BE DISTRIBUTED IN A GIVEN CALENDAR YEAR. ASSETS OF THE HAND PAPERMAKING ENDOWMENT MAY BE INVESTED IN EQUITY SECURITIES COMMON STOCKS PREFERRED STOCKS AND CONVERTIBLE SECURITIES FIXED-INCOME SECURITIES DEBT INSTRUMENTS AND SHORT-TERM INVESTMENTS CASH EQUIVALENTS OR MUTUAL FUNDS COMPRISED OF THESE SECURITY TYPES. NO OTHER SECURITIES ARE PERMISSBILE INVESTMENTS WITHOUT THE SPECIFIC APPROVAL OF THE BOARD OF DIRECTORS. THE FINANCE COMMITTEE WILL DETERMINE APPROPRIATE BENCHMARKS TO MEASURE SUCCESS OF THE CURRENT INVESTMENT STRATEGY REPORTING RESULTS TO THE FULL BOARD ANNUALLY.|”