Collegiate Housing Foundation

(a)the organization is organized exclusively for charitable, religious, and educational purposes within the meaning of section 501(c)(3) of the u.s. Internal revenue code of 1986 (the code) including for such purposes:(1)assisting each of its members to provide housing for its enrolled students; and(2)otherwise assisting each of its members to further their educational missions.(b)the organization is empowered to do and perform such acts as may be necessary or appropriate in carrying out the foregoing purposes of the organization and in connection therewith to exercise any of the powers granted to nonprofit corporations by the alabama nonprofit corporation act which are consistent with the organization's status as an organization (i) exempt from federal income tax under section 501(a) and 501(c)(3) of the code and (ii) to which contributions are deductible under section 170(c)(2) of the code.