Saddleback Mountain Foundation

“The organization entirely replaced its original Exhibit A with the following: The Corporation is organized exclusively for charitable, scientific, and educational purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code and the Corporation shall not carry on activities not permitted to be carried on by an organization exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code or corresponding provisions of subsequent tax laws. Without limiting the generality of the foregoing, the purposes of the Corporation shall include: (1) conserving and protecting Saddleback Mountain in Sandy River Plantation, Franklin County, Maine, an otherwise economically depressed area, through model conservation and economic development programs; (2) relieving and/or protecting against further community deterioration that the Sandy River Plantation and surrounding areas have experienced related to the closure of Saddleback Mountain; (3) investing, lending, donating, granting, participating in, or otherwise contributing to partnerships, joint ventures, corporations, other business entities, nonprofits, governments, or quasi-governmental organizations to facilitate the re-opening, and thereafter the continued operation of, Saddleback Mountain; and (4) developing and/or otherwise contributing to ski programs primarily for the advancement of participation in the sport by youth and/or low to moderate income individuals. In furtherance hereof, but not by way of limitation, the Corporation shall be permitted to do everything necessary, proper, advisible, or convenient for the accomplishment of the foregoing purposes, and to do all things incidental to them, or connected to them, that are not forbidden by laws, the articles of Incorporation, or the Bylaws of the Corporation; provided, however, that the Corporation shall not engage in any transaction, or do or permit any action or omission, which shall operate to deprive it of its tax exempt status as a Corporation described in Section 501(c)(3) of the Internal Revenue Code. Upon dissolution of the Corporation, assets shall be distributed for one or more exempt purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code, or corresponding section of any future federal tax code, or shall be distributed to the federal government, or a state or local government, for a public purpose.”

“After the Executive Director reviews the Form 990, it is sent in PDF format to all the members of the Board of Directors prior to sending to the IRS.”

“The direct or indirect interest of the director in the proposed contract, transaction, or act shall first be disclosed to and approved by the Board, any director directly or indirectly interested in the contract, transaction, or act shall refrain from participating in the selection, awarding, or administering of their own contract, and no contract, transaction, or act shall be entered into or taken on behald of the Corporation if such contract, transaction, or act would jeopardize the Corporation's tax exempt status under Section 501(c)(3) of the Code.”

“Available upon request.”