STATEMENT OF PURPOSE OF THE WALTER A. and CHARLOTTE SOULE FOUNDATION
A Supporting Organization
Walter A. Soule founded a family legacy. Walter was a charitable-minded businessman who gave of himself and his money to various charitable causes. The supporting organization has listed a number of charities, which it intends to support over the years. Several members of the Soule Family have personal involvement with afflictions that they would like to assist. As a result of this desire to share some of this wealth to benefit their fellow man, the supporting organization was formed.
The Walter A. and Charlotte Soule Family foundation is organized exclusively to nurture and sustain family unity and the charitable purposes that the charitable legacy of Walter and Charlotte Soule has encouraged and supported. The focus will be in communities where family members live, giving support to health and human services, medical research, animal welfare, education and the arts.
The organization is governed by a board of directors, the majority of whom are non-disqualified persons. It is anticipated that the supported organizations, on a rotating basis, will nominate individuals to serve on the board of directors. Family members function as members of the organization. While the members have no voice in governing the organization, they will take an active role in soliciting grants, investigating grants, making recommendations to the board on potential charitable contributions, and taking follow-up actions to assure the funds contributed are used for the purposes indicated. The family hopes that by family involvement in the organization, it will induce family members to continue their philanthropic endeavors and to get future family members involved in charitable causes.
It is expected that the organization will contribute on an annual basis at least five percent (5%) of its net assets value. It is further anticipated that the organization will continue to grow through additional contributions from family members. The primary purpose will be able to make an impact on those organizations it has agreed to support.
It is not anticipated that each supported organization will receive a grant each and every year, but rather that the Foundation will seek out from the supported organization, those organizations that have a current program that the Foundation deems worthy of support. The Foundation will be involved in seeking applications for grants, investigating the grants, and having an opportunity to learn through involvement the specific programs that the supported organizations are planning and how best those dollars that the Foundation has available to make grants, can be utilized in a way to help a segment of society consistent with the family philosophy.