3 Foundation Article III
The Foundation is organized upon a non-stock basis and all of the rights, duties, and responsibilities of the Foundation shall be vested in its Board of Directors in accordance with Section 305 of Act 162, Public Acts of 1982.
The assets which the Foundation possesses are: Real Property - None
Personal Property- $1,400,192.00 (comprised of cash and investment assets; the valuation of the above assets was their book value as of June 30, 1995).
The Foundation is to be financed by contributions from the general public.