Preservation Fund - Board of Directors Manual

PRESERVATION FUND THE

BOARD OF DIRECTORS

MANUAL

PRESERVATION FUND THE

April 2023-April 2025

© Copyright, The Preservation Fund Not for publication or reproduction

Created by Ponchitta Pierce

Edited by Karen Snider

Designed

by Cavedweller

Studio

On the cover: The devastation of climate change in Haiti; shortage of drinking water; diminishing food supply; acute medical needs.

Cover photos: courtesy of ServeHAITI; Shutterstock, addkm; iStockphoto.com; Borgogniels

An Enduring Love

By Ponchitta Pierce

Top: Sylvan Terrace; Inset: Morris Jumel Mansion

Sylvan Terrace led up to Morris Jumel Mansion, the oldest house in New York City and where General George Washington once stayed. At a later time people living on Sylvan Terrace worked for people in the Mansion.

Janie Belle Lundy was a lifelong friend of my mother, Nora Vincent Pierce. During my sophomore year at the University of Southern California, I was selected to attend a special international program at Cambridge University in England. I was to depart from New York City and my mother – basically terrified of what might happen to her young daughter in the big city – prevailed on her friend to let me stay with her so she could keep an eye on me.

It was the best thing that happened because it introduced me to the wonderful people of Harlem, Washington Heights, and Upper Manhattan, which were more than names. They were

home to men and women, with their families, hard working with a sense of community and pride. Janie Belle became like a second mom to me. When I moved to New York City at the start of my career with Ebony Magazine, I was often at her house at 1 Sylvan Terrace, even bringing my cocker spaniel puppy Sona to give her lots of licks and kisses.

For a long time, she suffered from severe arthritis and toward the end of her life, she was confined to the bottom floor of what was a three-story house. I can still see her, sitting in the kitchen, by the antique stove, boiling water, saying, “Come, let’s have some tea.” I remember, as we talked, she often told me, “Whenever and wherever you can, do good.” For her it was a guiding principle.

1 Sylvan Terrace is located on a unique cobbled street dating from the 1880s. Everyone who visits Sylvan Terrace remembers the 20 wooden row houses with coach lights leading to the famed Morris Jumel Mansion (www.morrisjumel.org) a unique historic house and once George Washington’s Revolutionary War headquarters. You can close your eyes and realize what it must have been like so long ago. Janie Belle had many loving neighbors on the block and even when she became less mobile, I knew they would be there to make sure she was all right.

But as time passed, I worried about Janie Belle being alone at night. Then one day I saw a story in the papers about an order of priests, The Franciscan Friars of the Renewal, who served the poor and those in need, through soup kitchens, homeless shelters, and youth groups in the Bronx, New York City. I gathered my courage, called them, and asked to speak to the Friar in charge; I wondered if one of their postulates might live at my godmother’s home, at night, so there would be someone in the house with her. They understood my concern and agreed to help. She charmed them. I will never forget the first day they came, all five of them, dressed in their long gray religious habit with a hood, a cord hanging around their waist, rosaries, and sandals, along with their beards. All I could think of to say was, “Hi, come on in.”

Just two weeks after everything was in place, my second mom died, from natural cause. I was devastated and thought she would be with me much longer. Then her lawyer called me shortly after and said she had left her home to me. I never expected it. But I just knew it made sense to use the value of the house to establish a foundation. It was called The Preservation Fund because 1 Sylvan Terrace is located in a Landmark Preservation Area. I also wanted to be associated with the Franciscan Friars of the Renewal. I have always admired their work, sense of purpose and dedication, and continue to do so. That was 1992 and the beginning of a partnership that has remained through the years.

So often, I thank my godmother for everything she did for me and, I am sure, little did she dream that her goodness and generosity, would achieve so much.

Top: Janie Belle Lundy.

Middle: “Aunt Rosa,” as she was called, who was Janie Belle’s mom

Bottom: Janie Belle Lundy when she was quite young. After Aunt Rosa’s husband died, she and Janie Belle lived at 1 Sylvan Terrace, two strong loving AfricanAmerican women who had such faith in themselves and God. They took me under their wing, instilling in me a balanced sense of achievement and humility.

Franciscan Friars of the Renewal

From the beginning, the Franciscan Friars of the Renewal have impressed The Preservation Fund with their “hands on” work with the poor, an example of Pope Francis’ call to help others and his emphasis on social justice.

The Friars’ dress is a distinctive, easily recognizable gray religious habit with a hood, a cord and sandals. Beards are also characteristic. The rope, worn as a belt around the waist, symbolizes their being girded with Christ. It is tied in three characteristic Franciscan knots which signify the important and lasting vows of poverty, chastity and obedience. They are taken when Friars become final members of the community.

Today the Friars of the Renewal now include 138 religious brothers, serving at nine Friaries in the United States, four in Europe, and two in Central America. A prayer they often say is, “Do not be conformed to this world, but be transformed by the renewal of your minds.”

Members of the Franciscan Friars of the Renewal community continue to live at 1 Sylvan Terrace as provided by The Preservation Fund. They profess

Photos courtesy of: Franciscan Friars of the Renewal

Members of the Franciscan Friars of the Renewal community live at 1 Sylvan Terrace in Washington Heights, New York City as provided by The Preservation Fund.

a vow of poverty, which means they have no personal possessions or property. Indeed, they started out their mission at St. Crispin Friary in the Bronx where they met their need for food by begging and pursuing their mission on crime-infested streets among drug addicts and burned-out buildings.

For the Friars, the house is home but it is not simply a residence—it is a spiritual community focused on their work with the poor and their own personal growth and discernment. They continue to work with the homeless at St. Anthony’s Shelter in the Bronx every Wednesday and in the words of Padre Agustino Torres, CFR, a founding member of the Friars, “it is a blessing.”

Corazón Puro was also founded by the Franciscan Friars. It is an organization dedicated to forming leaders, beginning with Latino youth and young adults, to bring about a culture of life. Inspired by the life and theology of St. John Paul II, these leaders are equipped to become Christ-centered, pure of heart, joy-filled agents of change, in and out of the city, in this country and around the world.

Supporting their work qualifies as a charitable use asset for The Preservation Fund. It is also a qualifying distribution for The Fund, helping it accomplish its tax-exempt purpose including administrative expenses, assets, and grants.

Mission Statement

The Preservation Fund, as our manual shows, has made a difference in the lives of many people and organizations, especially at a time of great need. In reaching out to others the Board fulfills a founding principal once articulated by Muhammad Ali:

“Service to others is the rent you pay for your room here on earth.”

The Preservation Fund Directors and Officers

Marcus Childs Moore is a NORAM Creators & Public Figures Partnerships

Solutions Lead at Meta. He oversees a team of managers across Music, Entertainment, Sports, Lifestyle & Wellness. Previously he worked in Music Partnerships, Partner Solutions Manager at Instagram. Marcus focuses on business development by leveraging strategic partnerships between business and creatives, artists, culture bearers, and intellectual property rights holders.

Marcus Childs Moore is a professional musician as well as an attorney. He is a Marion, Alabama native who began studying violin at age eight. He received his BFA in Jazz Performance from City College of New York (2009), JD from Howard University (2012), and MA in Music Business from New York University (2016).

After working as a Law Clerk in the Executive Office in President Barack Obama’s Administration (2011–2012), Marcus conducted legal and business development for lifestyle company FLO Brands, and was an associate attorney with Mercer Law Associates. In 2015 Marcus returned to New York City where he worked for BMG Music, YouTube and Source3 before joining Instagram.

An accomplished musician, Marcus has toured with the Harlem Symphony Orchestra and Wynton Marsalis, and has worked in administration for Jazz at Lincoln Center. A professional jazz violinist since 1995, he was a member of the Harlem Symphony Orchestra for 2 years. Marcus has performed with many leading jazz artists including Ray Santos, Arturo O’Farrill, Fred Wesley, Regina Carter, and Steve Ellington.

Andrew Young, Ambassador, Congressman, Mayor, Ordained Minister. Educated in public schools of New Orleans, Andrew Young received a B.S. from Howard University, 1951; a B.D., from Hartford Theological Seminary, 1955; and was ordained by the United Church of Christ. He served as pastor in Marion, Ala., and in Thomasville and Beachton, Ga.; as an Associate Director, Department of Youth Work, National Council of Churches, 1957-1961; Executive Director, Southern Christian Leadership Conference, 1964; and as the Executive Vice President, Southern Christian Leadership Conference, 1967.

Reverand Young was elected to Congress, serving from January 3, 1973 until his resignation January 29, 1977, when he was appointed United States Ambassador to the United Nations by President Jimmy Carter, becoming the first African American to hold the position. He served in that capacity until his resignation September 23, 1979. He was elected Mayor of Atlanta, Ga. serving from January 4, 1982, to January 2, 1990. He is currently a resident of Atlanta, Ga. and President of the Andrew J. Young Foundation.

Marcus Childs Moore, Esq. Chair of the Board; Co-Chair of Nominating-Governance Committee; member of 1 Sylvan Terrace Committee; member of Grants Committee; Ex-Officio all other committees

Reverend Andrew Young, Vice-Chair and Secretary of the Board; member of Budget Committee; member of NominatingGovernance Committee; member of Grants Committee

Ponchitta Pierce, journalist, television host and producer, joined Ebony magazine as an Assistant Editor and later became New York Editor for Ebony and New York Bureau Chief for the magazine’s then-parent company, Johnson Publishing Company. Ponchitta worked at CBS News as a Special Correspondent and at WNBC-TV in New York City, where she hosted and co-produced the daily television show Today in New York. She was later a Contributing Editor for Parade and McCall’s magazine, a Roving Editor for Reader’s Digest , and a writer for other national publications. Her interviews appear in My Soul Looks Back in Wonder: Voices of the Civil Rights Experience and also in Keep Going No Matter What: The Reginald F. Lewis Legacy 20 Years Later, the story of an African American businessman who bought Beatrice Foods International Co. in a $985 million leveraged buyout. Ponchitta is also the author of Sona The Story of a Dog Who Taught Me About Love.

Ponchitta is a trustees at WNET; the Inner-City Scholarship Fund and MorrisJumel Mansion. She is a director of The HELP FUND, Inc. and the Cuban Artists Fund. Ponchitta is on the advisory board at USC Center on Public Diplomacy and a member of the Council on Foreign Relations. A graduate of the University of Southern California with a Bachelor of Arts degree in journalism, cum laude, Ponchitta also studied at Cambridge University in England.

Victor Haydel is the president of the 755 Restaurant Corporation, founded in 1995 with a portfolio of 22 Popeyes Louisiana Kitchens and 2 Krispy Kreme Doughnuts. Today there are 29 Popeyes Louisiana Kitchens.

Victor’s volunteer work includes serving as Vice-Chairman of ServeHAITI, a group of volunteers committed to working in solidarity with the people of Grand-Bois, Haiti. A community-centric approach has been developed to address issues in medical care, clean water, education, nutrition, and economic development using core values of respect, dignity and sustainability. Victor is also a board member of Chattahoochee Riverkeeper, a nonprofit organization dedicated to protecting and preserving the Chattahoochee River, its lakes and tributaries for the people, fish, and wildlife that depend on them. Victor earned his Bachelor’s in Business Administration from Howard University in Washington D.C. Favorite quote: “To thine own self be true.”

Victor Haydel, Member of Investment and Grants Committees

Ponchitta Pierce, Founder and President of the Board; Chair of Nominating- Governance Committee; Chair of 1 Sylvan Terrace Committee; Chair of Communications Committee; Co-Chair of Grants Committee; member of Budget and Investment Committees

Dr. David Slavit, MD, is an ear, nose and throat doctor treating patients in New York City and the surrounding communities. He has been in practice for more than 20 years and is affiliated with Lenox Hill Hospital. Dr. Slavit also holds certification from the American Board of Otolaryngology. Dr. Slavit attended Cornell University’s College of Engineering, graduating with distinction, and pursued his medical degree at the Mount Sinai School of Medicine. Dr. Slavit continued his medical education at the Mayo Clinic. At Mayo Clinic he received residency training in otolaryngology and completed original research in laryngology with a thesis to earn a master’s degree in biomedical sciences from Mayo Graduate School of Education.

Arpad Krizsan is a Managing Director and Co-Founder of ERG Partners, an independent financial and strategic advisory firm solely focused on the security and intelligence sectors. Between 2005 and 2008, Arpad worked at Kroll Inc., where he was VP of Strategic Planning & Development and Head of Mergers & Acquisitions. In 2008, he was a member of a management task force leading the restructuring of Marsh, a subsidiary of MMC Inc., before rejoining ERG Partners. Previously, Arpad was a Vice President at J.P. Morgan’s Investment Banking and Corporate Finance unit in London. During his final assignment at J.P. Morgan, Arpad was responsible for client coverage in the emerging markets group. Prior to that, Arpad worked at Creditanstalt Investment Bank, the Institute for East West Studies and the European Free Trade Association. Arpad has a master’s degree from Columbia University’s School of International and Public Affairs. Arpad attended secondary school and university in Austria.

Arpad Krizsan, Member of Investment and Grants Committees

Dr. David Slavit, MD, Treasurer of the Board; Executive Vice President; Chair of Budget Committee; Co-Chair of 1 Sylvan Terrace Committee; member of Investment and NominatingGovernance Committees

Directors and Officers

Billy Stewart is Director at Advent Capital Management, LLC. He has held multiple positions of increasing responsibility during his tenure.

A market professional with over 10 years of trading experience, Billy has provided value for investors in credit markets globally. A highly motivated team player with a wide range of asset class knowledge globally, he is in ongoing dialogue with equity and debt capital market teams throughout the street, as well as conversations with companies to make their balance sheets more efficient. Other key areas of focus include idea generation; finding new potential entrants to capital markets; researching investment opportunities; outright long, long/ short, capital structure arbitrage, and convertible arbitrage.

A graduate of William and Mary with a major in Economics, his interests include global affairs and diverse music genres - fueled in part by his role at the college radio station. He believes we rise by lifting others. Billy has a world view but a particular interest in opening up markets in Africa.

Rosalie Valentino is an associate attorney with Kagan Lubic Lepper Finkelstein & Gold, LLP of New York focusing her practice on litigation and mediation of commercial actions, as well as employment disputes, in state and federal court. She represents general contractors, subcontractors, suppliers, design professionals, owners and developers in all aspects of the construction process and in the prosecution or defense of construction disputes, surety bond claims, mechanic’s liens, trust fund issues and insurance-related matters.

Rosalie earned her B.A. from Fordham University and her J.D. from the New York Law School. She was admitted to the bar of New Jersey in 2006 and New York in 2007, and to the United States District Court; Southern District and Eastern Districts of New York.

Rosalie C. Valentino, Esq. Chair of Grants Committee; member of Nominating-Governance and 1 Sylvan Terrace Committees

Billy Stewart, Chair of Investment Committee; member of Communications Committee

The Preservation Fund Advisors

Since

Since

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Agencies Supported within the Foundation’s Priorities

Poverty, Homeless and Those in Need

Franciscan Friars of the Renewal Corazón Puro

DC Central Kitchen (DCCK)

Crown Heights Mutual Aid (CHMA)

Maryhurst Inc

“Saving kids’ lives. Strengthening families.”

Red Hook Initiative

“Creating change from within” Southern Center for Human Rights (SCHR)

Work of Religious Communities

Franciscan Friars of the Renewal Bris

Avrohom First Congregational Church of Marion, Alabama Response to Human Crisis /International Relations

TechSoup

“Tech power for social good”

ServeHAITI

Grand-Bois, Haiti

Medicine/Medical Research

Maryhurst Inc

“Saving kids’ lives. Strengthening families.”

“Health. Hope. Solidarity”

Agencies Supported within the Foundation’s Priorities

Encouraging Leadership and Education

Columbia University, Department of Political Science

Columbia University, School of International and Public Affairs (SIPA) Solutions Journalism Network

Middle East Research and Information Project (MERIP)

Red Hook Initiative

“Creating change from within”

Encouraging Leadership and Education

New York University, Department of Politics

Development in Third World Countries

TechSoup

“Tech power for social good”

ServeHAITI

Grand-Bois, Haiti

Artistic and Cultural Expression

Lower East Side Tenement Museum

“Health. Hope. Solidarity”

Guest Speakers

April 25, 2018

Victor Haydel

Chairman, ServeHAITI

“Responding to the Needs of Haitians”

December 5, 2018

Eugene Kolker, PhD.

Executive VP, Global Enterprise Services, and Director, Artificial Intelligence and Machine

Learning Center of Excellence for DataArt

“Artificial Intelligence — the Fourth Industrial Revolution”

Mandell Crawley

Executive Vice President

Chief Human Resources Officer

Morgan Stanley “Things That Matter”

May 8, 2019

Mae M. Ngai

Lung Family Professor of Asian

-American Studies & Professor of History

Columbia University

“Immigration”

Marilyn F. Booker

Managing Director

Head of Urban Markets Group

Morgan Stanley “Urban Markets”

December 10, 2019

David Bornstein

Author, Journalist and Co-founder of Solutions Journalism Network

“Fake News in a Political Age”

Paul D’Alessandro, J.D. CFRE

“Effective Fundraising”

May 11, 2020

Robert Y. Shapiro

Professor and former Chair of the Department of Political Science

Columbia University

“Politics in the Pandemic”

September 2, 2020

Rachel Wilson

Managing Director and Wealth Management

Cybersecurity Chief Morgan Stanley “Cybersecurity at Morgan Stanley and Around the World”

Linda Feldmann

Washington Bureau Chief

Chief White House and Political Correspondent

The Christian Science Monitor

“Election 2020”

December 2, 2020

Carla A. Harris

Managing Director

Senior Client Advisor

Morgan Stanley

“Expect To Win: l0 Proven Strategies For Thriving in the Workplace ”

Farai Chideya

Media Journalist & Political Analyst

“Election 2020 Roundup”

May 19, 2021

Michael North

Co-Founder and Managing Partner,

Asia-Pacific Group

“The Rise of China”

Arang Keshavarzian

Associate Professor of Middle Eastern and Islamic Studies, New York University

“The Challenge of Iran”

October 19, 2021

Robert Legvold

Professor Emeritus, Columbia University

“Understanding Vladimir Putin and Russia Today”

December 14, 2021

Mugambi Jouet

Assistant Law Professor at McGill University

“A Divided America”

May 18, 2022

Michael Fitzpatrick

Cellist and composer

Founder of Omnisonix

September 8, 2022

Steven Brams

NYU Professor of Political Science

“The Future of America”

December 14, 2022

Saralyn Mark, MD

Endocrinologist, Geriatrician, and Woman’s Health Specialist

“Women’s Health and Innovation”

April 4, 2023

William J McGee

Aviation Writer and Adviser

“The Future of Air Travel PostCovid”

In Appreciation, Selected Examples ServeHAITI

ServeHAlTI is an organization that has been serving the people of the rural mountain community of Gran Bwa, Haiti located not far from Port-auPrince with its Medical Clinic for over twenty years.

Twenty-three Community Health Workers go out to people’s homes via motorbike or on foot to make preliminary health observations and share information with the family and patient regarding visits to the Clinic. They also distribute and service water filtration devices, a major need, and make health observation reports on the family to the Clinic using handheld devices. Families whose children are starving are identified and enrolled in the Medika Mamba fortified nutrition program so their health rebounds. The $10,000 PRI and the additional $10,000 Grant have been used in funding these programs which directly benefit the health of people in Gran Bwa, Haiti. Thank you so much.

Robert R. Balke, Board and Executive Committee Member, ServeHAITI

Red Hook Initiative

Your contribution of $1,000 has allowed us to continue to provide comprehensive year-round programs, services and support for BIPOC black,indigenous and people of color youth ages 12-24 .We address learning loss, foster emotional health and healing while promoting high school graduation, higher education, sustainable employment and self-sufficient adulthood. Among other programs, we also grow over 20,000 pounds of produce, address food insecurity in our neighborhood and promote nutrition through Red Hook Farms, RHI’s youth-centered urban farm.

– Morgan Monaco, Executive Director, Red Hook Initiative

TechSoup

TechSoup believes that civil society organizations are the heart of communities around the world.

The Preservation Fund invested a $20,000 PRI in TechSoup’s $11.5 million growth capital campaign which successfully concluded in September 2021. The Growth Capital Campaign is intended to help TechSoup scale and transform its services by nearly doubling the number of organizations it serves globally by 2023 and by significantly increasing the annual market value of technology tools and resources it facilitates globally. The growth capital is already being deployed and is primarily invested in five strategic initiatives including the NGO Technology Marketplace, Global Validation & Data Services, Apps for Good, Cooperative Technology Platform, and Scale Processes & Systems.

TechSoup is the founding organization of the TechSoup Global Network (TSGN) which brings together 60+ partner organizations on six continents operating in 39 languages that have joined together to collaborate on supporting 1.3 million organizations on meeting the world’s most pressing needs. The partners are all united by their dedication to creating social impact through access to technology. Together, the Global Network partners serve 236 countries and territories.

— Ken Tsunoda, VP Development & Network, TechSoup

Solutions Journalism Network

I appreciated the $1,000 contribution we received from your Foundation in conjunction with the opportunity to speak with your board of directors. The most valuable thing for us was the engagement with your board members in a conversation connecting solutions journalism to social justice. It was clarifying and affirming of the need for narrative changes to support broader much needed structural reforms. Our work integrates solutions journalism and the framework developed by Trabian Shorters, “Asset-Framing ,” which is a powerful approach for reframing public discourse — underscoring that journalists focus too much on problems, deficits and challenges, and don’t give enough attention to assets, aspirations and potential solutions. Connecting solutions journalism and AssetFraming are central to our mission today to transform journalism so that all people have access to news that helps them envision and build a more equitable and sustainable world.

— David Bornstein, CEO at Solutions Journalism Network

First Congregational Church of Marion, Alabama

The First Congregational Church of Marion is a historic church in Marion, Alabama established in 1869, and built in 1871 by freed slaves and the American Missionary Association. It later became affiliated with the United Church of Christ in the l950s and added to the National Register of Historic Places in l982.

Your contribution of $1,000 to our church has sustained us in many ways, and me personally. My son Marcus C Moore and Hjordys Marie Perez Matos were married here, with Reverend Andrew Young participating. We look back and forward to our continued association with our special church. And if you ever are in Marion, we hope you will visit.

Southern Center for Human Rights (SCHR)

The Southern Center for Human Rights (SCHR) is an outstanding organization devoted to building a humane, just, equal, and effective penal system for the greater good. Its topnotch lawyers work in the Deep South by notably representing indigent prisoners in death penalty cases and lawsuits seeking to improve prison conditions in the age of mass incarceration. SCHR further strives toward reform against the criminalization of poverty, racial injustice, and counterproductive laws or policies that do not make society safer but carry great financial cost to taxpayers. I interned at SCHR in the summer of 2004 when I was in law school. This was one of the most influential experiences in my life, which I often talk about to my students now that I am a law professor. I have my students read an excerpt of an article by SCHR legend Stephen Bright, as well as an excerpt of the book Just Mercy where Bryan Stevenson describes how his career effectively began there alongside Mr. Bright. The SCHR’s mission and accomplishments can inspire students to use their legal education to give a voice to the voiceless. I am deeply thankful to you and the board for your generous $1,000 contribution!

Mugambi Jouet, on behalf of the Southern Center for Human Rights

— Mary Moore, Trustee, First Congregational Church of Marion, Alabama

Columbia University School of International and Public Affairs (SIPA)

As the world’s leading school for global public policy, the School of International and Public Affairs (SIPA) at Columbia University has the unique capacity—and, we believe, duty—to help address the world’s greatest challenges. Our mission is to support the global public interest by educating students to serve and to lead, and to produce and share new knowledge on the critical public policy challenges facing the global community.

We are grateful for The Preservation Fund’s 5-year, $ l0,000 scholarship for SIPA students. You are helping make a Columbia education possible for outstanding master’s degree candidates who otherwise couldn’t afford it. The students you are helping support today will graduate to become leaders in the public, private, and nonprofit sectors. In this way, we all benefit from. The Preservation Fund’s investment in SIPA students. Thank you!

— Hazel May, Ph.D. Senior Associate Dean, Academic Affairs, Columbia SIPA

The Franciscan Friars of the Renewal & Corazón Puro

The Community of Franciscan Friars of the Renewal was begun in 1987 by eight Capuchin friars desiring to work more definitively for personal and communal reform within the Catholic Church. In imitation of St. Francis of Assisi, we seek to follow in the footsteps of Jesus, as a prophetic witness that life is a pilgrimage to the Father, of faith, hope, and love of God and neighbor, made possible by the Holy Spirit. We participate in Christ’s renewal of all things through our prayer, fraternal life, service of the poor, and evangelization, as a complement to the work of those whose mission is to serve parochially.

Corazón Puro (CP) works in partnership with the Franciscan Friars of the Renewal. In 2018, a $10,000 PRI was granted to CP to contract a grant writer to take our organization’s fundraising efforts to the next level. This was a crucial part of our success in securing $130,000 in grants and broadened our network with other foundations. Our leadership program for Hispanic youth and young adults in the Bronx includes regional outreach events, small Christian Community gatherings, retreats and various service opportunities. The impact has been inspiring and far-reaching.

Peace,

Reverend Agustino Miguel Torres, member of the General Council of The Franciscan Friars of The Renewal

Lower East Side Tenement Museum

I am a board member of the Tenement Museum, two historic tenement buildings which were home to over 15,000 immigrants from more than 20 nations between 1863 and the turn of the 21st century. Your $500 contribution will go to our capital campaign to retrofit the building structure to withstand the traffic of tens of thousands of visitors a year. Our new exhibit will compare the lives of two families, headed by a man named “Joseph Moore,” one an Irish waiter who lived at 97 Orchard, and the other an African American waiter who lived about a half-mile away. The story of the two Moores will allow us to think about the lives of European and Black New Yorkers, as well as the general question of race relations in the 19th century.

Maryhurst Inc

Maryhurst first opened its doors in 1843 as a home for girls who’d been mistreated and cast aside. As they learned more about the needs of Kentucky’s most vulnerable kids and families, they added programs designed to prevent abuse, restore hope, and empower survivors.

Maryhurst, located in Louisville, Kentucky, is deeply grateful for your gift of $1,000 to support our work with youth and families.  The dollars you invested with us will become therapy sessions, school supports, medical services, and independent living skills training.  Your kindness will impact youth who have suffered unimaginable trauma, helping them heal and move into a future filled with possibility.  Please know that this note of thanks brings with it the gratitude of all those children and families whose names you will never know but whose lives will be forever changed by your generosity.

Gratefully,

Paula Garner, LCSW, MBA, President and CEO

Mae Ngai, Lung Family Professor of Asian American Studies and Professor of History, Columbia University; Trustee of the Tenement Museum.

“Andy’s Act” becomes a reality as President Biden signs Appropriations Bill

WASHINGTON, DC – One of Ambassador Andrew Young’s visionary projects for the future is taking a giant step forward, with President Joseph Biden’s signature on the Consolidated Appropriations Act of 2023.

“The Andrew J. Young Safeguarding the Mississippi River Together Act” – also designated simply as, “Andy’s Act.” – was approved by Congress on December 23, 2022, and signed by the President December 29, 2022. The spending bill includes $40 million for restoration efforts on the Lower Mississippi River, a cause Ambassador Young has championed through the Andrew J. Young Foundation. Even during the pandemic, the foundation helped organize the mayors of nearly 100 cities from New Orleans to Minneapolis.

Ambassador Young expressed thanks to Congressman Bennie G. Thompson (D) of Mississippi for having championed the bipartisan effort and said it is a great honor that the bill was named after him. He also thanked Senator John Nicholas Boozman (R) of Arkansas, who sponsored “Andy’s Bill” in the Senate. This bipartisan effort should make everyone feel proud that America stands for betterment of people across party lines, he said.

As a young child growing up in New Orleans, Ambassador Young watched the construction of levees meant to last no more than 70 years. He turned 90 this year and his memory is keen. He called the $40 million appropriation “seed money” for restoration projects that eventually will become self-sustaining and cost taxpayers nothing.

“Every year, at least one major city on the Mississippi River suffers devastation from flooding, and it’s only

going to get worse,” said Ambassador Young. “My vision is that you don’t wait for the flood before you clean up. You prevent the flood.”

Gaurav Kumar, president of the Andrew J. Young Foundation, said replacing outdated levees and other crumbling infrastructure will spare cities and their populations from the ravages of flooding, save millions of dollars each year in disaster relief, create thousands of new jobs, and revitalize local economies through “enterprise zones” all along the river corridor. “The Mississippi River is the backbone of water transportation in America, accounting for the distribution of 40% of grains in the country,” Kumar observed.

“The objective is to create enterprise zones in which repair projects are undertaken with private investment rather than government funds.” Ten states border the Mississippi and its tributaries reaching another 22, Ambassador Young observed.

“This will be the largest job creation program since the New Deal,” he predicted, “and it will pay for itself.”

Summary of The Preservation Fund

Contributions, 2018-2023 By Mission Area

TOTAL $422,500*

Work of Religious Communities

38.3%

• Franciscan Friars of the Renewal

• Bris Avrohom

• First Congregational Church of Marion, Alabama

4.7%

Response to Human Crisis / International Relations

• TechSoup

• ServeHAITI

4.7%

Development in Third World Countries

• TechSoup

• ServeHAITI

13%

Encouraging Leadership and Education

• Columbia University, Department of Political Science

• Columbia University, School of International and Public Affairs (SIPA)

• New York University, Department of Politics

• Solutions Journalism Network

• Middle East Research and Information Project (MERIP)

• Red Hook Initiative

Artistic and Cultural Expression

• Milenia Music .4%

• Lower East Side Tenement Museum

Medicine/Medical Research

• Maryhurst Inc

Poverty, Homeless, Those in Need

38.8%

*Includes grants, PRIs and gifts-in-kind.

Figures updated April 2023. Does not include future contributions.

• Franciscan Friars of the Renewal & Corazón Puro

• DC Central Kitchen (DCCK)

• Crown Heights Mutual Aid (CHMA)

• Maryhurst Inc

• Red Hook Iniative

• Southern Center for Human Rights (SCHR)

The Preservation Fund Expense, Grant and PRI Report, 2018-2023*

The Preservation Fund Board Profile

Amended and Restated By-Laws of The Preservation Fund

Adopted by the Board of Directors effective April 4, 2023

ARTICLE I - OFFICES

The principal office of the Corporation shall be in the City and State of New York or at such other location within or without this state as the Board of Directors of the Corporation (the “Board”) may from time to time determine or the business of the Corporation may require.

ARTICLE II - PURPOSES

This Corporation has been organized to aid the homeless and those in need; to help carry out the work of religious communities; and to respond to humanitarian crises by helping people survive and rebuild their lives. The Corporation is committed to foster development in Third World countries, especially among women and children; to encourage leadership and education; to support artistic and cultural expression; and to further medical research.

The Corporation shall solicit, receive and accept, manage and invest, transfer, lease or assign any funds, property or assets to be acquired by the Corporation whether by purchase, gift, bequest or otherwise. In the management of the Corporation’s business affairs, any money, personal or real property, shall be dealt with subject to the provisions of the Not-For-Profit Corporation Law of the State of New York as amended by the New York Non-profit Revitalization Act of 2013 (“Act”) and as otherwise hereafter amended from time to time (“NPC Law”). All income, principal, property or assets shall be used exclusively for the purposes for which the Corporation has been organized. Further, none of the assets of the Corporation shall inure to the benefit of any member of the Board or officers of the Corporation, except that reasonable compensation may be paid for services performed in furtherance of the Corporation’s purposes with the knowledge and prior approval of the Board.

The foregoing purposes shall not be deemed to authorize the Corporation to undertake or carry on any activities prohibited by the NPC Law.

ARTICLE III - MEMBERSHIP

There shall be no members of the Corporation.

ARTICLE IV – DIRECTORS

1. MANAGEMENT OF THE CORPORATION.

The business and affairs of the Corporation shall be managed by the Board, which shall have power (a) to make policy for the Corporation consistent with its purposes; (b) to make rules and regulations, both for the administrative and educational functioning of the Corporation; (c) to allocate all funds so as to further the purposes of the Corporation. The Board shall consist of not less than seven (7) nor more than eleven (11) directors. Each director shall be at least nineteen (19) years of age and shall be nominated for election by a then-current director of the Corporation.

2. ELECTION AND TERM OF DIRECTORS.

At each annual meeting of the Board, the directors shall elect directors and may elect honorary directors to hold office until the next annual meeting. Directors and honorary directors shall be elected by a vote of not less than seventy-five (75%) of the directors present at the time of the vote, if a quorum is present at such time. Each director shall hold office until the expiration of the term for which he was elected, until his or her successor has been elected or until his or her prior resignation or removal.

3. INCREASE OR DECREASE IN NUMBER OF DIRECTORS.

The number of directors and honorary directors may be increased or decreased by vote of not less than seventy-five percent (75%) of the directors present at the time of the vote, if a quorum is present at such time. No decrease in the number of directors shall shorten the term of any incumbent director unless such decrease is the result of the removal of any director or directors with cause.

4. NEWLY-CREATED DIRECTORSHIPS AND VACANCIES.

Newly-created directorships resulting from an increase in the number of directors and vacancies occurring on the Board for any reason except the removal of directors without cause may be filled by a vote of not less than seventy-five percent (75%) of the directors present at the time of the vote, if a quorum is present at such time. Vacancies occurring by reason of the removal of directors without cause shall be filled by a vote of not less than seventy-five percent (75%) of the directors present at the time of the vote, if a quorum is present at such time. A director elected to fill a vacancy caused by resignation, death or removal shall be elected to hold office for the unexpired term of his or her predecessor.

5.

REMOVAL OF DIRECTORS.

Any or all of the directors may be removed for cause by a vote of not less than seventy-five percent (75%) of the directors present at the time of the vote, if a quorum is present at such time, excluding the director sought to be removed. Directors may be removed without cause only by a unanimous vote of the directors present at the time of the vote, if a quorum is present at such time, excluding the director sought to be removed.

6. RESIGNATION.

A director may resign at any time by giving written notice to the Board, the president or the secretary of the Corporation. Unless otherwise specified in the notice, the resignation shall take effect upon receipt thereof by the Board or such officer, and acceptance of the resignation shall not be necessary to make it effective.

7. QUORUM OF DIRECTORS.

A majority of the directors who are entitled to vote shall constitute a quorum for the transaction of business or of any specified item of business. The quorum and voting provisions herein stated shall not be construed as conflicting with any provisions of the NPC Law and these By-Laws that govern a meeting of directors held to fill vacancies and newly created directorships.

8. VOTING RIGHTS OF DIRECTORS.

Unless otherwise required by law or these By-Laws, the

vote of not less than seventy-five percent (75%) of the directors present at the time of the vote, if a quorum is present at such time, shall be the act of the Board. Each director present shall have one vote. Honorary directors shall not be entitled to vote on any matters before the Board. Notwithstanding the voting requirements set forth in preceding sentence, the following actions shall be taken by a unanimous vote of the directors present at the time of the vote, if a quorum is present at such time:

(a) the sale, exchange, lease, mortgage, pledge, or other transfer of 1 Sylvan Terrace, NY, NY, which is owned by Lundy LLC, a limited liability company which is wholly-owned by the Corporation;

(b) the distribution or liquidation of all or substantially all of the assets of the Corporation; or

(c) the approval of the dissolution of the Corporation in accordance with the NPC Act.

9. PLACE AND TIME OF BOARD MEETINGS.

The Board may hold its meetings at the office of the Corporation or at such other places, either within or without the state, as it may from time to time determine, subject to the provisions of Sections 10, 11 and 12 of this Article. Any one or more members of the Board or any committee thereof may participate by means of a conference telephone, electronic video screen communication, or similar communications equipment allowing all persons participating in the meeting to hear each other at the same time. Participation by such means shall constitute presence in person at a meeting.

10. ANNUAL MEETING.

An annual meeting of the Board shall be held at such place and at such time as designated in advance by the Board, subject to the notice provisions of Section 12 of this Article.

11. REGULAR MEETINGS, SPECIAL MEETINGS.

The Board of may provide by resolution the time and place for the holding of regular meetings, other than the annual meeting, of the Board without other notice than such resolution. Special meetings of the Board may be

called (a) by the president or (b) by the president or secretary upon the written request of at least two directors. Notice of special meetings shall be given in accordance with Article 12.

12. NOTICES, WAIVERS, ADJOURNMENT. Any notice required to be provided under this Article shall in all cases be given to all directors who are entitled to vote at least three (3) days in advance of the respective meeting. Notice shall be served personally or sent to each director by mail or electronic communication such as electronic mail or facsimile. Notwithstanding the foregoing, such notice shall not be deemed to have been given electronically if (a) the Corporation is unable to deliver two consecutive notices to the person by electronic mail or facsimile; or (b) the Corporation otherwise becomes aware that notice cannot be delivered to the person by electronic mail or facsimile.

Notice of a meeting need not be given to any director who is entitled to vote who submits a written waiver of notice whether before or after the meeting or who attends the meeting without protesting prior thereto or at its commencement, the lack of notice to him or her. Any waiver of notice by a director pursuant to this Section shall be made in writing and shall be delivered to the secretary for inclusion with the records of the meeting. Waiver given by electronic communication such as electronic mail or facsimile shall be deemed to have been in writing; provided, however, waiver given by electronic mail must either (a) set forth, or be submitted with, information from which it can reasonably be determined that the transmission was authorized by the director or (b) contain a signature delivered via DocuSign (or other like method) or portable digital file (“pdf”) affixed with the director’s signature documenting such waiver.

A majority of the directors present, whether or not a quorum is present, may adjourn any meeting to another time and place. Notice of the adjournment shall be given all directors who were absent at the time of the adjournment and, unless such time and place are announced at the meeting, to the other directors.

13. ACTION

BY DIRECTORS

WITHOUT

A MEETING.

Any action which may or must be taken at a meeting of the directors may be taken without a meeting if a consent in writing, setting forth the action so taken, shall be signed by all of the directors. Consent given by electronic communication such as electronic mail or facsimile shall be deemed to have been in writing; provided, however, consent given by electronic mail must either (a) set forth, or be submitted with, information from which it can reasonably be determined that the transmission was authorized by the director or (b) contain a signature delivered via DocuSign (or other like method) pdf affixed with the director’s signature documenting such consent.

14. CHAIRPERSON.

The chairperson shall preside over all meetings of the Board. The Board may appoint any director as chairperson, provided that such director may not be an employee of the Corporation on or after any date precluding the same as set forth in the NPC Act. The chairperson shall be elected annually by a majority of all of the directors. Said election shall be held at the time of the annual meeting of the directors, or in the event of a vacancy in the post, at any duly convened meeting following the occurrence of the vacancy.

15. EXECUTIVE AND OTHER BOARD COMMITTEES.

The Board, by resolution adopted by a majority of all of the directors, may designate from among its members an executive committee and other Board committees, each consisting of two (2) or more directors. Each committee shall serve at the pleasure of the Board and shall have the powers and authority, subject to the law, as the Board shall deem proper.

16. HONORARY DIRECTORS.

Notwithstanding the foregoing, honorary directors shall be entitled to attend all meetings of the Board, but they shall have no voting rights and they shall not be counted in determining a quorum for the transaction of business.

ARTICLE V - STANDARDS OF CONDUCT

1. STANDARDS OF CONDUCT.

A director or an officer of the Corporation shall discharge his or her duties as a director or as an officer, including duties as a member of a committee: (a) in good faith; (b) with the care an ordinarily prudent person in a like position would exercise under similar circumstances; and (c) in a manner he or she reasonably believes to be in the best interest of the Corporation.

2. RELIANCE ON THIRD PARTIES.

In discharging his or her duties, a director or officer is entitled to rely on information, opinions reports, or statements, including financial statements and other financial data, if prepared or presented by: (a) one or more officers or employees of the Corporation who the director or officer reasonably believes to be reliable and competent in the matters presented; (b) legal counsel, public accountants or other persons as to matters the director or officer reasonably believes are within the person’s professional or expert competence; or (c) a committee of the Board of which the director or officer is not a member, as to matters within its jurisdiction, if the director or officer reasonably believes the committee merits confidence.

3. BAD FAITH.

A director or officer is not acting in good faith if he or she has knowledge concerning the matter in question that makes reliance otherwise permitted by Article V, Section 2 unwarranted.

4. NO

LIABILITY.

A director or officer is not liable for any action taken, or any failure to take action, as a director or officer, if he or she performs the duties of his or her office in compliance with the provisions of this Article, or if he or she is immune from suit under the Act.

ARTICLE VI - OFFICERS

1. OFFICERS, ELECTION, TERM.

The Board may elect or appoint a president, one or more vice-presidents, a secretary, and a treasurer who shall

have such duties, powers and functions as hereinafter provided. Each officer elected or appointed to hold office shall hold office for the term for which he is elected or appointed and until his successor has been elected or appointed and qualified. Officers shall be elected by vote of not less than seventy-five percent (75%) of the directors present at the time of the vote, if a quorum is present at such time. The Board may elect such additional officers or assistant officers as it may from time to time determine.

2.

REMOVAL, RESIGNATION, SALARY.

Any officer may be removed for cause by a vote of not less than seventy-five percent (75%) of the directors present at the time of the vote, if a quorum is present at such time, excluding the officer sought to be removed (if such officer is a director of the Corporation). Officers may be removed without cause only by a unanimous vote of the directors present at the time of the vote, if a quorum is present at such time, excluding the officer sought to be removed (if such officer is a director of the Corporation). In the event of the death, resignation, or removal of an officer, the Board, in its discretion, may elect or appoint a successor to fill the unexpired term. Any two (2) or more offices may be held by the same person, except the offices of president and secretary. The salaries of all officers shall be fixed by the Board, subject to any applicable restrictions set forth in the Corporation’s Conflict of Interest Policy, as may be amended from time to time.

3. PRESIDENT.

The president shall be the chief executive officer of the Corporation. The president shall have responsibility for the general management of the affairs of the Corporation and shall see that all orders and resolutions of the Board are carried into effect. The president shall also give, or cause to be given, notice of all meetings of the Board.

4. VICE-PRESIDENTS.

During the absence, disability, or inability to serve of the president, the vice-president shall have all the powers and functions of the president. Each vice-president shall perform such other duties as the Board shall prescribe.

5. TREASURER.

The treasurer or his or her designees shall (a) have the care and custody of all the funds and securities of the Corporation, and shall deposit said funds in the name of the Corporation in such bank or trust company as the directors may elect; (b) sign all checks, drafts, notes, and orders for the payment of money, which shall be duly authorized by the Board; and (c) shall at all reasonable times exhibit books and accounts to any director of the Corporation upon application at the office of the Corporation during ordinary business hours. The treasurer or his or her designees shall provide to the Board, the president and/or the chairman such financial reports as may be requested from time to time. If required by the Board, the treasurer or his or her designee shall give a bond for the faithful discharge of his or her duties in such sum and with such surety or sureties as the Board shall determine.

6. SECRETARY.

The secretary or his or her designees shall attend all sessions of the Board and of the committees and shall record all the votes and the minutes. The Secretary shall prepare, or cause to be prepared, minutes of all meetings of the Board and of the committees, and shall report to the Board at its next regular meeting or when required. He or she shall perform such other duties as may be prescribed by the Board, the committees or by the President under whose supervision he or she shall be. He or she shall keep in safe custody the corporate seal of the Corporation and, when authorized by the Board, affix the same to any instrument requiring it and, when so affixed, it shall be attested by his or her signature or by the signature of the Treasurer.

ARTICLE VII - RELATED PARTY TRANSACTIONS

1. CONFLICTS.

Notwithstanding anything in these By-Laws to the contrary, a director that is determined to be a Related Party (as defined in Section 3 of this Article) shall not be permitted to vote, or participate in any discussions prior to any vote, with respect to any Related Party Transaction (as defined in Section 4 of this Article), provided

that nothing in this Section shall prohibit the Board from requesting that a Related Party present information concerning a Related Party Transaction at a Board or committee meeting prior to the commencement of deliberations or voting related thereto.

2. PROHIBITION ON RELATED PARTY TRANSACTIONS.

Notwithstanding anything in these By-Laws to the contrary, the Board may not enter into any Related Party Transaction (as defined in Section 4 of this Article) unless the transaction is determined to be fair, reasonable, and in the Corporation’s best interest at the time of such determination, in compliance with the Corporation’s Conflict of Interest Policy, as may be amended from time to time.

3. RELATED PARTY.

A “Related Party” means any of the following with a financial interest in a transaction, agreement, or any other arrangement to which the Corporation is a party:

(a) a director, officer, trustee, member of a committee with governing board delegated powers, fiduciary or key employee of the Corporation, as defined in the Corporation’s Conflict of Interest Policy, as may be amended from time to time, or any affiliate of the Corporation, (b) a relative of any of those listed in (a); or (c) an entity in which any individual described in (a) or (b) of this subparagraph has a thirty-five percent (35%) or greater ownership or beneficial interest or, in the case of a partnership or professional corporation, a direct or indirect ownership interest in excess of five percent (5%).

4. RELATED PARTY TRANSACTION.

A Related Party Transaction means any transaction, agreement or any other arrangement (including the making of a grant or other disbursement of the assets or funds of the Corporation) in which a Related Party has a financial interest and in which the Corporation or any affiliate of the Corporation is a participant.

5. RELATIVE.

A relative of an individual means his or her (a) spouse, ancestors, brothers and sisters (whether whole or half blood), children (whether natural or adopted), grand-

children, great-grandchildren, and spouses of brothers, sisters, children, grandchildren, and great-grandchildren; or (b) domestic partner as defined in § 2994-a of the New York Public Health Law.

ARTICLE VIII – INDEMNIFICATION

1. AUTHORIZED INDEMNIFICATION.

Unless clearly prohibited by law or Section 2 of this Article VIII, the Corporation shall indemnify any person (“Indemnified Person”) made, or threatened to be made, a party in any action or proceeding, whether civil, criminal, administrative, investigative or otherwise, including any action by or in the right of the Corporation, by reason of the fact that he or she (or his or her testator or intestate), whether before or after adoption of this Section, (a) is or was a director or officer of the Corporation, or (b) in addition is serving or served, in any capacity, at the request of the Corporation, as a director or officer of any other corporation, or any partnership, joint venture, trust, employee benefit plan or other enterprise. The indemnification shall be against all judgments, fines, penalties, amounts paid in settlement (provided the Corporation shall have consented to such settlement) and reasonable expenses, including attorneys’ fees and costs of investigation, incurred by an Indemnified Person with respect to any such threatened or actual action or proceeding, and any appeal thereof.

2. PROHIBITED INDEMNIFICATION.

The Corporation shall not indemnify any person if a judgment or other final adjudication adverse to the Indemnified Person (or to the person whose actions are the basis for the action or proceeding) establishes, or the Board in good faith determines, that such person’s acts were committed in bad faith or were the result of active and deliberate dishonesty and were material to the cause of action so adjudicated or that he or she personally gained in fact a financial profit or other advantage to which he or she was not legally entitled.

3. ADVANCEMENT OF EXPENSES.

The Corporation shall, on request of any Indemnified Person who is or may be entitled to be indemnified

by the Corporation, pay or promptly reimburse the Indemnified Person’s reasonably incurred expenses in connection with a threatened or actual action or proceeding prior to its final disposition. However, no such advancement of expenses shall be made unless the Indemnified Person makes a binding, written commitment to repay the Corporation, with interest, for any amount advanced for which it is ultimately determined that he or she is not entitled to be indemnified under the law or Section 2 of this Article VIII. An Indemnified Person shall cooperate in good faith with any request by the Corporation that common legal counsel be used by the parties to such action or proceeding who are similarly situated unless it would be inappropriate to do so because of actual or potential conflicts between the interests of the parties.

4. INDEMNIFICATION OF OTHERS.

Unless clearly prohibited by law or Section 2 of this Article VIII, the Board may approve Corporation indemnification as set forth in Section 1 of this Article VIII or advancement of expenses as set forth in Section 3 of this Article VIII, to a person (or the testator or intestate of a person) who is or was employed by the Corporation or who is or was a volunteer for the Corporation, and who is made, or threatened to be made, a party in any action or proceeding, by reason of the fact of such employment or volunteer activity, including actions undertaken in connection with service at the request of the Corporation in any capacity for any other corporation, partnership, joint venture, trust employee benefit plan or other enterprise.

5. DETERMINATION OF INDEMNIFICATION.

Indemnification mandated by a final order of a court of competent jurisdiction will be paid. After termination or disposition of any actual or threatened action or proceeding against an Indemnified Person, if indemnification has not been ordered by a court the Board shall, upon written request by the Indemnified Person, determine whether and to what extent indemnification is permitted pursuant to these by-laws. Before indemnification can occur, the Board must explicitly find that such indemnification will not violate the provisions of Section 2 of this Article VIII. No director

with a personal interest in the outcome, or who is a party to such actual or threatened action or proceeding concerning which indemnification is sought, shall participate in this determination. If a quorum of disinterested directors is not obtainable, the Board shall act only after receiving the opinion in writing of independent legal counsel that indemnification is proper in the circumstances under then applicable law and these by-laws.

6. BINDING EFFECT.

Any person entitled to indemnification under these by-laws has a legally enforceable right to indemnification which cannot be abridged by amendment of these by-laws with respect to any event, action or omission occurring prior to the date of such amendment.

7. INSURANCE.

The Corporation is not required to purchase Directors’ and Officers’ liability insurance, but the Corporation may purchase such insurance if authorized and approved by the Board. To the extent permitted by law, such insurance may insure the Corporation for any obligation it incurs as a result of this Article VIII or operation of law and it may insure directly the directors, officers, employees or volunteers of the Corporation for liabilities against which they are not entitled to indemnification under this Article VIII as well as for liabilities against which they are not entitled to be indemnified by the Corporation.

8. NON-EXCLUSIVE RIGHTS.

The provisions of this Article VIII shall not limit or exclude any other rights to which any person may be entitled under law or contract. The Board is authorized to enter into agreements on behalf of the Corporation with any director, officer, employee or volunteer providing them rights to indemnification or advancement of expenses in connection with potential indemnification in addition to the provisions therefore in this Article VIII, subject in all cases to the limitations of Section 2 of this Article VIII.

ARTICLE IX - BOOKS AND RECORDS

There shall be kept at the principal office of the Corporation, correct books of accounts of all the business and transactions of the Corporation.

ARTICLE X - EXECUTION OF CONTRACTS

The Board, except as otherwise provided in these By-Laws, may prospectively or retroactively authorize any officer or officers, agent or agents, in the name and on behalf of the Corporation, and in the administration of an approved program, to enter into any contract or execute and deliver any instrument, and any such authority may be general or confined to specific instances.

ARTICLE XI - SEAL

The Board shall provide a corporate seal which shall be in the form of a circle and shall bear the full name of the Corporation and the year of its incorporation.

ARTICLE XII - FISCAL YEAR

The fiscal year of the Corporation shall be determined by resolution of the Board.

ARTICLE XIII - CONSTRUCTION

If there be any conflict between the provisions of the certificate of incorporation and these by-laws, the provisions of the certificate of incorporation shall govern.

ARTICLE XIV - AMENDMENTS

The by-laws may be adopted, amended or repealed by a vote of a majority of all of the directors, if a quorum is present at such time.

If any by-law regulating an impending election of directors is adopted, amended or repealed by the Board, there shall be set forth in the notice of the next meeting of directors for the election of directors the by-law so adopted, amended or repealed, together with a concise statement of the changes made.

Succession Committee Considerations and Recommendations

1. The foundation shall carry on in perpetuity, as currently constituted, under the governance of the board, until the board chooses otherwise.

2. The board shall consist of from seven to eleven members.

3. A vote of not less than 75% of the board members shall be required to disburse all assets and close the foundation.

4. Current By-Laws shall be the governing documents and shall be amended as recommended by the board.

5. Nominations for officers shall be made by board members.

6. Election of officers shall require a vote of not less than 75% of the board members.

7.  Any future decision to sell 1 Sylvan Terrace shall require a vote of not less than 75% of the board members. Conditions of sale to be decided.

8. The mission of the foundation shall be carried on as defined in the Mission Statement.

9. A donor advised fund is incompatible with the mission and legacy of the fund as it currently stands. A donor advised fund would require giving up legal control of the assets and contributions, and would not permit the ownership of 1 Sylvan Terrace, the payment of salaries or the reimbursement of expenses. In short, The Preservation Fund would no longer exist and function as it does now.

10. If, for any reason, the President is unable or unwilling to fulfill the duties of the role, the Vice-President shall assume the role of President for the remainder of the President’s term, unless the board, pursuant to, and in accordance with the terms of the By-Laws, elects or appoints a successor to fill vacancy. At the end of the President’s term, if the Vice-President is still serving in such capacity, there shall be an election by the board of a new President pursuant to, and in accordance with the terms of the By-Laws.

Conflict of Interest Policy

ARTICLE I - Purpose

There exists between The Preservation Fund (the “Foundation”) and its board, officers and employees a fiduciary duty that carries with it a broad and unbending loyalty and fidelity. The board, officers and employees have the responsibility of administering the affairs of the Foundation honestly and prudently, and of exercising their best care, skill, and judgment for the sole benefit of the Foundation. Those persons will exercise the utmost good faith in all transactions involved in their duties, and they will not use their positions with the Foundation or knowledge gained therefrom for their personal benefit. The Foundation’s interest must have the first priority in all decisions and actions.

The purpose of this conflict of interest policy is to protect the Foundation’s interest when it is contemplating entering into a transaction or arrangement that might benefit the private interest of an officer, director or employee of the Foundation. This policy is intended to supplement but not replace any applicable state and federal laws governing conflict of interest applicable to nonprofit and charitable organizations.

ARTICLE II - Definitions

Interested Person. Any director, principal officer, or member of a committee with governing board delegated powers, who has a direct or indirect financial interest, as defined below, is an interested person.

Financial Interest. A person has a financial interest if the person has, directly or indirectly, through business, investment or family:

1. A significant ownership or investment interest in any entity with which the Foundation has a transaction or arrangement;

2. A compensation arrangement with the Foundation or with any entity or individual with which the Foundation has a transaction or arrangement; or

3. A potential significant ownership or investment interest in, or compensation arrangement with, any entity or individual with which the Foundation is negotiating a transaction or arrangement. For this purpose, compensation includes direct and indirect remuneration as well as gifts or favors that are not insubstantial. Receipt of any gift is disapproved except for gifts of nominal value which could not be refused without discourtesy. No personal gift of money should ever be accepted.

A financial interest is not necessarily a conflict of interest. Under Article III, a person who has a financial interest may have a conflict of interest only if the appropriate governing board or committee decides that a conflict of interest exists.

Committee. A committee designated by the board, comprised of disinterested persons. In the absence of disinterested board members, the board may appoint outside advisor(s) who are not officers, directors or employees of the Foundation.

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ARTICLE III - Procedures

Duty to Disclose. In connection with any actual or potential conflict of interest, an interested person must disclose to the board the existence of a financial interest and be given the opportunity to disclose all material facts.

Failure to Disclose. If the board has reasonable cause to believe a member has failed to disclose actual or possible conflicts of interest, it will afford the member an opportunity to explain the alleged failure to disclose and it will investigate as warranted by the circumstances. If the board determines the member has failed to disclose an actual or possible conflict of interest, it will take appropriate disciplinary and corrective action.

Determining Whether a Conflict of Interest Exists.

If a majority of the board believes that a financial interest may present a conflict of interest, the board will designate a committee to consider the facts. An interested person may make a presentation to the committee.

The committee members, with the interested person(s) not present, will rule out the possibility that such transaction or arrangement would constitute an act of self- dealing or a taxable expenditure, as defined in Sections 4941(d) or 4945(d), respectively, of the Internal Revenue Code. If such transaction or arrangement would not constitute an act of self-dealing or a taxable expenditure, the committee then will determine if a conflict of interest exists and is material and, in the presence of an existing material conflict, consider whether the Foundation can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the committee will determine by a majority vote, in their sole discretion, if the transaction or arrangement is in the Foundation’s best interest, for its own benefit, and is fair and reasonable. Their concern must be the

welfare of the Foundation and the advancement of its charitable mission.

The interested person shall not attempt to improperly influence the deliberation or voting of the committee members. The committee or the board shall document the existence and resolution of the conflict in the corporation’s records, including in the minutes of any meeting at which the conflict was discussed or voted upon.

In conformity with the above determination, the Foundation will act to avoid any conflict of interest found by the committee.

ARTICLE IV - Compensation

A voting member of the board or compensation committee who receives compensation, directly or indirectly, from the Foundation for services is precluded from voting on matters pertaining to that member ‘s compensation. No voting member of the governing board who receives compensation, directly or indirectly, from the Foundation, either individually or col-

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lectively, is prohibited from providing information to any committee regarding compensation. The Foundation will pay no compensation, directly or indirectly, to an outside advisor serving as a member of a compensation committee.

The governing board, or a board-designated compensation committee whose jurisdiction extends to compensation matters, or if there is only one director, an outside advisor, will:

1. Approve compensation arrangements in advance of paying compensation;

2. Document in writing the date and terms of approved compensation arrangements;

3. Record in writing the decision made by each individual who decided or voted on compensation arrangements;

4. Approve compensation arrangements based on information about compensation paid by similarly situated taxable or tax-exempt organizations for similar services, current compensation surveys or actual written offers from similarly situated organizations; and

5. Record in writing both the information relied upon to base its decision and its source.

Additionally, periodic reviews shall be conducted. The periodic reviews shall, at a minimum, include the following subjects:

(a) Whether compensation arrangements and benefits are reasonable, based on competent survey information, and the result of arm’s length bargaining; and

(b) Whether partnerships, joint ventures, and arrangements with management organizations conform to the Foundation’s written policies, are properly recorded, reflect reasonable investment or payments for goods and services, further charitable purposes and do not result in inurement, impermissible private benefit or an act of self-dealing or a taxable expenditure.

When conducting these periodic reviews, the Foundation may, but need not, use outside advisors. If outside experts are used, their use shall not relieve the governing board of its responsibility for ensuring that periodic reviews are conducted.

ARTICLE V - Annual Review

To ensure the Foundation operates in a manner consistent with charitable purposes and does not engage in activities that could jeopardize its tax-exempt status, the Foundation will make a copy of its conflict of interest policy readily available to its board members and officers. Additionally, each director, principal officer, or member of a committee with governing board delegated powers will annually sign a statement which affirms that such person:

1. Has received a copy of the conflict of interest policy;

2. Has read and understands the conflict of interest policy;

3. Has agreed to comply with the conflict of interest policy; and

4. Understands the Foundation is charitable and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes.

Signature:

Date:

Standing Committees

Nominating-Governance Committee — Oversee and evaluate the Board’s performance and compliance with the By-Laws guidelines and principles, identify individuals qualified to become Board members and recommend them to the Board. Maintain suitable orientation and education programs for new board and committee members, and recommend to the Board directors to serve on standing committees. Ensure the Board members are knowledgeable about their roles and responsibilities. Have oversight of Conflict of Interest Policy.

Budget — The role of the Budget Committee is to provide financial oversight for the Foundation. Tasks include budgeting and financial planning, overseeing the development and proposing an annual budget for the board’s consideration, monitoring income and expenses, setting long-range financial goals, and presenting quarterly reports to the board.

Investment Committee — Working with our investment advisors, Morgan Stanley, with an explicit understanding of our portfolio’s objectives and a clear appreciation of how our portfolio fulfills our needs. An investment strategy that includes a reasonable set of assumptions about our risk tolerance and expected returns.

Grants Committee — Establish criteria for the selection and distribution of grants. Determining the amount of the grant. Requesting from grantees a review of how they spent the grant and the difference it made in their programs. Reviewing the impact of the Grants Program history of giving as a guide to the future. Grants are not solicited.

1 Sylvan Terrace Committee — Oversight of The Preservation Fund residence 1 Sylvan Terrace occupied by the Franciscan Friars of the Renewal. Ever since the founding of The Preservation Fund in 1992, the Friars have lived there. They go out into the community to perform their good works of serving the homeless, building shelters, and running soup kitchens. They stay at 1 Sylvan Terrace free of charge and in helping the poor, we qualify for a charitable use asset and qualifying distribution helping us to accomplish our tax-exempt purpose including administrative expenses, program, assets, and grants. The Committee maintains a close relationship with the Friars.

Communications Committee — Focusing on internal and external communication of The Preservation Fund. Evaluate media objectives including marketing, print and digital publications. Review alternative media.

Insured: The Preservation Fund

Date: 5/11/2022

Producer: PROFESSIONAL RISK FACILITIES

Company: Continental Casualty Company

Directors & Officers Liability Coverage

THIS NOTICE IS TO BE ATTACHED TO AND FORM A PART OF THE POLICY REFERENCED BELOW.

Policy Number: 596474061 Policy Period: From 05/23/2022 to 05/23/2023

PREMIUM NOTICE

* The amount displayed includes taxes and fees, and surcharges (if applicable).

Insured: The Preservation Fund

Date: 5/11/2022

Producer: PROFESSIONAL RISK FACILITIES

Company: Continental Casualty Company

THIS NOTICE IS TO BE ATTACHED TO AND FORM A PART OF THE POLICY REFERENCED BELOW.

Policy Number: 596474061

Policy Period: From 05/23/2022 to 05/23/2023

* The amount displayed includes taxes and fees, and surcharges (if applicable).

Insured: The Preservation Fund Date: 5/11/2022

Producer: PROFESSIONAL RISK FACILITIES

SCHEDULE OF FORMS AND ENDORSEMENTS

Company: Continental Casualty Company

PROFESSIONAL SERVICES EXCLUSION ENDORSEMENT (NOT-FOR-PROFIT D&O COVERAGE PART)

THIS NOTICE IS TO BE ATTACHED TO AND FORM A PART OF THE POLICY REFERENCED BELOW.

ABSOLUTE BODILY INJURY/PROPERTY DAMAGE EXCLUSION ENDORSEMENT (NOT-FOR-PROFIT D&O COVERAGE PART)

Policy Number: 596474061

Period: From 05/23/2022 to 05/23/2023

CAP ON LOSSES FROM CERTIFIED ACTS OF TERRORISM

COVERAGE

OF PREMIUM CONFIRMATION OF ACCEPTANCE

* The amount displayed includes taxes and fees, and surcharges (if applicable).

CNA92863XX (04-19)

Insured: The Preservation Fund Date: 5/11/2022

Producer: PROFESSIONAL RISK FACILITIES

Company: Continental Casualty Company

Epack 3

NOT-FOR-PROFIT DIRECTORS AND OFFICERS AND ENTITY LIABILITY COVERAGE PART DECLARATIONS

NOTICE: THIS COVERAGE PART PROVIDES CLAIMS MADE COVERAGE, WHICH APPLIES ONLY TO CLAIMS FIRST MADE AGAINST THE INSUREDS DURING THE POLICY PERIOD. THE LIMIT OF LIABILITY TO PAY JUDGMENTS OR SETTLEMENT AMOUNTS SHALL BE REDUCED AND MAY BE EXHAUSTED BY PAYMENT OF DEFENSE COSTS. PLEASE READ THIS POLICY CAREFULLY

THIS NOTICE IS TO BE ATTACHED TO AND FORM A PART OF THE POLICY REFERENCED BELOW.

Policy Number: 596474061

Item 1. Named Insured: The Preservation Fund

Policy Period: From 05/23/2022 to 05/23/2023

Item 2. Aggregate Limit of Liability (including defense costs): $2,000,000

Item 3. Side A Additional Limit of Liability: $1,000,000

* The amount displayed includes taxes and fees, and surcharges (if applicable).

Item 4. Coverage Extensions Sublimits of Liability

A. crisis event expenses $25,000

B excess benefit transaction taxes $100,000

Item 5. Retentions:

A. Insuring Agreement Side B: $7,500 per claim

B. Insuring Agreement Side C: $7,500 per claim

Item 6. Pending or Prior Litigation Date: 5/23/1992

These Declarations, along with the completed and signed application, and the policy shall constitute the contract between the insureds and the Insurer.

Authorized Representative: Date: 05/11/2022 CNA92873XX 01-19

The Preservation Fund Board Statement of Commitment

The Board of Directors oversees the general direction, control and finances of The Preservation Fund and approves major policies governing activities in accordance with the By-Laws.

INDIVIDUAL BOARD MEMBERS AGREE TO:

Understand and support The Preservation Fund’s mission, attend three yearly Board meetings, including the annual meeting, support a culture of respect, dialogue, debate and Board consensus on governance matters, and ensure legal and ethical integrity.

BOARD MEMBERS:

(a) Should be knowledgeable about The Preservation Fund’s programs, financial needs and be an advocate for funds with potential donors, including foundations, other individuals, corporations, philanthropies, and institutions, and support The Preservation Fund through personal contributions, where possible,

(b) Prepare for meetings and otherwise share professional expertise, and engage in discussion and decision-making,

(c) Support the Board’s consensus on governance matters,

(d) Select, respect and support the Board’s leadership,

(e) Review and approve the annual budget,

(f) Propose prerequisites and qualified candidates for election to the Board of Directors, orient new members, and periodically and comprehensively evaluate their performances, and

(g) Serve on at least one of the Standing Committees of the Board:

• Budget

• Communications

• Grants

• NominatingGovernance

• Investment

• 1 Sylvan Terrace

Photos courtesy of: ServeHaiti, Columbia University, School of International and Public Affairs, Franciscan Friars of the Renewal, Maryhurst