Nature of Business
Charitable, THE CORPORATION IS ORGANIZED EXCLUSIVELY FOR CHARITABLE, SCIENTIFIC, RELIGIOUS, LITERARY OR EDUCATION PURPOSES WITHIN THE MEANING OF SECTION 501 (C) (3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE"), INCLUDING, WITHOUT LIMITATION, TO (A) PROVIDE EDUCATION, INSTRUCTION AND PROMOTION OF AMATEUR SAILING, (B) FOSTER NATIONAL AND INTERNATIONAL AMATEUR SPORTS COMPETITIONS, AND (C) DEVELOP AMATEUR SAILORS TO PARTICIPATE IN NATIONAL AND INTERNATIONAL SAILBOAT RACING.