THE FOUNDATION MADE DISTRIBUTIONS OF $12,574 AND $10,558 DURING 2024. THE FOUNDATION IS MAKING AN ELECTION UNDER REGULATIONS SECTION 53.4942(A)-3(D)(2) TO MAKE THE $12,574 DISTRIBUTION OUT OF THE UNDISTRIBUTED INCOME FROM THE 2022 TAX YEAR. THE $10,558 DISTRIBUTION IS BEING MADE OUT OF THE UNDISTRIBUTED INCOME FROM THE 2023 TAX YEAR.