THE FOUNDATION IS REPORTING CASH DEEMED HELD FOR CHARITABLE ACTIVITIES IN EXCESS OF THE STANDARD 1.5% AMOUNT BECAUSE THE CASH BALANCE AT YEAR-END WAS HELD FOR A SPECIFICALLY APPROVED CHARITABLE GRANT. PRIOR TO YEAR-END, THE FOUNDATION'S GOVERNING BODY APPROVED A GRANT TO BE PAID FOR CHARITABLE PURPOSES CONSISTENT WITH THE FOUNDATION'S EXEMPT PURPOSE. THE CASH WAS NOT HELD FOR INVESTMENT PURPOSES, BUT WAS RETAINED TEMPORARILY TO SATISFY THIS APPROVED CHARITABLE DISBURSEMENT.THE AMOUNT REPORTED ON FORM 990-PF, PART IX, LINE 4 REPRESENTS THE CASH BALANCE REASONABLY NECESSARY TO FUND THE APPROVED GRANT AND RELATED CURRENT CHARITABLE DISBURSEMENTS. THE GRANT IS EXPECTED TO BE PAID WITHIN THE NORMAL COURSE OF THE FOUNDATION'S CHARITABLE ACTIVITIES.