The audit committee will assist the Board of Directors (“Board”) in fulfilling its oversight responsibilities. The Audit Committee (“Committee”) will review the financial reporting process, the system of internal control, the audit process, and the process for monitoring compliance with laws and regulations. Management of the Foundation is responsible for the Foundation’s financial reporting, and for establishing and maintaining the financial, internal control and compliance systems.

In performing its duties, the Committee will maintain effective working relationships with the Board of Directors, management, and the internal and external auditors. To effectively perform his or her role, each Committee member will obtain an understanding of the detailed responsibilities of Committee membership as well as the Foundation’s business operations and risks.