THE TRUSTEES OF CAMP CARPENTER CORPORATION (HEREAFTER "TCC") HAS ALWAYS MET ITS DISBURSEMENTS REQUIREMENTS AS PER FEDERAL TAX LAW FOR A FOUNDATION. THOSE DISBURSEMENTS WERE MADE EITHER DIRECTLY TO THE DANIEL WEBSTER COUNCIL, BOY SCOUTS OF AMERICA (HEREAFTER "DWC") OR IN SOME CASES DIRECTLY TO VENDORS TO SUPPORT THE PURPOSE OF THE FOUNDATION. THE DWC UTILIZES THE PROPERTY OF TCC UNDER AN AGREEMENT AS A YOUTH CAMP.DUE TO THE BOY SCOUTS OF AMERICA BANKRUPTCY AND FINANCIAL CONCERNS CONCERNING THE SUSTAINABILITY OF THE DANIEL WEBSTER COUNCIL OF THE BOY SCOUTS (THE LOCAL "FRANCHISE") THE DWC TERMINATED THEIR LONG-TERM EMPLOYEE WHO SERVED AS CARETAKER FOR THE PROPERTY OWNED BY TCC. THE TCC HAS DETERMINED THAT IT IS CRUCIAL THAT A PROPERTY OF THIS SIZE AND WITH THE IMPROVEMENTS THEREON IN THE LARGEST CITY IN NEW HAMPSHIRE REQUIRES A CARETAKER PRESENCE.AN EXAMINATION OF THE HOME OCCUPIED BY THE FORMER CARETAKER INDICATED SUBSTANTIAL DEFERRED MAINTENANCE AND A LARGE PRESENCE OF MOLD. IT IS UNLIKELY THAT A NEW CARETAKER WILL OCCUPY THIS STRUCTURE. AN ANALYSIS INDICATES THAT THAT IS MORE COST EFFECTIVE TO DEMOLISH THE EXISTING STRUCTURE AND CREATE A NEW STRUCTURE ON THE SAME SITE.THE TCC INTENDS TO UTILIZE THE ANNUAL CONTRIBUTION REQUIRED TO CONSTRUCT THE NEW STRUCTURE. IT IS ANTICIPATED THAT THE COST OF THE STRUCTURE WILL BE IN THE $275,000 RANGE. IT IS ANTICIPATED THAT THE PROJECT WILL TAKE APPROXIMATELY 48 MONTHS TO COMPLETE.IN RESPONSE TO THE REQUIRED CASH DISTRIBUTION TEST OF SECTION 4942(G)(2)(B)(II) WE CERTIFY THE FOLLOWING:THE PROJECT CONSISTS OF THE DEMOLITION OF AN EXISTING DWELLING AND REPLACING IT WITH A NEW DWELLING FOR THE USE OF A CARETAKER WHO WOULD HAVE THE RESPONSIBILITY OF MAINTAINING SECURITY OF THE LAND AND IMPROVEMENTS UTILIZED CURRENTLY BY THE DWC AS A SUMMER CAMP FOR YOUTH. THE PROJECT IS ANTICIPATED TO HAVE A COST OF APPROXIMATELY $275,000 AND WOULD BE COMPLETE NO LATER THAN APRIL 2027.IT IS ANTICIPATED THAT THE PROJECT WILL BE COMPLETED NO LATER THAN APRIL 15, 2027. THE SET ASIDE WAS DECLARED ON DECEMBER 15, 2024 AND THEREFORE THE COMPLETION WOULD BE NO MORE THAN 40 MONTHS. PLANNING IS CURRENTLY UNDERWAY, AND DEMOLITION WILL OCCUR IN 2025 WITH NEW CONSTRUCTION COMMENCING IN SPRING OF 2026. CONSTRUCTION IS ANTICIPATED TO BE LESS THAN 12 MONTHS.THE INITIAL SET-ASIDE AMOUNT OF $58,566, TO FUND A PORTION OF THE EXISTING BUILDING DEMOLITION, WAS DECLARED ON DECEMBER 15, 2024, AND THE PROJECT WAS ONLY IN CONCEPTUAL DESIGN IN 2024. NO FUNDS WERE EXPENDED IN 2024 ON THIS PROJECT. FIRST FUNDS FOR THIS PROJECT, INCLUDING THE SET-ASIDE AMOUNT OF $58,566, WILL BE EXPENDED IN 2025 WHICH WILL BE THE DEMOLITION OF THE EXISTING STRUCTURE.
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