AS A RESULT OF THE PASSING OF ITS SURVIVING FOUNDER IN 2021, ON DECEMBER 6, 2021, THE BOARD OF DIRECTORS OF THE HUTCHINS FAMILY FOUNDATION ADOPTED A PLAN OF DISSOLUTION BY UNANIOUS WRITTEN CONSENT. A COPY OF THE PLAN OF DISSOLUTION AS CERTIFIED BY THE FOUNDATION'S SECRETARY IS ATTACHED AS REQUIRED. PURSUANT TO SECTION 507(B)(1)(A) OF THE INTERNAL REVENUE CODE, ALL OF THE ASSETS OF THE HUTCHINS FAMILY FOUNDATION HAVE BEEN DISTRIBUTED TO PUBLIC CHARITIES WHICH HAVE BEEN IN EXISTENCE FOR AT LEAST FIVE (5) YEARS. ON OCTOBER 29, 2021, THE FOUNDATION DISTRIBUTED CASH IN THE AGGREGATE AMOUNT OF $6,044,446.23 TO THE FOLLOWING THREE PUBLIC CHARITIES: THE MINNEAPOLIS FOUNDATION, LOCATED IN MINNEAPOLIS, MINNESOTA, SCHWAB CHARITABLE FUND, LOCATED IN SAN FRANCISCO, CA AND VANGUARD CHARITABLE, LOCATED IN WARWICK, RI. THEN, ON DECEMBER 1, 2021, THE FOUNDATION DISTRIBUTED ALL OF ITS REMAINING ASSETS, CONSISTING OF CASH IN THE AMOUNT OF $274,290.97, TO THE SAME THREE PUBLIC CHARITIES.
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