In furtherance of the charitable and exempt purposes of J Marguerite Sandefer Scholarship (the "Scholarship ") and Highground Advisors ("HGA"), on November 30, 2023, the Scholarship distributed all of its net assets to Highground Advisors, a public charity, thereby terminating its private foundation status under section 507(b)(1)(A). Doing so, this would continue to fulfill the donors charitable intent, by continuing to support the donors uneconomic trust most deserving of support by a public charity, to continue to provide scholarship grants to Hardin-Simmons University.The fair market value of such assets at the time of transfer was $38,753.06 consisting of a combination of securities and cash. No notice regarding a liquidation plan, resolution, etc. was required, because the transfer of such assets occurred only under section 507(b)(1)(A).
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Education
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