$77K in expenses

To donate funds to charitable, educational, literary, religious, and scientific organizations, provided all recipient organizations are exempt organizations and eligible to receive charitable donations under sections 501(c)(3) and 170(c)(1) or (2) of the code, or the provisions of any future IRS regulations. The foundation provided $61,215 in scholarships for students to attend the university of north carolina at wilmington and $15,304 in support to other non-profit organizations: duke university for medical research and ST. John's episcopal church.