The purpose of the Ellis Family Charitable Foundation (EFCF) shall be to make qualifying gifts, grants, and contributions to religious, charitable, educational, scientific, literary, historical and youth organizations
. . . including but not limited to, post-secondary educational institutions for scholarships and other education purposes, and to community chests, trusts, or foundations, which are recognized by the Internal Revenue Service or otherwise qualified as either 501(c)(3) federal tax-exempt entities and as 509(a) public charities or 4942 (j)(3) private operating foundations, or described as governmental units under 170(c)(1) of the Code; and perform all other acts and things not prohibited to a corporation organized under the laws of the State of New Jersey relating to nonprofit corporations, which are necessary, desirable, or appropriate to facilitate the accomplishment of the foregoing purposes.
At least ninety (90%) percent of the benefits to be disbursed by the foundation will be for the benefit of recipient organizations or entities that support the welfare of residents or workers who are employed in Burlington County, New Jersey.