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    Joseph T.J. Stewart and Sally K. Stewart Endowment Fund

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    New York State Law requires us to inform you that unless otherwise restricted by the gift instrument pursuant to paragraph (b) of Section 553 of the Not-for-Profit Corporation Law, the institution may expend so much of the endowment fund as it deems prudent after considering the factors set forth in paragraph (a) of Section 553 of the Not-for-Profit Corporation Law.

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