<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2022v5.0">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2024-05-14T10:47:16-04:00</ReturnTs>
    <TaxPeriodEndDt>2023-06-30</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>871753047</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>RUSHTON LLC</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>PO BOX 2917</AddressLine1Txt>
        <CityNm>GAINESVILLE</CityNm>
        <StateAbbreviationCd>GA</StateAbbreviationCd>
        <ZIPCd>30503</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990</ReturnTypeCd>
    <TaxPeriodBeginDt>2022-07-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>581740503</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>PROFESSIONAL ASSOCIATION OF GEORGIA</BusinessNameLine1Txt>
        <BusinessNameLine2Txt>EDUCATORS FOUNDATION INC</BusinessNameLine2Txt>
      </BusinessName>
      <BusinessNameControlTxt>PROF</BusinessNameControlTxt>
      <PhoneNum>7702168555</PhoneNum>
      <USAddress>
        <AddressLine1Txt>PO BOX 942270</AddressLine1Txt>
        <CityNm>ATLANTA</CityNm>
        <StateAbbreviationCd>GA</StateAbbreviationCd>
        <ZIPCd>311412270</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>DR HAYWARD CORDY</PersonNm>
      <PersonTitleTxt>PRESIDENT</PersonTitleTxt>
      <PhoneNum>7702168555</PhoneNum>
      <SignatureDt>2024-02-16</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <SigningOfficerGrp>
      <PersonFullName>
        <PersonFirstNm>HAYWARD</PersonFirstNm>
        <PersonLastNm>CORDY</PersonLastNm>
      </PersonFullName>
      <SSN>999009999</SSN>
    </SigningOfficerGrp>
    <IRSResponsiblePrtyInfoCurrInd>false</IRSResponsiblePrtyInfoCurrInd>
    <PreparerPersonGrp>
      <PreparerPersonNm>J CHRIS HOLLIFIELD</PreparerPersonNm>
      <PTIN>P00939610</PTIN>
      <PhoneNum>7702877800</PhoneNum>
      <PreparationDt>2024-05-14</PreparationDt>
    </PreparerPersonGrp>
    <TaxYr>2022</TaxYr>
    <BuildTS>2023-04-26 12:10:37Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="6">
    <IRS990 documentId="RetDoc2" referenceDocumentId="RetDoc5">
      <PrincipalOfficerNm>DR HAYWARD CORDY</PrincipalOfficerNm>
      <USAddress>
        <AddressLine1Txt>PO BOX 942270</AddressLine1Txt>
        <CityNm>ATLANTA</CityNm>
        <StateAbbreviationCd>GA</StateAbbreviationCd>
        <ZIPCd>31141</ZIPCd>
      </USAddress>
      <GrossReceiptsAmt>855837</GrossReceiptsAmt>
      <GroupReturnForAffiliatesInd>false</GroupReturnForAffiliatesInd>
      <Organization501c3Ind>X</Organization501c3Ind>
      <WebsiteAddressTxt>WWW.PAGEFOUNDATION.ORG</WebsiteAddressTxt>
      <TypeOfOrganizationCorpInd>X</TypeOfOrganizationCorpInd>
      <FormationYr>1985</FormationYr>
      <LegalDomicileStateCd>GA</LegalDomicileStateCd>
      <ActivityOrMissionDesc>THE MISSION OF THE PAGE FOUNDATION IS TO PROMOTE WORLD-CLASS EDUCATION FOR ALL OF GEORGIA'S CHILDREN THROUGH INITIATIVES THAT RECRUIT, DEVELOP, RETAIN AND RECOGNIZE HIGHLY ACCOMPLISHED TEACHERS.</ActivityOrMissionDesc>
      <VotingMembersGoverningBodyCnt>8</VotingMembersGoverningBodyCnt>
      <VotingMembersIndependentCnt>8</VotingMembersIndependentCnt>
      <TotalEmployeeCnt>0</TotalEmployeeCnt>
      <TotalVolunteersCnt>8</TotalVolunteersCnt>
      <TotalGrossUBIAmt>0</TotalGrossUBIAmt>
      <PYContributionsGrantsAmt>88185</PYContributionsGrantsAmt>
      <CYContributionsGrantsAmt>97617</CYContributionsGrantsAmt>
      <PYProgramServiceRevenueAmt>17899</PYProgramServiceRevenueAmt>
      <CYProgramServiceRevenueAmt>18399</CYProgramServiceRevenueAmt>
      <PYInvestmentIncomeAmt>243491</PYInvestmentIncomeAmt>
      <CYInvestmentIncomeAmt>231234</CYInvestmentIncomeAmt>
      <CYOtherRevenueAmt>0</CYOtherRevenueAmt>
      <PYTotalRevenueAmt>349575</PYTotalRevenueAmt>
      <CYTotalRevenueAmt>347250</CYTotalRevenueAmt>
      <PYGrantsAndSimilarPaidAmt>19000</PYGrantsAndSimilarPaidAmt>
      <CYGrantsAndSimilarPaidAmt>23500</CYGrantsAndSimilarPaidAmt>
      <CYBenefitsPaidToMembersAmt>0</CYBenefitsPaidToMembersAmt>
      <CYSalariesCompEmpBnftPaidAmt>0</CYSalariesCompEmpBnftPaidAmt>
      <CYTotalProfFndrsngExpnsAmt>0</CYTotalProfFndrsngExpnsAmt>
      <CYTotalFundraisingExpenseAmt>953</CYTotalFundraisingExpenseAmt>
      <PYOtherExpensesAmt>64827</PYOtherExpensesAmt>
      <CYOtherExpensesAmt>82314</CYOtherExpensesAmt>
      <PYTotalExpensesAmt>83827</PYTotalExpensesAmt>
      <CYTotalExpensesAmt>105814</CYTotalExpensesAmt>
      <PYRevenuesLessExpensesAmt>265748</PYRevenuesLessExpensesAmt>
      <CYRevenuesLessExpensesAmt>241436</CYRevenuesLessExpensesAmt>
      <TotalAssetsBOYAmt>2018591</TotalAssetsBOYAmt>
      <TotalAssetsEOYAmt>2172138</TotalAssetsEOYAmt>
      <TotalLiabilitiesBOYAmt>80</TotalLiabilitiesBOYAmt>
      <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
      <NetAssetsOrFundBalancesBOYAmt>2018511</NetAssetsOrFundBalancesBOYAmt>
      <NetAssetsOrFundBalancesEOYAmt>2172138</NetAssetsOrFundBalancesEOYAmt>
      <InfoInScheduleOPartIIIInd>X</InfoInScheduleOPartIIIInd>
      <MissionDesc>THE MISSION OF THE PAGE FOUNDATION IS TO PROMOTE WORLD-CLASS EDUCATION FOR ALL OF GEORGIA'S CHILDREN THROUGH INITIATIVES THAT RECRUIT, DEVELOP, RETAIN AND RECOGNIZE HIGHLY ACCOMPLISHED TEACHERS.</MissionDesc>
      <SignificantNewProgramSrvcInd>false</SignificantNewProgramSrvcInd>
      <SignificantChangeInd>false</SignificantChangeInd>
      <ExpenseAmt>37427</ExpenseAmt>
      <RevenueAmt>18399</RevenueAmt>
      <Desc>THE PAGE STUDENT TEACHER ACHIEVEMENT RECOGNITION (STAR) PROGRAM HONORS GEORGIA'S HIGHEST-ACHIEVING HIGH SCHOOL SENIORS AND THE TEACHERS MOST INSTRUMENTAL IN THEIR ACADEMIC DEVELOPMENT. SINCE INCEPTION, THE PAGE STAR PROGRAM HAS HONORED MORE THAN 29,500 STUDENTS AND TEACHERS. THE STAR PROGRAM WAS LAUNCHED IN 1958 BY THE GEORGIA CHAMBER OF COMMERCE. IN 1994, THE PROFESSIONAL ASSOCIATION OF GEORGIA EDUCATORS (PAGE) FOUNDATION ASSUMED RESPONSIBILITY FOR THE ADMINISTRATION AND PROMOTION OF THE STATEWIDE PROGRAM. THE NEARLY 92,000 MEMBERS OF PAGE AND THE TRUSTEES OF THE PAGE FOUNDATION ARE HONORED TO RECOGNIZE GEORGIA'S FUTURE LEADERS AND THE PROFESSIONAL EDUCATORS WHO HAVE NURTURED THESE SCHOLARS. AT THE LOCAL, REGION, AND STATE LEVELS, THE PAGE STAR PROGRAM UNITES EDUCATORS WITH BUSINESS AND CIVIC LEADERS TO HONOR ACADEMIC EXCELLENCE.</Desc>
      <ProgSrvcAccomActy2Grp>
        <ExpenseAmt>23500</ExpenseAmt>
        <GrantAmt>23500</GrantAmt>
        <Desc>THE PAGE FOUNDATION IS DEDICATED TO PROMOTING EXCELLENCE IN GEORGIA'S PUBLIC SCHOOLS AND OFFERS SCHOLARSHIPS TO ENHANCE THE TEACHING PROFESSION. IN 1986, GEORGIA GOV. GEORGE BUSBEE PRESENTED THE FIRST PAGE FUTURE TEACHER SCHOLARSHIP. SINCE THEN, PAGE HAS INVESTED MORE THAN 600,000 IN FINANCIAL ASSISTANCE TO STUDENTS WHO HAVE DISTINGUISHED THEMSELVES ACADEMICALLY AND THROUGH THEIR SERVICE WITHIN THE FIELD OF EDUCATION. THEY WILL BE THE TEACHERS WHO TAKE GEORGIA'S STUDENTS TO THE NEXT MILLENNIUM. WITH THE ADVENT OF THE HOPE SCHOLARSHIPS, THE FOUNDATION SHIFTED THE FOCUS OF ITS FINANCIAL ASSISTANCE PROGRAMS TO INCLUDE THOSE WHO HAVE ALREADY WORKED AS EDUCATORS. IN ADDITION TO COLLEGE STUDENTS, SCHOLARSHIPS ARE PROVIDED TO TEACHERS WHO WISH TO PURSUE GRADUATE DEGREES AND ALSO TO PARAPROFESSIONALS WHO WANT TO BECOME TEACHERS. AS WITH THE EARLIER SCHOLARSHIPS, THE GOAL REMAINS THE SAME: TO ENHANCE THE TEACHING PROFESSION. APPLICATIONS ARE SCORED ON THE BASIS OF ACADEMIC ACHIEVEMENT AND RECOMMENDATIONS, AS WELL AS TWO WRITTEN ESSAYS. EACH SCHOLARSHIP IS A ONE- TIME CASH AWARD PAYABLE TO THE RECIPIENT'S COLLEGE OR UNIVERSITY. THE AWARD AMOUNT IS SPECIFIED ON THE APPLICATION FOR EACH SCHOLARSHIP.</Desc>
      </ProgSrvcAccomActy2Grp>
      <TotalProgramServiceExpensesAmt>60927</TotalProgramServiceExpensesAmt>
      <DescribedInSection501c3Ind referenceDocumentId="RetDoc6">true</DescribedInSection501c3Ind>
      <ScheduleBRequiredInd referenceDocumentId="RetDoc1">true</ScheduleBRequiredInd>
      <PoliticalCampaignActyInd>false</PoliticalCampaignActyInd>
      <LobbyingActivitiesInd>false</LobbyingActivitiesInd>
      <SubjectToProxyTaxInd>false</SubjectToProxyTaxInd>
      <DonorAdvisedFundInd referenceDocumentId="RetDoc3">false</DonorAdvisedFundInd>
      <ConservationEasementsInd referenceDocumentId="RetDoc3">false</ConservationEasementsInd>
      <CollectionsOfArtInd referenceDocumentId="RetDoc3">false</CollectionsOfArtInd>
      <CreditCounselingInd referenceDocumentId="RetDoc3">false</CreditCounselingInd>
      <DonorRstrOrQuasiEndowmentsInd referenceDocumentId="RetDoc3">false</DonorRstrOrQuasiEndowmentsInd>
      <ReportLandBuildingEquipmentInd referenceDocumentId="RetDoc3">true</ReportLandBuildingEquipmentInd>
      <ReportInvestmentsOtherSecInd referenceDocumentId="RetDoc3">false</ReportInvestmentsOtherSecInd>
      <ReportProgramRelatedInvstInd referenceDocumentId="RetDoc3">false</ReportProgramRelatedInvstInd>
      <ReportOtherAssetsInd referenceDocumentId="RetDoc3">false</ReportOtherAssetsInd>
      <ReportOtherLiabilitiesInd referenceDocumentId="RetDoc3">false</ReportOtherLiabilitiesInd>
      <IncludeFIN48FootnoteInd referenceDocumentId="RetDoc3">true</IncludeFIN48FootnoteInd>
      <IndependentAuditFinclStmtInd referenceDocumentId="RetDoc3">true</IndependentAuditFinclStmtInd>
      <ConsolidatedAuditFinclStmtInd referenceDocumentId="RetDoc3">false</ConsolidatedAuditFinclStmtInd>
      <SchoolOperatingInd>false</SchoolOperatingInd>
      <ForeignOfficeInd>false</ForeignOfficeInd>
      <ForeignActivitiesInd>false</ForeignActivitiesInd>
      <MoreThan5000KToOrgInd>false</MoreThan5000KToOrgInd>
      <MoreThan5000KToIndividualsInd>false</MoreThan5000KToIndividualsInd>
      <ProfessionalFundraisingInd>false</ProfessionalFundraisingInd>
      <FundraisingActivitiesInd>false</FundraisingActivitiesInd>
      <GamingActivitiesInd>false</GamingActivitiesInd>
      <OperateHospitalInd>false</OperateHospitalInd>
      <GrantsToOrganizationsInd referenceDocumentId="RetDoc4">false</GrantsToOrganizationsInd>
      <GrantsToIndividualsInd referenceDocumentId="RetDoc4">true</GrantsToIndividualsInd>
      <ScheduleJRequiredInd>false</ScheduleJRequiredInd>
      <TaxExemptBondsInd>false</TaxExemptBondsInd>
      <EngagedInExcessBenefitTransInd>false</EngagedInExcessBenefitTransInd>
      <PYExcessBenefitTransInd>false</PYExcessBenefitTransInd>
      <LoanOutstandingInd>false</LoanOutstandingInd>
      <GrantToRelatedPersonInd>false</GrantToRelatedPersonInd>
      <BusinessRlnWithOrgMemInd>false</BusinessRlnWithOrgMemInd>
      <BusinessRlnWithFamMemInd>false</BusinessRlnWithFamMemInd>
      <BusinessRlnWith35CtrlEntInd>false</BusinessRlnWith35CtrlEntInd>
      <DeductibleNonCashContriInd>false</DeductibleNonCashContriInd>
      <DeductibleArtContributionInd>false</DeductibleArtContributionInd>
      <TerminateOperationsInd>false</TerminateOperationsInd>
      <PartialLiquidationInd>false</PartialLiquidationInd>
      <DisregardedEntityInd>false</DisregardedEntityInd>
      <RelatedEntityInd>false</RelatedEntityInd>
      <RelatedOrganizationCtrlEntInd>false</RelatedOrganizationCtrlEntInd>
      <TrnsfrExmptNonChrtblRltdOrgInd>false</TrnsfrExmptNonChrtblRltdOrgInd>
      <ActivitiesConductedPrtshpInd>false</ActivitiesConductedPrtshpInd>
      <ScheduleORequiredInd>true</ScheduleORequiredInd>
      <IRPDocumentCnt>0</IRPDocumentCnt>
      <IRPDocumentW2GCnt>0</IRPDocumentW2GCnt>
      <EmployeeCnt>0</EmployeeCnt>
      <UnrelatedBusIncmOverLimitInd>false</UnrelatedBusIncmOverLimitInd>
      <ForeignFinancialAccountInd>false</ForeignFinancialAccountInd>
      <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
      <TaxablePartyNotificationInd>false</TaxablePartyNotificationInd>
      <NondeductibleContributionsInd>false</NondeductibleContributionsInd>
      <QuidProQuoContributionsInd>true</QuidProQuoContributionsInd>
      <QuidProQuoContriDisclInd>true</QuidProQuoContriDisclInd>
      <Form8282PropertyDisposedOfInd>false</Form8282PropertyDisposedOfInd>
      <RcvFndsToPayPrsnlBnftCntrctInd>false</RcvFndsToPayPrsnlBnftCntrctInd>
      <PayPremiumsPrsnlBnftCntrctInd>false</PayPremiumsPrsnlBnftCntrctInd>
      <Form8899Filedind>false</Form8899Filedind>
      <Form1098CFiledInd>false</Form1098CFiledInd>
      <IndoorTanningServicesInd>false</IndoorTanningServicesInd>
      <SubjToTaxRmnrtnExPrchtPymtInd>false</SubjToTaxRmnrtnExPrchtPymtInd>
      <SubjectToExcsTaxNetInvstIncInd>false</SubjectToExcsTaxNetInvstIncInd>
      <InfoInScheduleOPartVIInd>X</InfoInScheduleOPartVIInd>
      <GoverningBodyVotingMembersCnt>8</GoverningBodyVotingMembersCnt>
      <IndependentVotingMemberCnt>8</IndependentVotingMemberCnt>
      <FamilyOrBusinessRlnInd>false</FamilyOrBusinessRlnInd>
      <DelegationOfMgmtDutiesInd>false</DelegationOfMgmtDutiesInd>
      <ChangeToOrgDocumentsInd>false</ChangeToOrgDocumentsInd>
      <MaterialDiversionOrMisuseInd>false</MaterialDiversionOrMisuseInd>
      <MembersOrStockholdersInd>false</MembersOrStockholdersInd>
      <ElectionOfBoardMembersInd>false</ElectionOfBoardMembersInd>
      <DecisionsSubjectToApprovaInd>false</DecisionsSubjectToApprovaInd>
      <MinutesOfGoverningBodyInd>true</MinutesOfGoverningBodyInd>
      <MinutesOfCommitteesInd>true</MinutesOfCommitteesInd>
      <OfficerMailingAddressInd>false</OfficerMailingAddressInd>
      <LocalChaptersInd>false</LocalChaptersInd>
      <Form990ProvidedToGvrnBodyInd>true</Form990ProvidedToGvrnBodyInd>
      <ConflictOfInterestPolicyInd>true</ConflictOfInterestPolicyInd>
      <AnnualDisclosureCoveredPrsnInd>true</AnnualDisclosureCoveredPrsnInd>
      <RegularMonitoringEnfrcInd>true</RegularMonitoringEnfrcInd>
      <WhistleblowerPolicyInd>true</WhistleblowerPolicyInd>
      <DocumentRetentionPolicyInd>true</DocumentRetentionPolicyInd>
      <CompensationProcessCEOInd>false</CompensationProcessCEOInd>
      <CompensationProcessOtherInd>false</CompensationProcessOtherInd>
      <InvestmentInJointVentureInd>false</InvestmentInJointVentureInd>
      <StatesWhereCopyOfReturnIsFldCd>GA</StatesWhereCopyOfReturnIsFldCd>
      <UponRequestInd>X</UponRequestInd>
      <BooksInCareOfDetail>
        <PersonNm>STEVE LUSK</PersonNm>
        <PhoneNum>7702168555</PhoneNum>
        <USAddress>
          <AddressLine1Txt>2971 FLOWERS ROAD SOUTH SUITE 151</AddressLine1Txt>
          <CityNm>ATLANTA</CityNm>
          <StateAbbreviationCd>GA</StateAbbreviationCd>
          <ZIPCd>31141</ZIPCd>
        </USAddress>
      </BooksInCareOfDetail>
      <NoListedPersonsCompensatedInd>X</NoListedPersonsCompensatedInd>
      <Form990PartVIISectionAGrp>
        <PersonNm>DR HAYWARD CORDY</PersonNm>
        <TitleTxt>PRESIDENT</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>OATANISHA DAWSON</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>CRAIG HARPER</PersonNm>
        <TitleTxt>EXECUTIVE DI</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>JILL HAY</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>ANTHONY JAMES</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>STEVE LUSK</PersonNm>
        <TitleTxt>TREASURER</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>CAROL MORRIS</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>BRAD WILSON</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>NICK ZOMER</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <FormerOfcrEmployeesListedInd>false</FormerOfcrEmployeesListedInd>
      <TotalCompGreaterThan150KInd>false</TotalCompGreaterThan150KInd>
      <CompensationFromOtherSrcsInd>false</CompensationFromOtherSrcsInd>
      <AllOtherContributionsAmt>97617</AllOtherContributionsAmt>
      <TotalContributionsAmt>97617</TotalContributionsAmt>
      <ProgramServiceRevenueGrp>
        <Desc>STAR PROGRAM</Desc>
        <BusinessCd>611710</BusinessCd>
        <TotalRevenueColumnAmt>18399</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>18399</RelatedOrExemptFuncIncomeAmt>
      </ProgramServiceRevenueGrp>
      <TotalProgramServiceRevenueAmt>18399</TotalProgramServiceRevenueAmt>
      <InvestmentIncomeGrp>
        <TotalRevenueColumnAmt>79002</TotalRevenueColumnAmt>
        <ExclusionAmt>79002</ExclusionAmt>
      </InvestmentIncomeGrp>
      <GrossAmountSalesAssetsGrp>
        <SecuritiesAmt>660819</SecuritiesAmt>
      </GrossAmountSalesAssetsGrp>
      <LessCostOthBasisSalesExpnssGrp>
        <SecuritiesAmt>508587</SecuritiesAmt>
      </LessCostOthBasisSalesExpnssGrp>
      <GainOrLossGrp>
        <SecuritiesAmt>152232</SecuritiesAmt>
      </GainOrLossGrp>
      <NetGainOrLossInvestmentsGrp>
        <TotalRevenueColumnAmt>152232</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>152232</RelatedOrExemptFuncIncomeAmt>
      </NetGainOrLossInvestmentsGrp>
      <TotalRevenueGrp>
        <TotalRevenueColumnAmt>347250</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>170631</RelatedOrExemptFuncIncomeAmt>
        <ExclusionAmt>79002</ExclusionAmt>
      </TotalRevenueGrp>
      <GrantsToDomesticIndividualsGrp>
        <TotalAmt>23500</TotalAmt>
        <ProgramServicesAmt>23500</ProgramServicesAmt>
      </GrantsToDomesticIndividualsGrp>
      <FeesForServicesAccountingGrp>
        <TotalAmt>12267</TotalAmt>
        <ManagementAndGeneralAmt>12267</ManagementAndGeneralAmt>
      </FeesForServicesAccountingGrp>
      <OfficeExpensesGrp>
        <TotalAmt>23564</TotalAmt>
        <ManagementAndGeneralAmt>23345</ManagementAndGeneralAmt>
        <FundraisingAmt>219</FundraisingAmt>
      </OfficeExpensesGrp>
      <TravelGrp>
        <TotalAmt>3366</TotalAmt>
        <ProgramServicesAmt>3366</ProgramServicesAmt>
      </TravelGrp>
      <OtherExpensesGrp>
        <Desc>AWARDS &amp; SPONSORSHIPS</Desc>
        <TotalAmt>30479</TotalAmt>
        <ProgramServicesAmt>30479</ProgramServicesAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>BANK AND CREDIT CARD FEES</Desc>
        <TotalAmt>4064</TotalAmt>
        <ManagementAndGeneralAmt>3367</ManagementAndGeneralAmt>
        <FundraisingAmt>697</FundraisingAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>SUPPLIES AND MATERIALS</Desc>
        <TotalAmt>3849</TotalAmt>
        <ManagementAndGeneralAmt>3849</ManagementAndGeneralAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>BANQUETS AND MEETINGS</Desc>
        <TotalAmt>2782</TotalAmt>
        <ProgramServicesAmt>2782</ProgramServicesAmt>
      </OtherExpensesGrp>
      <AllOtherExpensesGrp>
        <TotalAmt>1943</TotalAmt>
        <ProgramServicesAmt>800</ProgramServicesAmt>
        <ManagementAndGeneralAmt>1106</ManagementAndGeneralAmt>
        <FundraisingAmt>37</FundraisingAmt>
      </AllOtherExpensesGrp>
      <TotalFunctionalExpensesGrp>
        <TotalAmt>105814</TotalAmt>
        <ProgramServicesAmt>60927</ProgramServicesAmt>
        <ManagementAndGeneralAmt>43934</ManagementAndGeneralAmt>
        <FundraisingAmt>953</FundraisingAmt>
      </TotalFunctionalExpensesGrp>
      <CashNonInterestBearingGrp>
        <BOYAmt>254060</BOYAmt>
        <EOYAmt>265845</EOYAmt>
      </CashNonInterestBearingGrp>
      <PrepaidExpensesDefrdChargesGrp>
        <BOYAmt>2754</BOYAmt>
        <EOYAmt>3804</EOYAmt>
      </PrepaidExpensesDefrdChargesGrp>
      <LandBldgEquipCostOrOtherBssAmt>41676</LandBldgEquipCostOrOtherBssAmt>
      <LandBldgEquipAccumDeprecAmt>41676</LandBldgEquipAccumDeprecAmt>
      <InvestmentsPubTradedSecGrp>
        <BOYAmt>1758416</BOYAmt>
        <EOYAmt>1898453</EOYAmt>
      </InvestmentsPubTradedSecGrp>
      <OtherAssetsTotalGrp>
        <BOYAmt>3361</BOYAmt>
        <EOYAmt>4036</EOYAmt>
      </OtherAssetsTotalGrp>
      <TotalAssetsGrp>
        <BOYAmt>2018591</BOYAmt>
        <EOYAmt>2172138</EOYAmt>
      </TotalAssetsGrp>
      <AccountsPayableAccrExpnssGrp>
        <BOYAmt>80</BOYAmt>
      </AccountsPayableAccrExpnssGrp>
      <TotalLiabilitiesGrp>
        <BOYAmt>80</BOYAmt>
        <EOYAmt>0</EOYAmt>
      </TotalLiabilitiesGrp>
      <OrganizationFollowsFASB117Ind>X</OrganizationFollowsFASB117Ind>
      <NoDonorRestrictionNetAssetsGrp>
        <BOYAmt>405053</BOYAmt>
        <EOYAmt>463494</EOYAmt>
      </NoDonorRestrictionNetAssetsGrp>
      <DonorRestrictionNetAssetsGrp>
        <BOYAmt>1613458</BOYAmt>
        <EOYAmt>1708644</EOYAmt>
      </DonorRestrictionNetAssetsGrp>
      <TotalNetAssetsFundBalanceGrp>
        <BOYAmt>2018511</BOYAmt>
        <EOYAmt>2172138</EOYAmt>
      </TotalNetAssetsFundBalanceGrp>
      <TotLiabNetAssetsFundBalanceGrp>
        <BOYAmt>2018591</BOYAmt>
        <EOYAmt>2172138</EOYAmt>
      </TotLiabNetAssetsFundBalanceGrp>
      <ReconcilationRevenueExpnssAmt>241436</ReconcilationRevenueExpnssAmt>
      <NetUnrlzdGainsLossesInvstAmt>-87809</NetUnrlzdGainsLossesInvstAmt>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AccountantCompileOrReviewInd>false</AccountantCompileOrReviewInd>
      <FSAuditedInd>true</FSAuditedInd>
      <FSAuditedBasisGrp>
        <SeparateBasisFinclStmtInd>X</SeparateBasisFinclStmtInd>
      </FSAuditedBasisGrp>
      <AuditCommitteeInd>true</AuditCommitteeInd>
      <FederalGrantAuditRequiredInd>false</FederalGrantAuditRequiredInd>
    </IRS990>
    <IRS990ScheduleA documentId="RetDoc6">
      <PublicOrganization170Ind>X</PublicOrganization170Ind>
      <GiftsGrantsContriRcvd170Grp>
        <CurrentTaxYearMinus4YearsAmt>126565</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>119381</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>125739</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>88185</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>97617</CurrentTaxYearAmt>
        <TotalAmt>557487</TotalAmt>
      </GiftsGrantsContriRcvd170Grp>
      <TotalCalendarYear170Grp>
        <CurrentTaxYearMinus4YearsAmt>126565</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>119381</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>125739</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>88185</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>97617</CurrentTaxYearAmt>
        <TotalAmt>557487</TotalAmt>
      </TotalCalendarYear170Grp>
      <PublicSupportTotal170Amt>557487</PublicSupportTotal170Amt>
      <GrossInvestmentIncome170Grp>
        <CurrentTaxYearMinus4YearsAmt>62309</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>40223</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>37703</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>118396</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>79002</CurrentTaxYearAmt>
        <TotalAmt>337633</TotalAmt>
      </GrossInvestmentIncome170Grp>
      <TotalSupportAmt>895120</TotalSupportAmt>
      <GrossReceiptsRltdActivitiesAmt>47381</GrossReceiptsRltdActivitiesAmt>
      <PublicSupportCY170Pct>0.62280</PublicSupportCY170Pct>
      <PublicSupportPY170Pct>0.66750</PublicSupportPY170Pct>
      <ThirtyThrPctSuprtTestsCY170Ind>X</ThirtyThrPctSuprtTestsCY170Ind>
    </IRS990ScheduleA>
    <IRS990ScheduleB documentId="RetDoc1">
      <ContributorInformationGrp>
        <ContributorNum>RESTRICTED</ContributorNum>
        <ContributorBusinessName>
          <BusinessNameLine1>RESTRICTED</BusinessNameLine1>
        </ContributorBusinessName>
        <ContributorUSAddress>
          <AddressLine1>RESTRICTED</AddressLine1>
          <AddressLine2>RESTRICTED</AddressLine2>
          <City>RESTRICTED</City>
          <State>RESTRICTED</State>
          <ZIPCode>RESTRICTED</ZIPCode>
        </ContributorUSAddress>
        <TotalContributionsAmt>RESTRICTED</TotalContributionsAmt>
      </ContributorInformationGrp>
    </IRS990ScheduleB>
    <IRS990ScheduleD documentId="RetDoc3">
      <EquipmentGrp>
        <OtherCostOrOtherBasisAmt>41676</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>41676</DepreciationAmt>
      </EquipmentGrp>
      <FootnoteTextInd>X</FootnoteTextInd>
      <TotalRevEtcAuditedFinclStmtAmt>703169</TotalRevEtcAuditedFinclStmtAmt>
      <NetUnrealizedGainsInvstAmt>-87809</NetUnrealizedGainsInvstAmt>
      <DonatedServicesAndUseFcltsAmt>443728</DonatedServicesAndUseFcltsAmt>
      <RevenueNotReportedAmt>355919</RevenueNotReportedAmt>
      <RevenueSubtotalAmt>347250</RevenueSubtotalAmt>
      <TotalRevenuePerForm990Amt>347250</TotalRevenuePerForm990Amt>
      <TotExpnsEtcAuditedFinclStmtAmt>549542</TotExpnsEtcAuditedFinclStmtAmt>
      <DonatedServicesUseFcltsAmt>443728</DonatedServicesUseFcltsAmt>
      <ExpensesNotReportedAmt>443728</ExpensesNotReportedAmt>
      <ExpensesSubtotalAmt>105814</ExpensesSubtotalAmt>
      <TotalExpensesPerForm990Amt>105814</TotalExpensesPerForm990Amt>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>SCHEDULE D, PAGE 3, PART X</FormAndLineReferenceDesc>
        <ExplanationTxt>NOTE 11 - UNCERTAIN TAX POSITIONS EFFECTIVE JULY 1, 2009, THE FOUNDATION IMPLEMENTED THE NEW ACCOUNTING REQUIREMENTS ASSOCIATED WITH UNCERTAINTY IN INCOME TAXES. THE GUIDANCE PRESCRIBES A MINIMUM RECOGNITION THRESHOLD AND MEASUREMENT METHODOLOGY THAT A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN IS REQUIRED BEFORE BEING RECOGNIZED IN THE FINANCIAL STATEMENTS. IT ALSO PROVIDES GUIDANCE FOR DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE AND TRANSITION. AS OF THE END OF THE CURRENT FISCAL YEAR, THE FOUNDATION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. WITH FEW EXCEPTIONS, THE FOUNDATION IS NO LONGER SUBJECT TO U.S. FEDERAL, STATE, AND LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE FISCAL YEAR 2020.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleD>
    <IRS990ScheduleI documentId="RetDoc4">
      <GrantRecordsMaintainedInd>false</GrantRecordsMaintainedInd>
      <GrantsOtherAsstToIndivInUSGrp>
        <GrantTypeTxt>SCHOLARSHIPS</GrantTypeTxt>
        <RecipientCnt>18</RecipientCnt>
        <CashGrantAmt>23500</CashGrantAmt>
      </GrantsOtherAsstToIndivInUSGrp>
    </IRS990ScheduleI>
    <IRS990ScheduleO documentId="RetDoc5">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 2, PART III, LINE 4A</FormAndLineReferenceDesc>
        <ExplanationTxt>THE PAGE STUDENT TEACHER ACHIEVEMENT RECOGNITION (STAR) PROGRAM HONORS GEORGIA'S HIGHEST-ACHIEVING HIGH SCHOOL SENIORS AND THE TEACHERS MOST INSTRUMENTAL IN THEIR ACADEMIC DEVELOPMENT. SINCE INCEPTION, THE PAGE STAR PROGRAM HAS HONORED MORE THAN 29,500 STUDENTS AND TEACHERS. THE STAR PROGRAM WAS LAUNCHED IN 1958 BY THE GEORGIA CHAMBER OF COMMERCE. IN 1994, THE PROFESSIONAL ASSOCIATION OF GEORGIA EDUCATORS (PAGE) FOUNDATION ASSUMED RESPONSIBILITY FOR THE ADMINISTRATION AND PROMOTION OF THE STATEWIDE PROGRAM. THE NEARLY 92,000 MEMBERS OF PAGE AND THE TRUSTEES OF THE PAGE FOUNDATION ARE HONORED TO RECOGNIZE GEORGIA'S FUTURE LEADERS AND THE PROFESSIONAL EDUCATORS WHO HAVE NURTURED THESE SCHOLARS. AT THE LOCAL, REGION, AND STATE LEVELS, THE PAGE STAR PROGRAM UNITES EDUCATORS WITH BUSINESS AND CIVIC LEADERS TO HONOR ACADEMIC EXCELLENCE.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 2, PART III, LINE 4B</FormAndLineReferenceDesc>
        <ExplanationTxt>THE PAGE FOUNDATION IS DEDICATED TO PROMOTING EXCELLENCE IN GEORGIA'S PUBLIC SCHOOLS AND OFFERS SCHOLARSHIPS TO ENHANCE THE TEACHING PROFESSION. IN 1986, GEORGIA GOV. GEORGE BUSBEE PRESENTED THE FIRST PAGE FUTURE TEACHER SCHOLARSHIP. SINCE THEN, PAGE HAS INVESTED MORE THAN 600,000 IN FINANCIAL ASSISTANCE TO STUDENTS WHO HAVE DISTINGUISHED THEMSELVES ACADEMICALLY AND THROUGH THEIR SERVICE WITHIN THE FIELD OF EDUCATION. THEY WILL BE THE TEACHERS WHO TAKE GEORGIA'S STUDENTS TO THE NEXT MILLENNIUM. WITH THE ADVENT OF THE HOPE SCHOLARSHIPS, THE FOUNDATION SHIFTED THE FOCUS OF ITS FINANCIAL ASSISTANCE PROGRAMS TO INCLUDE THOSE WHO HAVE ALREADY WORKED AS EDUCATORS. IN ADDITION TO COLLEGE STUDENTS, SCHOLARSHIPS ARE PROVIDED TO TEACHERS WHO WISH TO PURSUE GRADUATE DEGREES AND ALSO TO PARAPROFESSIONALS WHO WANT TO BECOME TEACHERS. AS WITH THE EARLIER SCHOLARSHIPS, THE GOAL REMAINS THE SAME: TO ENHANCE THE TEACHING PROFESSION. APPLICATIONS ARE SCORED ON THE BASIS OF ACADEMIC ACHIEVEMENT AND RECOMMENDATIONS, AS WELL AS TWO WRITTEN ESSAYS. EACH SCHOLARSHIP IS A ONE- TIME CASH AWARD PAYABLE TO THE RECIPIENT'S COLLEGE OR UNIVERSITY. THE AWARD AMOUNT IS SPECIFIED ON THE APPLICATION FOR EACH SCHOLARSHIP.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>FORM 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>REASON FOR STATEMENT THE PAGE FOUNDATION, AS A NONPROFIT, TAX-EXEMPT ORGANIZATION, DEPENDS ON CHARITABLE CONTRIBUTIONS FROM THE PUBLIC. MAINTENANCE OF ITS TAX-EXEMPT STATUS IS IMPORTANT BOTH FOR ITS CONTINUED FINANCIAL STABILITY AND FOR THE RECEIPT OF CONTRIBUTIONS AND PUBLIC SUPPORT. THEREFORE, THE OPERATIONS OF THE PAGE FOUNDATION FIRST MUST FULFILL ALL LEGAL REQUIREMENTS. THEY ALSO DEPEND ON THE PUBLIC TRUST AND THUS ARE SUBJECT TO SCRUTINY BY AND ACCOUNTABILITY TO BOTH GOVERNMENTAL AUTHORITIES AND MEMBERS OF THE PUBLIC. CONSEQUENTLY, THERE EXISTS BETWEEN THE PAGE FOUNDATION AND ITS BOARD, OFFICERS, AND MANAGEMENT EMPLOYEES A FIDUCIARY DUTY THAT CARRIES WITH IT A BROAD AND UNBENDING DUTY OF LOYALTY AND FIDELITY. THE BOARD, OFFICERS, AND MANAGEMENT EMPLOYEES HAVE THE RESPONSIBILITY OF ADMINISTERING THE AFFAIRS OF THE PAGE FOUNDATION HONESTLY AND PRUDENTLY, AND OF EXERCISING THEIR BEST CARE, SKILL, AND JUDGMENT FOR THE SOLE BENEFIT OF THE PAGE FOUNDATION. THOSE PERSONS SHALL EXERCISE THE UTMOST GOOD FAITH IN ALL TRANSACTIONS INVOLVED IN THEIR DUTIES, AND THEY SHALL NOT USE THEIR POSITIONS WITH THE PAGE FOUNDATION OR KNOWLEDGE GAINED THERE FROM FOR THEIR PERSONAL BENEFIT. THE INTERESTS OF THE ORGANIZATION MUST HAVE THE FIRST PRIORITY IN ALL DECISIONS AND ACTIONS. PERSONS CONCERNED THIS STATEMENT IS DIRECTED NOT ONLY TO BOARD MEMBERS AND OFFICERS, BUT TO ALL EMPLOYEES WHO CAN INFLUENCE THE ACTIONS OF THE PAGE FOUNDATION. FOR EXAMPLE, THIS INCLUDES ALL WHO MAKE PURCHASING DECISIONS, ALL OTHER PERSONS WHO MIGHT BE DESCRIBED AS "MANAGEMENT PERSONNEL,- AND ALL WHO HAVE PROPRIETARY INFORMATION CONCERNING THE PAGE FOUNDATION. KEY AREAS IN WHICH CONFLICT MAY ARISE CONFLICTS OF INTEREST MAY ARISE IN THE RELATIONS OF DIRECTORS, OFFICERS, AND MANAGEMENT EMPLOYEES WITH ANY OF THE FOLLOWING THIRD PARTIES: PERSONS AND FIRMS SUPPLYING GOODS AND SERVICES TO THE PAGE FOUNDATION PERSONS AND FIRMS FROM WHOM THE PAGE FOUNDATION LEASES PROPERTY AND EQUIPMENT PERSONS AND FIRMS WITH WHOM THE PAGE FOUNDATION IS DEALING OR PLANNING TO DEAL IN CONNECTION WITH THE GIFT, PURCHASE OR SALE OF REAL ESTATE, SECURITIES, OR OTHER PROPERTY COMPETING OR AFFINITY ORGANIZATIONS DONORS AND OTHERS SUPPORTING THE PAGE FOUNDATION RECIPIENTS OF SCHOLARSHIPS OR GRANTS FROM THE PAGE FOUNDATION AGENCIES, ORGANIZATIONS, AND ASSOCIATIONS THAT AFFECT THE OPERATIONS OF THE PAGE FOUNDATION FAMILY MEMBERS, FRIENDS, AND OTHER EMPLOYEES NATURE OF CONFLICTING INTEREST A MATERIAL CONFLICTING INTEREST MAY BE DEFINED AS AN INTEREST, DIRECT OR INDIRECT, WITH ANY PERSONS AND FIRMS DOING BUSINESS WITH THE PAGE FOUNDATION OR SEEKING SUCH A RELATIONSHIP. SUCH AN INTEREST MIGHT ARISE, FOR EXAMPLE, THROUGH 1.OWNING STOCK OR HOLDING DEBT OR OTHER PROPRIETARY INTERESTS IN ANY THIRD PARTY DEALING WITH THE PAGE FOUNDATION 2.HOLDING OFFICE, SERVING ON THE BOARD, PARTICIPATING IN MANAGEMENT, OR BEING OTHERWISE EMPLOYED (OR FORMERLY EMPLOYED) BY ANY THIRD PARTY DEALING WITH THE PAGE FOUNDATION 3.RECEIVING REMUNERATION FOR SERVICES WITH RESPECT TO INDIVIDUAL TRANSACTIONS INVOLVING THE PAGE FOUNDATION 4.USING THE PAGE FOUNDATION'S TIME, PERSONNEL, EQUIPMENT, SUPPLIES, OR GOOD WILL OTHER THAN FOR APPROVED PAGE FOUNDATION ACTIVITIES, PROGRAMS, AND PURPOSES 5.RECEIVING PERSONAL GIFTS OR LOANS FROM THIRD PARTIES DEALING WITH THE PAGE FOUNDATION. RECEIPT OF ANY GIFT IS DISAPPROVED EXCEPT GIFTS OF NOMINAL VALUE THAT COULD NOT BE REFUSED WITHOUT DISCOURTESY. NO PERSONAL GIFT OF MONEY SHOULD EVER BE ACCEPTED. INTERPRETATION OF THIS STATEMENT OF POLICY THE AREAS OF CONFLICTING INTEREST LISTED IN THE PREVIOUS SECTION, AND THE RELATIONS IN THOSE AREAS THAT MAY GIVE RISE TO CONFLICT ARE NOT EXHAUSTIVE. CONCEIVABLY, CONFLICTS MIGHT ARISE IN OTHER AREAS OR THROUGH OTHER RELATIONS. IT IS ASSUMED THAT THE TRUSTEES, OFFICERS, AND MANAGEMENT EMPLOYEES WILL RECOGNIZE SUCH AREAS AND RELATION BY ANALOGY. THE FACT THAT ONE OF THE INTERESTS DESCRIBED EXISTS DOES NOT MEAN NECESSARILY THAT A CONFLICT EXISTS, OR THAT THE CONFLICT, IF IT EXISTS, IS MATERIAL ENOUGH TO BE OF PRACTICAL IMPORTANCE, OR IF MATERIAL THAT UPON FULL DISCLOSURE OF ALL RELEVANT FACTS AND CIRCUMSTANCES THAT IT IS NECESSARILY ADVERSE TO THE INTERESTS OF THE PAGE FOUNDATION. HOWEVER, IT IS THE POLICY OF THE BOARD THAT THE EXISTENCE OF ANY OF THE INTERESTS DESCRIBED SHALL BE DISCLOSED ON A TIMELY BASIS AND ALWAYS BEFORE ANY TRANSACTION IS CONSUMMATED. IT SHALL BE THE CONTINUING RESPONSIBILITY OF BOARD, OFFICERS, AND MANAGEMENT EMPLOYEES TO SCRUTINIZE THEIR TRANSACTIONS AND OUTSIDE BUSINESS INTERESTS AND RELATIONSHIPS FOR POTENTIAL CONFLICTS AND TO IMMEDIATELY MAKE SUCH DISCLOSURES. DISCLOSURE POLICY AND PROCEDURE DISCLOSURE SHOULD BE MADE ACCORDING TO THE PAGE FOUNDATION STANDARDS. TRANSACTIONS WITH RELATED PARTIES MAY BE UNDERTAKEN ONLY IF ALL OF THE FOLLOWING ARE OBSERVED: 1.A MATERIAL TRANSACTION IS FULLY DISCLOSED IN THE AUDITED FINANCIAL STATEMENTS OF THE ORGANIZATION; 2.THE RELATED PARTY IS EXCLUDED FROM THE DISCUSSION AND APPROVAL OF SUCH TRANSACTION; 3.A COMPETITIVE BID OR COMPARABLE VALUATION EXISTS; AND 4.THE ORGANIZATION'S BOARD HAS ACTED UPON AND DEMONSTRATED THAT THE TRANSACTION IS IN THE BEST INTEREST OF THE ORGANIZATION. STAFF DISCLOSURES SHOULD BE MADE TO THE FOUNDATION DIRECTOR OR PRESIDENT (OR IF HE OR SHE IS THE ONE WITH THE CONFLICT, THEN TO THE DESIGNATED BOARD COMMITTEE), WHO SHALL DETERMINE WHETHER A CONFLICT EXISTS AND IS MATERIAL, AND IF THE MATTERS ARE MATERIAL, BRING THEM TO THE ATTENTION OF THE DESIGNATED COMMITTEE. DISCLOSURE INVOLVING DIRECTORS SHOULD BE MADE TO THE APPROPRIATE BOARD COMMITTEE AND IF APPROPRIATE TO THE PAGE FOUNDATION EXECUTIVE COMMITTEE. THE BOARD SHALL DETERMINE WHETHER A CONFLICT EXISTS AND IS MATERIAL, AND IN THE PRESENCE OF AN EXISTING MATERIAL CONFLICT, WHETHER THE CONTEMPLATED TRANSACTION MAY BE AUTHORIZED AS JUST, FAIR, AND REASONABLE TO THE PAGE FOUNDATION. THE DECISION OF THE BOARD ON THESE MATTERS WILL REST IN THEIR SOLE DISCRETION, AND THEIR CONCERN MUST BE THE WELFARE OF THE PAGE FOUNDATION AND THE ADVANCEMENT OF ITS PURPOSE. THE FOUNDATION MONITORS THESE CONFLICTS BY HAVING EACH BOARD MEMBER SIGN A CONFLICT OF INTEREST STATEMENT EACH YEAR. THESE ARE REVIEWED BY THE DIRECTOR AND PRESENTED TO THE BOARD IF THERE ARE ANY LISTED CONFLICTS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
  </ReturnData>
</Return>
