The primary mission of the Foundation is to raise and receive charitable contributions from friends and alumni of Will Rogers High School in Tulsa, Oklahoma and from the general public, to manage and invest the contributed mission and priorities. Additionally, the Foundation offers a resource of knowledge, through its Officers, Directors, Advisors, Friends of the Foundation and other volunteers, to the School administration and faculty to develop and conduct academic programs and community services.
The Foundation is operated independently of Will Rogers High School (the “School”) for the exclusive purpose of supporting the School, its academic programs and its students, as well as the School’s involvement in the “Greater Will Rogers Community,” which is comprised of neighboring residents and merchants as well as the public elementary and middle schools that feed into the School. The Foundation exists to provide opportunities for students and a margin of institutional excellence unavailable with state funds alone.
The Foundation is organized under the provisions of the Oklahoma General Corporation Act, and shall be operated exclusively for charitable and educational purposes, as set forth in its articles of incorporation (the “Articles of Incorporation”) and within the meaning of Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the “Code”). The Foundation is also organized pursuant to 70 O.S. §5-145 (or its successor or as may be amended), which encourages the formation of “local foundations” as supplements to basic programs publicly funded, while posing certain restrictions on a local foundation’s operation. The Foundation is not an alumni organization. Alumni participation is invited and encouraged, but being an alumnus of Will Rogers High School is not a requirement to be involved in the Foundation.
This corporation’s assets are irrevocably dedicated to public benefit purposes. No part of the net earnings, properties, or assets of the corporation, on dissolution or otherwise, shall inure to the benefit of any private person or individual, or to any director or officer of the corporation. On liquidation or dissolution, all properties and assets remaining after payment, or provision for payment, of all debts and liabilities of the corporation shall be distributed to a nonprofit fund, foundation, or corporation that is organized and operated exclusively for charitable purposes and that has established its exempt status under Internal Revenue Code section 501(c)(3).