The Pan-Laconian Foundation, Inc. is a not-for-profit corporation under Sections 501© (3) and 170 © (2) of the Internal Revenue Code of 1986 established exclusively for charitable, religious, philanthropic, educational and scientific purposes, including, for such purposes, the making of distributions to organizations that qualify as exempt organizations under section 501© (3) of the Internal Revenue Code, or the corresponding section of any future federal tax code.