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<h2 align="CENTER">The Purpose of the Albert J. Ryan Foundation</h2>
<h3 align="CENTER">as stated by Alice M. Ryan</h3>
<h3 align="CENTER">January 30, 1967</h3>
<h3 align="CENTER"> </h3>
<p>It is my intention to perpetuate the name of my family and the name of my late
beloved father, Albert J. Ryan, through the advancement of medical knowledge
for the good of all humanity by the encouragement of basic research in any or
all fields of medicine and related sciences. It is my preference but not a requirement
which I impose upon the trustees that the basic research be encouraged through
financial awards to researchers or to medical and scientific institutes who
are not receiving large awards of monies from state or federal government agencies
to underwrite their research.</p>
<p>The net income and so much of the principal as shall exceed, at the time of
distribution, the amount of principal received by the trustees under my last
will and testament shall be disposed of as follows (notwithstanding the possibility
that a later decline in markets might reduce the amount of the principal below
the amount received by the trustees under my will):</p>
<ol>
<li>The trustees shall from time to time pay such portions of the whole of the
net income or the principal authorized above for distribution to such one
or more of the charitable organizations (as hereafter defined) as the trustees
in their uncontrolled discretion shall determine for the purpose of awarding
one or more Albert J. Ryan Scholarships for outstanding students of medicine
or related sciences who show promise of becoming research scholars and who
show a capacity to contribute to the advancement of knowledge of medical science.</li>
<li>The trustees shall from time to time pay such portions or the whole of the
net income and/or the principal authorized above for distribution to one or
more of the charitable organizations (as herein defined) as the trustees in
their uncontrolled discretion shall determine, for the establishment of one
or more Albert J. Ryan Fellowships to underwrite postdoctoral graduate research
undertaken by an outstanding graduate student who is pursuing significant
basic research.</li>
<li>In the event that the current trend toward "Socialized medicine" is carried
to the extent that tax funds from state or federal government agencies provide,
in the judgement of the trustees, sufficient financial support for those basic
research projects which hold the greatest promise for the advancement of medical
science, the trustees may, in their uncontrolled discretion, award fellowships
or scholarships to promising scholars who are undertaking basic research in
any field of human knowledge, the results of which hold promise for the advancement
of the general welfare of humanity.</li>
<li>The trustees shall have the uncontrolled discretion to determine how many
scholarships and fellowships shall be awarded. The trustees may in their uncontrolled
discretion withhold the award of any scholarships of fellowships for such
a period of time during which, in their judgment, no suitable candidates make
application, or the candidates who do apply are being underwritten or could
be underwritten by state or federal funds, or for the reasons of sound financial
management of the Foundation.</li>
<li>The "charitable organizations" to which payments of income and/or principal
may be made under this trust are confined to corporations, trusts, funds or
foundations which are created or organized in the United States or in any
possession thereof, or under the laws of the United States or possession of
the United States; which are organized and operated exclusively for religious,
charitable, scientific, literary or educational purposes, with respect to
which no part of the earnings inures to the benefit of any private shareholder
or individual; and with respect to which no substantial part of the activities
is carrying on propaganda or otherwise attempting to influence legislation;
particularly the charitable organizations to which payments of income and/or
principal may be made so long as they conform to the foregoing description
are Harvard University, the University of Cincinnati, and Dartmouth College.</li>
<li>From and after the date of death of Alice M. Ryan, the trustees may amend
this trust in any way that from time to time may be necessary to cause the
income to be exempt from federal and state income taxation. Such amendment
shall be by an instrument in writing signed by the Trustees, which shall be
kept attached to the executed original of this trust held by the Trustees.
Despite such amendment, if made, the trust shall be irrevocable from the date
of death of Settlor.</li>
<li>Once each year from and after the date of the Settlor's death, the Trustees
shall render an accounting of all capital assets, of all receipts, and of
all disbursements in writing to the treasurer or chief fiscal officer of Harvard
University, of the University of Cincinnati, and of Dartmouth College.</li>
</ol>
<p> </p>
<p>Alice M. Ryan</p>
<p>January 30, 1967</p>
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