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      <PrimaryExemptPurposeTxt>JEFFREY AND DIANA OWEN SCHOLARSHIP FOR EMERGING COMMUNITY BANK LEADERS, INC IS OPERATED EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF INTERNAL REVENUE CODE OF 1986 TO BENEFIT, PROMOTE AND SUPPORT, BY GIFT OR OTHERWISE, THE CHARITABLE AND EDUCATIONAL ACTIVITIES OF THE AMERICAN BANKERS ASSOCIATION (THE "ABA"). MORE SPECIFICALLY, THE CORPORATION IS A CHARITABLE ORGANIZATION FORMED TO PROMOTE AND SUPPORT EDUCATION BY PROVIDING FINANCIAL SUPPORT TO INDIVIDUALS THROUGH SCHOLARSHIPS, FELLOWSHIPS, AND SIMILAR TYPES OF GRANTS.</PrimaryExemptPurposeTxt>
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        <FormAndLineReferenceDesc>PART IV, SECTION A, LINE 3B</FormAndLineReferenceDesc>
        <ExplanationTxt>THE SUPPORTED ORGANIZATION, AMERICAN BANKERS ASSOCIATION, QUALIFIES UNDER SECTION 501(C)(6) AND HAS RECEIVED AN IRS DETERMINATION LETTER ON AUGUST 24, 1977. ABA COMPLETES ANNUALLY A PRO FORMA SCHEDULE A.</ExplanationTxt>
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        <FormAndLineReferenceDesc>PART IV, SECTION A, LINE 3C</FormAndLineReferenceDesc>
        <ExplanationTxt>SUPPORT GIVEN TO A SUPPORTED SECTION 501(C)(6) ORGANIZATION IS USED SOLELY FOR CHARITABLE PURPOSES.</ExplanationTxt>
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        <FormAndLineReferenceDesc>FORM 990-EZ, PART I, LINE 10 - GRANTS AND SIMILAR AMOUNTS PAID</FormAndLineReferenceDesc>
        <ExplanationTxt>ACTIVITY CLASSIFICATION: SCHOLARSHIPS. GRANTEE NAME: ANDREW COOK. AMOUNT GIVEN: 4,245. TOTAL INCLUDED ON FORM 990-EZ, LINE 10: 8,490.</ExplanationTxt>
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