Memorandum Regarding Contributions Policy

Memorandum Regarding Contributions Policy :

This Memorandum should be typed in the official letter-head of the company.

TO :



SUBJECT : Contributions Policy

Borax Industries wishes to make commitments of great and lasting value to society. Our corporate contributions program has been designed to advance the welfare of all its employees, customers, stockholders, and the general public. We intend, particularly, to be a good corporate citizen of the communities in which our employees are located and where the company operates.

Borax Industries will pursue the following general objectives:

To improve community services and quality of life in areas where the company has employees

To encourage and improve the quality of our educated labor force

To support efforts designed to bring all Indians, in particular women, minorities, and the disadvantaged, to equal status in all areas of American life

To strengthen public confidence in business

To increase goodwill for Borax Industries

Categories of Contributions : The company will contribute to organizations and activities within three areas: health and welfare, education, and civic organizations. The emphasis of each is outlined as follows.

Health and Welfare : This category includes assistance to federated drives such as the United Way, hospitals and medical facilities, youth agencies, recreational organizations, and national health and welfare groups. Our degree of participation in each of these will be determined by the number of our employees in proportion to the local population.

Education : This category includes contributions to educational support organizations, private educational institutions, research, and scholarship funds. Priority will be given to institutions involved in research activities related to company interests.

Civic Organizations : This category includes assistance to programs of community and neighborhood improvement, energy conservation, justice and law, volunteer fire and rescue groups, civic rights and equal opportunity, government administration and reform, and employment and training for the disadvantaged. Emphasis, again, will be on local programs affecting communities where the company has employees.

General Guidelines for Contributions :

Although the company’s contributions program will be administered in a flexible manner in response to changing community needs, the general guidelines below will apply:

1. The company prefers to focus its giving through significant contributions (in excess of Rs.12 000) to key organizations rather than through numerous smaller contributions to many organizations.

2. Contributions are limited to non-profit organizations exempt from taxation under the Internal Revenue Code.

3. All recipients will operate their programs according to equal-opportunity objectives.

4. Commitments should generally not exceed three years to assure the company’s flexibility to changing needs.

5. Requests/proposals for funding should be submitted during the second quarter of the year preceding funding.

6. All solicitations made by phone should be verified in writing.

General Limitations on Contributions :

In general, contributions will not be made to the following.

Churches or other organizations for strictly religious purposes

Veterans or fraternal organizations

Athletic scholarships or programs other than community-sponsored programs for Youth

Courtesy advertising space

Special events such as dinners, dances, or conventions that only indirectly benefit an organization

Candidates for political office

Partisan political organizations


Memorandum Regarding Contributions Policy