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Chiara Communities Foundation, Inc., a Wisconsin non-stock corporation (the Organization), is a newly-formed entity devoted exclusively to a program of support for charitable activities within the meaning of Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the Code). The Organization may also provide housing for the elderly and affordable housing for low-income individuals. The Organization is a Type II supporting organization of the Supported Organizations. The Organization will assist the Supported Organizations in meeting their charitable purposes. The Supported Organizations are nonprofit organizations that provide specially designed housing to elderly persons and low income elderly persons at the lowest feasible cost and maintains in residence those tenants who subsequently become unable to pay its monthly fees, as well as housing for low income individuals.