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Purpose

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The Printing Industry of the Carolina Foundation Inc.
Foundation Charter
Article III

The purposes for which the corporation is organized are:

  • To encourage and assist through financial assistance and otherwise, worthy individuals primarily seeking education for careers in the Printing trade or industry.
  • The corporation is organized and shall be operated exclusively for public, charitable or educational purposes. In furtherance of such purposes, it may promote, establish, conduct and maintain activities on its own behalf or it may contribute to or otherwise assist other corporations, organizations and institutions carrying on such activities or any thereof; and for such purposes it may solicit and receive funds and other property, real, personal and mixed, and interests therein, by gift transfer, devise or bequest, and invest, reinvest, hold, manage, administer, expend and apply such funds and property, subject to such conditions and limitations, if any, as may be expressed in any instrument evidencing such gift, transfer, device or bequest.
  • No part of the income or principal of the corporation shall insure to the benefit of or be distributed to any member, director or officer of the corporation or any other private individual, but reimbursement for expenditures or the payment of reasonable compensation for services rendered shall not be deemed to be a distribution of income principal.

    In keeping with the spirit of Article III, the PICA Foundation policy is to spend interest only for program activities and protect the principal of the following accounts:

    PICA Foundation Educational Endowment Fund

    PICA/Weese Scholarship Fund

    PICA/xpedx Graphics Management Institute Fund