FRIENDS OF THE LEAGUE FOUNDATION (THE "FOUNDATION") WAS ESTABLISHED FOR THE EXCLUSIVE BENEFIT OF THE ASSISTANCE LEAGUE(R) OF LOS ANGELES (THE "LEAGUE"). THE FOUNDATION RECEIVED FUNDS FROM THE LEAGUE AND THESE FUNDS ARE INVESTED WITH A PORTION DISTRIBUTED ANNUALLY, WHEN NEEDED, TO THE LEAGUE ACCORDING TO A SPENDING PLAN. THE FUNDS ARE USED TO OFFSET ADMINISTRATIVE COSTS SO THAT LEAGUE FUNDRAISING C…