Peking University Education Foundation (USA) (“PKUEF (USA)”) was established in 2001 as a California nonprofit public benefit corporation under the support from alumni and friends of Peking University (PKU) in the United States. The specific purpose of PKUEF (USA) is to engage in charitable and educational activities within the purpose of the meaning of Section 501 (c) (3) of the Internal Revenue Code, including receiving and allocating contributions and grants, within the discretion of this corporation’s Board of Directors, to any organization organized and operated exclusively for charitable or educational purposes within the meaning of Section 501 (c) (3), including supporting Peking University’s long-term development and promoting the U.S.-China exchanges.