Oliver Family Foundation - Page 3

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               On February 22, 1994, petitioner filed with the Commissioner           
          a Form 1023, Application for Recognition of Exemption Under                 
          Section 501(c)(3) of the Internal Revenue Code (application), in            
          which it sought recognition as a tax-exempt entity.  The                    
          application reported that petitioner's activities were:                     
          (1) Supplying money, goods, or services to the poor; (2) gifts or           
          grants to individuals; and (3) services for the aged.  The                  
          information that petitioner provided to the Commissioner on and             
          with the application was vague as to the specifics of these                 
          activities.  The application indicated that petitioner had not              
          currently begun any activity, except for organizational                     
          activities.  The application stated, as to sources of financial             
          support, that                                                               
               At the present time this organization does not have any                
               procedure for the generation of income other than * * *                
                          *    *    *    *    *    *    *                             
                    (a) Direct donations from the general                             
                         public at large,                                             
                    (b) Larger sums from various fund                                 
                         raising activities,                                          
                    (c) A possible "Thrift Store" type of                             
                         operation, and                                               
                    (d) Donations of property (both                                   
                         personal and real) which can be                              
                         turned into cash, and                                        
                    (e) Various others as may be                                      
                         recommended and implemented by the                           

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