REGISTERED 03913462 and REGISTERED 1084226

REGISTERED COMPANY NUMBER: 03913462 (England and Wales)REGISTERED CHARITY NUMBEIL 1084226

REPORT OF THE TRUSTEES ANDUNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2017

FORTHE STUDENTS EXPLORING MARRIAGE TRUST

SBM Associates Limited24 Wtmdswoith Road

LondonSWS 2JW

THE STUDENTS EXPLORING MARRIAGE TRUST

CONTENTS OF THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 AUGUST 2017

Reference and Administrative Details

Report of the Trustees

Independent Examiner's Report

Statement ofFinancial Activities

Statement ofFinancial Position

Notes to the Financial Statements

Detailed Statement ofFinancial Activities

Page

2 to 5

9 to 13

14


PATRONS

EXPLORE ARE HONOURED TO HAVE THE FOLLOWING PATRONS

The Rt Reverend Paul Butler, Bishop of DurhamSir Paul Coleridge, Founder of the Marriage Foundatioa

Canon Dr Aan Holt, OBEThe Reverend Les Isaac, Fouader of Street Pastors

Mrs Mary KentSir Anthony Seldon MA(Oxon), PhD(LSE), MBA

The Most Reverend Peter Smith, Archbishop of Southtvarh

REFERENCE AND ADMINISTRATIVE DETAILSFOR THE YEAR ENDED 31 AUGUST 2017

HONORARY PRESIDENT Mr Rex Chester MBK

TRUSTEES E P G AdamusC H Drummond —ChaumanA I D Somerv illaMra K Thorn (appointed 29/6/17)

REGISTERED OFFICE & MAINCONTACT ADDRESS

Suite 1025 Charter HouseLord Montgomery WayPortsmouthHampshire

PO I '!iN,

REGISTERED COMPANY NUMBER 03913462 (England and Wales)

REGISTERED CHARITY NUMBER 1084226

INDEPENDENT EXAMINER SBM Associates Limited24 Wandsworth RoadLondonSW8 2JW

BANKERS The C~perative BankDelf HouseSouthway

Skelmersdale

Mr Christopher Ford (to 6/11/2017Ms L!up Gagliani MBE (aom 7/11/2017)

Page 1


REPORT OF THE TRUSTEESFOR THE YEAR ENDED 31 AUGUST 2017

The Trustees of the charity who are also Directors for the purposes of the Companies Act 2006, present their report withthe financial statements of the charity for the year ended 31 August 2017. The Trustees have adopted the pmvisions ofAccounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing theiraccounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)(effective January 2015).

OB3ECTIVES AND ACTIVITIESObjectives and aimsThe aim ofthe Students Exploring Marriage Trust is to enable young people to explore the realities of lasting relationshipsand marriage in our society today by the advancement ofeducation of the general public, in particular, young people of allraces and creeds, on all aspects of lasting relationships, family life and marriage. The Students Exploring MarriageTrust, known operationally as Explore, applies the principles of learning by experience, where young people lead theirown dialogue to investigate the relationships of ordinary couples who, in response, oifer the experience of their ownmarriage. Marriage is used as a case study for a long tenn committed relationship since it is capable ofdefinition and isconsidered a key building block of society.

Significant activitiesThe Students Exploring Marriage Trust is a provider ofeducational services to schools, colleges and prisons. Its missionis to help young people receive an education in the emotional literacy and life skills that produce lasting relationships,

strong family life and successful marriages. It is committed to both maintaining the highest standards in service deliveryand to being responsive to safeguarding those who receive the service.The Students Exploring Marriage Trust, known as Explore, is committed to deliver its services through trained and

prepared leaders and volunteer couples with cultural sensitivity and without discrimination or prejudice. It operates acomprehensive Child Protection Health and Safety Policy, and is a member of the Churches Safeguarding Agency.Explore seeks to:

- Connect young people with married couples who can share their experiences- Enable young people to think positively about long term relationships- Tackle the worrying statistics about family breakdown in the UK

During the 2016/ 2017 financial year, the charity organised half day conferences and class sessions in schools, collegesand prisons during which nearly 8,000 young people participated in Explore events, bringing the total ofparticipants since2000 to almost 100,000 fiom over 250 schools and 122 prisons. The vast proportion ofout participants are aged 15 to 18.

The work ofExplore has been recognised as being consistent with thepolicies and philosophies of UK educational bodies and HM Prison Service. There has been a considerable and

favourable shift in opinion, reflected politically, in society, and in the media, towards the importance of educating youngpeople in the necessary life skills that support relationships and strong family life. This has given Explore increasedopportunity to grow within existing areas and into new geographical regions.

Public benefitThe Trustees review on a regular basis the aims, objectives and achievements to ensure the charity remains focused on itsstated purposes. The Trustees have complied with the duty in Section 4 of the Charities Act to have due mgard to thePublic Benefit guidance published by the Charity Commission. The main activities carried out by the charity further itscharitable purposes for the public benefit.

Page 2



STRATEGIC REPORTAchievement and performanceCharitable activities

During 2016/ 2017 Explore maintained its volume of existing operations, providing 72 sessions in schools across 12counties. This figure was slightly down on the previous year, but continues to represent a broader scale of activity thanexisted five years ago. This expansion was achieved despite the challenges arising fi'om uncertainties over economicdifficulties and educational reform.

In 2016/2017, Explore has expanded its activities in some of its traditional areas ofoperation, with growth in the number

ofnew schools working with us in Romford and Hampshire.

Explore has developed a partnership approach with other charities, so as to combine our expertise with their establishedpresence in any given area. In 3 locations we have signed co-operation agreements for the joint employment of a LocalDevelopment Office for Explore. We expect these will pmvide further pockets ofgrowth.These operational steps have been supported by:

CommunicationExplore has a website, which is currently being upgraded for launch by December 2017. It is active on social media,with a regular blog post aimed at our youth audience. Our Twitter account enables us to have a wider voice and influencein the youth charity space. Our Facebook page is aimed more specifically at our existing and prospective volunteerforce. We have initiated a digital dimension to our operations with the team communications tool which facilitates groupdiscussions among our home-working based staff Our Impact Reporting is in the process of migrating online too, with

young people giving feedback through a survey app via a tablet or phone. Further evolution in this area is anticipated.

~Marketin

Explore has continued to develop its existing links with other charitable organisations which are complementary,including The Marriage Foundation, and the Dioceses of Westminster and of Brentwood.

l~dOExplore has created a lean and flexible management structure, with minimal central assets or costs. Increasingly,emphasis is placed on the development of self-sufficiency in the local areas where Explore's regular operations areconducted.

H~ii l 8Explore has implemented steps to plan and monitor its own finances, and put on a professional basis the bulk of itsfund-raising. This is intended to provide a stable basis of funding for the future and, of course, maintaining prudent

levels of liquidity.

Financial reviewFinancial positionAgainst an economic backdrop of limited resources and insecurities over fimding, it has continued to be difficult to launchour long-tenn plan to grow and develop Explore's services. Nevertheless the charity has succeeded in raising funds, andobtaining strong support fiom its base of volunteers, to maintain a steady level of operations. Total net funds stood atg61,579 at the end of the year, an increase of 14e/w which Places ExPlore within the reserve level recommended by theCharity Commission and in accordance with the Trustees Reserve Policy.

Principal funding sourcesThe charity's three main sources of income are grants from trust funds and charitable foundations, fees from client schoolsand prisons, and donations from individuals. Grants and donations are listed in note 2 to the accounts.

The Trustees would like to thank all donors for their substantial contribution they have made to the charity's work duringthe year.

Reserves policyTrustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held

by the charity should represent a minimum of 3 months of the organisation's operational expendinue.

Page 3



STRATEGIC REPORTPrincipal risks and uncertaintiesThe Trustees have examined the major strategic business and operational risks which the charity faces and confirm thatsysmms are in place to enable the charity to take the necessary steps to manage those risks.

Finaacial aad risk management objectives and policiesThe Trustees have devoted significant time to the consideration of the financial management of the charity, and havetaken all necessary steps to make themselves aware of the relevant financial information. The charity's accounts areprepared monthly and are reviewed in depth with the management and at each of the Trustees' meetings. The Trusteesacknowledge their responsibility for ensuring that proper accounting records are maintained as required. The accounts areprepared at yearend to provide a true and accurate record ofaffairs and of income and expenditure For the period.

Future plansIn summer 2017, the Trustees reviewed progress achieved under the existing 3 year business plan, and agreed a set ofpriority steps:

Promote, and assist with, attaining greater self-sufficiency among the local gmups that conduct Explore activitiesacross the country.Prioritise new initiatives for Explore, in the fields of service improvement and communication.Seek partnership agreements with other charities able to co-operate in supporting Explore's objectives.

In addition, planning was undertaken to introduce a new Chief Executive of Explore, following the planned retirement ofChris Ford in October 2017. Lisa Gagliani MBE, who was engaged to support fundraising strategy in January 2017, wasselected from a shortlisted pool of applicants, to take over as our new Chief Executive from November 2017. Lisa hasrecent senior leadership and marketing expertise in the charity sector.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing documentThe organisation is a charitable company limited by guanmtee and incorporated on 25 January 2000. The company wasestablished under a Memorandum which established its objects and powers, and it is governed by its Articles ofAssociation.

Recruitment and appointment of new trastessThe existing Board of Trustees is responsible for the appointment and removal of trustees.

Organisatianal structureThe Board ofTrustees of the Students Exploring Marriage Trust consists ofup to 15 members who meet at least 4 times ayear and are responsible for the strategic direction and policy of the charity. At present the Board has 4 members fiom avariety ofprofessional backgrounds relevant to the charity. The Chief Executive also sits on the board but has no votingrights. During the 2016/ 2017 year, the Board of Trustees met on 5 occasions.

Day to day responsibility for the management of the charity is delegated to the Chief Executive.

Induction and training of new trusteesNew trustees are briefed on their legal obligations under charity and company law, the contents of the Memorandum sndAriicles ofAssociation; the committee and decision-making process, the business plan and recent financial performanceof the charity. As part of the process they meet other trustees.

Tlttstees are encouraged to participate in operational meetings and events ofExplore, to represent the charity to externalcontacts and partners, and to attend appmpriate training courses: all towards facilitating the undertaking of their role.

Risk managementThe Trustees have examined the major shutegic business and operational risks which the charity faces snd confirm thatsystems are in place to enable the charity to take the necessary steps to manage those risks.

Page 4



Trustees' responsibilities in relation to the financial statements

The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicablelaw and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair viewof the state of the affairs of the charitable Company and of the incoming resources and application of resources, including

the income and expenditure, of the charitable Company for the year. In preparing these financial statements, the Trustees

are required to:

~ select suitable accounting policies and apply them consistentiy;

~ observe the methods and principles in the Charities SORP;~ make judgements and estimates that are reasonable and prudent;

~ state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained

in the financial statements; and

~ prepare the financial statements on a going concern basis unless it is inappropriate to presume that the Charity will continue in

operation.

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time

the financial position of the charitable Company and enable them to ensure that the financial statements comply with the

Companies Act 2006. They are also responsible for safeguarding the assets of the charitable Company and hence for

taking reasonable steps for the prevention and detection of &aud and other irregularities

This report has been prepared in accordance with the special provisions ofPart 15 of the Companies Act 2006 relating to

small companies.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company trustees,

on .........3.8,.~fha ..2Oi. fg and signed on the board's behalfby:

C H D ond —Trustee

Page 5

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OFTHE STUDENTS EXPLORING MARRIAGE TRUST

I report on the accounts for the year ended 31 August 2017 set out on pages seven to thirteen.

Respective respoasibilities of trmtees and examinerThe charity's trustees (who are also the directors for the purposes of company law) are responsible for the preparation ofthe accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of theCharities Act 2011 (the 2011 Act)) and that an independent examination is required.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independentexamination, it is my responsibility to:

examine the accounts under Section 145 of the 2011 Actto follow the procedures laid down in the General Directions given by the Charity Commission (under Section145(5') of the 2011 Act); andto state whether particular matters have come to my attention.

Basis of the independent examiner's reportMy examination was carried out in accordance with the General Directions given by the Charity Commission. Anexamination includes a review of the accounting records kept by the charity and a comparison of the accounts presentedwith those records. It also includes consideration of any unusual items or disclosures in the accounts, and seekingexplanations fiom you as trustees concerning any such matters. The procedures undertaken do not provide all theevidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a'true and fair view ' and the report is limited to those matters set out in the statements below.

Independent examiner's statementIn connection with my examination, no matter has come to my attention:

(I) which gives me reasonable cause to believe that, in any material respect, the requimments

to keep accounting records in accordance with Section 386 and 387 of the Companies Act 2006; andto prepare accounts which accord with the accounting records, comply with the accounting requirementsof Sections 394 and 395 of the Companies Act 2006 and with the methods snd principles of theAccounting and Reporting by Charities: Statement of Recommended Practice applicable to charitiespreparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and

Republic of Ireland (FRS 102) (effective 1 January 2015)

have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts tobe reached.

Pauline B McAlpine FCASBM Associates Limited24 Wandsworth RoadLondonSW8 2JW

Page 6


STATEMENT OF FINANCIAL ACTIVITIESFOR THE YEAR ENDED 31 AUGUST 2017

INCOME AND ENDOWMENTS FROMDonations and legaciesCharitable activitiesCharitable activities

Total

Notes

2017Unrestricted

fund

168,143

13443

181486

2016Total funds

133,844

11,172

145,016

EXPENDITURE ONRaising fundsRaising donations and legacies 32,499 15,724

32,499 15,724

Charitable activitiesCharitable activities ~141 08 154,012

Total 173,807 169,736

NET INCOME/(EXPENDITURE)

RECONCILIATION OF FUNDS

Total funds brought forward

7+79 (24,720)

78,720

TOTAL FUNDS CARRIED FORWARD 61 79 54,000

CONTINUING OPERATIONSAll income and expenditure has arisen from continuing activities.

The notes form part of these financial statements

Page 7


STATEMENT OF FINANCIAL POSITIONAT 31 AUGUST 2017

Notes

2017 2016Unrestricted Total funds

fundf

CURRENT ASSETSCash at bank and in hand 65,460 58, 133

CREDITORSAmounts falling due within one year (3,881) (4,133)

NET CURRENT ASSETS 61,579 54,000

TOTAL ASSETS LESS CURRENTLIABILITIES 61,579 54,000

NKT ASSETS 61,579 54,000

FUNDSUnrestricted funds

TOTAL FUNDS

61,579

61,579

54,000

54,000

The charitable company is entitled to exemption &om audit under Section 477 of the Companies Act 2006 for the yearended 31 August 2017.

The members have not required the charitable company to obtain an audit of its financial statements for the year ended

31 August 2017 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the

Companies Act 2006 and

(b) preparing financial statements which give a true and fair view of the smte ofaffairs of the charitable company as atthe end of each financial year and of its surplus or deficit for each financial year in accordance with the

requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act2006 relating to small charitable companies.

The financial statements were approved by the Board of Trustees on .....).8.~........................ and were signed on itsbehalf by:

Qt'C H D ond -Trustee

The notes form part of these financial statements

Page 8


NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 AUGUST 2017

ACCOUNTING POLICIES

Basis of preparing the financial statementsThe financial statements of the charitable company, which is a public benefit entity under FRS 102, have beenprepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statemeat ofRecommended Practice applicable to charities preparing their accounts in accordance with the FinancialReporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 lanuary 2015)', FinancialReporting Standard 102 ihe Financial Reporting Standard applicable in the UK and Republic of Ireland'ESFA,the and the Companies Act 2006. The fmancial statements have been prepared under the historical costconvention.

Financial reporting standard 102 - reduced disclosure exemptionsThe charity has taken advantage of the following disclosure exemptions in preparing these financial statements, aspermitted by FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland':

the requirements of Section 7 Statement of Cash Flows;the requirement of Section 3 Financial Statement Presentation paragraph 3.17(d);the requirements of Section 11 Financial Instruments paragraphs 11.41(b), 11.41(c), 11.41(e), 11.41(1),11.42, 11.44,11.45, 11.47, 11.48(s)(iii), 11.4S(a)(iv), 11.48(b) and 11.48(c);the requirements of Section 12 Other Financial Instruments paragraphs 12.26, 12.27, 12.29(a), 12.29(b)snd 1229A.

IncomeAll income is recognised in the Statement ofFinancial Activities once the charity has entitlement to the funds, it isprobable that the income will be received and the amount can be measured reliably.

ExpenditsreLiabilities are recognised as expenditure ss soon as there is a legal or constructive obligation committing thecharity to that expenditure, it is probable that a transfer ofeconomic benefits will be required in settlement and theamount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has beenclassified under headings that aggregate all cost related to the category. Where costs cannot be directly attributedto particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assetsTangible fixed assets are stated at cost less depreciation.

The costs of minor additions or those costing below f500 are not capitalised. Depreciation is provided at ratescalculated to write off the cost of each asset over its expected useful life, which in all cases is estimated at fouryears. A full year's depreciation is charged in the year each asset is acquired.

TaxationThe charity is exempt fiom Income snd Capital Gains Tax on its charitable activities but not from VAT.Irrecoverable VAT is included in the Statement of Financial Activities within the cost of those items to which itrelates.

Fusd accoantingUnrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds csn only be used for particular restricted purposes within the objects of the charity. Restrictionsarise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature snd purpose ofeach fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefitsThe charitable company contributes to employees' defined contribution pension plans. Contributions areincluded the in Statement ofFinancial Activities as they fall due.

Page 9


NOTES TO THE FINANCIAL STATEMENTS - CONTINUEDFOR THE YEAR ENDED 31 AUGUST 2017

2. DONATIONS AND LEGACIES Unrestrictedf

2017f

2016f

Gilt aid

Grants and donations11,497

156,64511,497

156,6452,270

131,574

168,143 168143 133.844

Grants received, included in the above, are as follows:

John Kent LegacyRex Chester

The Band Trust

Allchurches Charitable Trust

PF Charitable Trust

The Bisgood Charitable TrustGarfield Weston

Alice Ellen Cooper-Dean Charitable Foundation

The Bernard Sunley Charitable TrustMr P Mason

The Sandra Charitable Trust

Stewards Laing Company

The J W Laing Trust

The Swire Charitable TrustKiienwort Benson CHK Charities

The Tony Rampton Trust

The Charles S French Charitable Trust

The Eveson Charitable Trust

The Shanly Foundation

Local Giving

The Albert Hunt TrustThe Lord Austin Trust

The Paul Luna-Rockliife Trust

Mrs R P Tindali's Charitable TrustThe Walter Guinness Charitable TrustThe Englefield Charitable Trust

Mr dt Mrs Ogilvie-Thompson

The Astor Foundation

The A S Charitable Trust

The Barker-Mill Foundation

The Church of the Good Shepherd

The Edgar Millwsrd Charitable Trust

D C Fellows

Sir Jeremiah Colman Gift Trust

Chairman, Mission Support Group St Johns Church

Mrs M Wightman

Grants and other donations between f.l 00-f1,000Contributions to salaries (restricted funds)

Other small donations

45,000

20,00010,00010,00010,000

5,000

5,000

5,0005,0003,0002,8132,0002,0002,000L2491,0001,0001,0001,0001,000

5,725143503,608

45,000

20,00010,00010,00010,000

5,000

5,000

5,0005,0003,0002,8132,0002,0002,00014491,0001,0001,0001,0001,000

5,72514/503,608

50,000

10,000

10,000

5,0005,0005,0005,0005,000

1,875

1,0001,000

1,0002,0002,0001,5001,5001,0001,0001,000

1,0001,0001,0001,0006,563

10,625511

Total 156,645 156,645 131,574

Page 10



3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 August 2017 nor for the year ended31 August 2016.

Trustees' expensesThere were no trustees' expenses paid for the year ended 31 August 2017 nor for the year ended 31 August 2016.

STAFF COSTS

Wages and salariesSocial security costsOther pension costs

The average monthly number of employees during the year was as follows:

Chief executiveOutreach work

2017f

129dt113r5513411

136,673

201715

2016f

134,8524,285

~3089

~142 26

20161

6

No employees received emoluments in excess of f60,000.

There are 12 part-time Local Development Officers who represent the equivalent of5 full-time employees.

COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Comparatives for the Statement of Financial Activities are materially all in relation to unrestricted funds.

Page 11



6. TOTAL RESOURCES EXPENDED

cBco

Cl

C0

oU

tCO

Cl

Cl

t0t

CC

0

Total Resources ExpendedStaff costs

8 f

11309 125,463 136,672 142,226

Marketing dr promotion

Fund raising

Travel, subsistence dt hospitality

Communications dt oflice expenses

Meeting expenses

insurance 41 bank charges

Audit fees th annual mport

Training recruitment dt evaluation

Other professional fees

2,113

20,520416 6,566354 3,538

1326

1,117

900

2,113

20,520

6,9823,892

1,226

1,117

900

384

2273

2,628

8,2913,796

2,873

1,075

900

4,480

1,194

32 499 141 308 173,807 169,736

7. TANGIBLE FIXED ASSETS

COSTAt 1 September 2016 and 31 August 2017

Computerequipment

6

9,863

DEPRECIATIONAt 1 September 2016 and 31 August 2017

NET BOOK VALUEAt 31 August 2017

At 31 August 2016

Page 12



8. CREDITORS: AMOUNTS FAI LING DUE WITHIN ONE YEAR

Trade creditorsSocial security and other taxesOther creditorsAccrued expenses

20178

(1)14211,671

990

3dntl

2016

1,5071,636

990

4,133

9. MOVEMENT IN FUNDS

Unrestricted fundsGeneral fund

At 1.9.16

54,000

Netmovement in

funds

7479

At 31.8.17

61+79

TOTAL FUNDS 54,000 7 79 ~61 579

Net movement in funds, included in the above are as follows:

Unrestricted fundsGeneral fund

Incomingresources

Iglr386

Resourcesexpended

(173,807)

Movement infunds6

7,579

TOTAL FUNDS ~181 86 ~173,807) ~7579

10. RELATED PARTY DISCLOSURES

There were no related party ~ons for the year ended 31 August 2017.

11. LEGAL STATUS

The company is limited hy guarantee and does not have share capitah In the event of the company being dissolved

each member is required to contribute a maximum of $1 towards the costs of dissolution and the liabilities

incurred while the contributor was a member.

Page 13

Documents

REGISTERED 03913462 and REGISTERED 1084226