The New Africa Fund, Inc. (the CORPORATION) is a grant-making, non-operating foundation that was created to assist organizations in Africa withprojects to benefit communities and residents. The Board of Directors of the Corporation will determine organizations and projects to be assisted. TheBoard of Directors and the officers of the Corporation will donate so much of the net income earned by the Corporation and the principals thereof asthey deem appropriate to qualify as an Internal Revenue Code (Code) Section 501(c)(3) charitable organization and, to the extent it is a privatefoundation, to avoid tax under Code Section 4942 for failure to satisfy the Corporation's annual minimum distribution requirement. The initial projectswill be with a locally registered nongovernmental organization (NGO) in Togo called CECODRI. Some previous projects by CECODRI include renovationsto the public library in Pagouda, Togo and repair and installation of water pumps to provide potable water to the resi