THE CORPORATION'S IS ESTABLISHED TO PROVIDE GRANT FUNDS FOR SCHOLARSHIPS FOR SCHOOLS AND COLLEGES FOR THE EDUCATION OF PRIESTS, DEACONS, SISTERS, AND NUNS. IN ADDITION, THIS CORPORATION WILL OFFER TAX-FREE LOANS TO THOSE ORDAINED IN THE ROMAN CATHOLIC FAITH AND TO PROMOTE CHARITIES SPONSORED BY THE ARKANSAS STATE COUNCIL KNIGHTS OF COLUMBUS AND ITS SUBORDINATE COUNCILS.