The Achievement Foundation, Inc. was formed almost 60 years ago to receive grants, gifts, and bequests for the giving of financial aid for charitable, scientific or educational programs to groups or clubs of boys and girls for the purpose of encouraging them in productive enterprises. The Foundation is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code. As such, it is exempt from state and federal income taxes on income related to its tax-exempt purpose and contributions to the Foundation are deductible as charitable contributions for income tax purposes. The Foundation has had a long-standing (albeit non-exclusive) relationship with Junior Achievement, Inc. (JA) through contributions and providing loans to local JA areas in need of financial assistance. Over the past few years, the Foundation has broadened its programs and activities to include scholarships and grants. Four-year scholarships are awarded annually to qualifying students selected by the Foundation from a list of candidates provided by Junior Achievement, Inc. Grants are made to JA areas and other organizations offering programs that provide opportunities for young people to develop a better understanding of the free enterprise system.