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      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
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        <FormAndLineReferenceDesc>PART I, LINE 2:</FormAndLineReferenceDesc>
        <ExplanationTxt>THE FUND IS PRIMARILY ENGAGED IN MAKING SCHOLARSHIP GRANTS TO STUDENTS OF ESTONIAN DESCENT IN THE UNITED STATES AND ELSEWHERE, FOR PURPOSE OF GRADUATE OR UNDERGRADUATE STUDY. ALL APPLICATIONS FOR SCHOLARSHIP AID ARE SUPPORTED BY TRANSCRIPTS OF RECENT ACADEMIC WORK AS WELL AS BY AT LEAST TWO LETTERS OF RECOMMENDATION. ONE OF WHICH MUST BE FROM THE INSTITUTION OF LEARNING MOST RECENTLY ATTENDED. APPLICATIONS ARE REVIEWED AND PASSED UPON BY A COMMITTEE ON SCHOLARSHIPS. FINAL DETERMINATION IS BASED ON BOTH ACADEMIC EXCELLENCE AND FINANCIAL NEED. INSOFAR AS THIS CAN BE DETERMINED. APPLICANTS RELATED TO ANY PERSON OR CORPORATION HAVING AN INTEREST IN THE FUND ARE AUTOMATICALLY DISQUALIFIED.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART I, LINE 2:</FormAndLineReferenceDesc>
        <ExplanationTxt>THE FUND IS PRIMARILY ENGAGED IN MAKING SCHOLARSHIP GRANTS TO STUDENTS OF ESTONIAN DESCENT IN THE UNITED STATES AND ELSEWHERE, FOR PURPOSE OF GRADUATE OR UNDERGRADUATE STUDY. ALL APPLICATIONS FOR SCHOLARSHIP AID ARE SUPPORTED BY TRANSCRIPTS OF RECENT ACADEMIC WORK AS WELL AS BY AT LEAST TWO LETTERS OF RECOMMENDATION. ONE OF WHICH MUST BE FROM THE INSTITUTION OF LEARNING MOST RECENTLY ATTENDED. APPLICATIONS ARE REVIEWED AND PASSED UPON BY A COMMITTEE ON SCHOLARSHIPS. FINAL DETERMINATION IS BASED ON BOTH ACADEMIC EXCELLENCE AND FINANCIAL NEED. INSOFAR AS THIS CAN BE DETERMINED. APPLICANTS RELATED TO ANY PERSON OR CORPORATION HAVING AN INTEREST IN THE FUND ARE AUTOMATICALLY DISQUALIFIED.</ExplanationTxt>
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        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION A, LINE 2</FormAndLineReferenceDesc>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 11</FormAndLineReferenceDesc>
        <ExplanationTxt>DRAFT COPY OF THE 990 WILL BE PRESENTED AT THE NEXT BOARD MEETING FOR APPROVAL.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION C, LINE 19</FormAndLineReferenceDesc>
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</Return>