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        <EINOfRecipient>113317234</EINOfRecipient>
        <IRCSection>501(C)(3)</IRCSection>
        <AmountOfCashGrant>400000</AmountOfCashGrant>
        <PurposeOfGrant>TO PROVIDE ACCESS TO CAPITAL TO WOMEN-OWNED BUSINESSES THROUGH THE TORY BURCH FOUNDATION MICROLOAN FUND</PurposeOfGrant>
      </RecipientTable>
      <RecipientTable>
        <RecipientNameBusiness>
          <BusinessNameLine1>WOMEN'S INITIATIVE FOR SELF EMPLOYMENT</BusinessNameLine1>
        </RecipientNameBusiness>
        <AddressUS>
          <AddressLine1>1398 VALENCIA ST</AddressLine1>
          <City>SAN FRANSISCO</City>
          <State>CA</State>
          <ZIPCode>94110</ZIPCode>
        </AddressUS>
        <EINOfRecipient>943081525</EINOfRecipient>
        <IRCSection>501(C)(3)</IRCSection>
        <AmountOfCashGrant>50000</AmountOfCashGrant>
        <PurposeOfGrant>TO SUPPORT ENTREPRENEURSHIP TRAINING AND EDUCATION FOR LOW-INCOME WOMEN IN NEW YORK CITY</PurposeOfGrant>
      </RecipientTable>
      <RecipientTable>
        <RecipientNameBusiness>
          <BusinessNameLine1>RISING TIDE CAPITAL</BusinessNameLine1>
        </RecipientNameBusiness>
        <AddressUS>
          <AddressLine1>334 MLK DRIVE</AddressLine1>
          <City>JERSEY CITY</City>
          <State>NJ</State>
          <ZIPCode>07305</ZIPCode>
        </AddressUS>
        <EINOfRecipient>113720098</EINOfRecipient>
        <IRCSection>501(C)(3)</IRCSection>
        <AmountOfCashGrant>15000</AmountOfCashGrant>
        <PurposeOfGrant>TO SUPPORT THE RISING TIDE CAPITAL START SOMETHING CHALLENGE GALA</PurposeOfGrant>
      </RecipientTable>
      <TotalNbrOf501C3AndGovtGrants>3</TotalNbrOf501C3AndGovtGrants>
      <TotalNbrOfOtherOrganizations>0</TotalNbrOfOtherOrganizations>
      <Form990ScheduleIPartIV>
        <Explanation>GRANTEES ARE REQUIRED TO REPORT TO THE FOUNDATION, ENUMERATING SPECIFIC BENCHMARKS SUCH AS INCREASED REVENUE FOR ENTREPRENEURS AND JOBS CREATED.</Explanation>
      </Form990ScheduleIPartIV>
    </IRS990ScheduleI>
    <IRS990ScheduleO documentId="RetDoc1044400001">
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION A, LINE 2</ReturnReference>
        <Explanation>ROBERT ISEN (TREASURER) IS THE BROTHER OF TORY BURCH (PRESIDENT) AND JAMES ROBINSON (SECRETARY)</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 11</ReturnReference>
        <Explanation>EACH MEMBER OF THE BOARD REVIEWS THE 990 PRIOR TO FILING.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 12C</ReturnReference>
        <Explanation>EACH BOARD MEMBER IS REQUIRED TO DOCUMENT COMPLIANCE WITH POLICY</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION C, LINE 19</ReturnReference>
        <Explanation>THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE BY CONTACTING THE ORGANIZATION'S OFFICES AND WHICH TIME APPROPRIATE ACCESS WILL BE PROVIDED.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>FINANCIALS ARE SENT TO BOARD MEMBERS DIRECTLY, QUARTERLY FROM ACCOUNTANTS THEN REVIEWED AND DISCUSSED IF NEEDED AT SUBSEQUENT BOARD MEETINGS. YEAR END FINANCIAL STATEMENTS ARE SENT TO THE BOARD AND APPROVED BEFORE ISSUANCE. ANY QUESTIONS ARE DIRECTED TO THE AUDITORS.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>TORY BURCH, PRESIDENT, HAS AN OWNERSHIP INTEREST IN TORY BURCH LLC</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>THE EXECUTIVE DIRECTOR OF TORY BURCH FOUNDATION, INC. IS AN EMPLOYEE OF TORY BURCH LLC. HER TIME IS DONATED BY TORY BURCH LLC.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
  </ReturnData>
</Return>