The Board of Trustees of Callaway Foundation, Inc. authorized new grants during the fiscal year ended September 30, 2002, in the total net amount of $3,429,102 and disbursed during the same period $10,768,709 for various religious, educational, and charitable purposes.

During the year, grants for religious purposes amounted to $784,823. A total of $212,620 was approved for grants for educational purposes, and the balance of $2,431,659 was contributed for charitable purposes.

A complete listing of all grants and distributions made during 2002 may be found here: