The Division of Clearing and Intermediary Oversight issued an interpretation that a charitable foundation would not be a commodity pool, and that its directors would not be commodity pool operators, if the foundation traded commodity interests. This interpretation was based on, among others, representations that: (1) no current or future donor to the foundation will be entitled to receive any of the assets, net earnings, income or profits of the foundation; and (2) no (other) charitable organization has any entitlement, on an annual or other basis, to a contribution from the foundation.