Distributions from the Fund. The Agency is the beneficiary of the Fund. Distributions from the Fund shall be in accordance with the spending policy established by the Board of Directors of the Foundation. Distributions shall be made at least annually, or more frequently, as the parties may from time to time agree.
Distributions from the Fund. All grantees receiving distributions from the Fund will receive correspondence in a form mutually agreeable to
Distributions from the Fund. The Foundation may make annual distributions from the Fund if so requested. Absent the establishment of an annual distribution, grants from the fund will be made at the MPRPD’s request by submitting in writing a copy of a resolution authorizing such action approved by a majority of the directors of the MPRPD’s board. Distributions from the Fund are for the MPRPD’s discretionary use, so long as such uses are legal and do not jeopardize the agency’s status with the IRS.
Distributions from the Fund. (a) Consistent with the provisions of Section 9 hereof, the Trustee is authorized to pay from the Fund reasonable expenses of the Trustee, including fees of accountants and legal counsel to the Trust, and the Trustee's compensation.
(b) The Trustee shall make any distribution required pursuant to this Trust Agreement by mailing its check or other evidence of payment (less applicable withholdings) to the person to whom such distribution or payment is to be made at such address as was last furnished to the Trustee or, if agreeable to the Trustee and the Primary Sponsor and the affected participant and so directed in a written notice to the Trustee by the Primary Sponsor or affected participants, by crediting the account of such person or by transferring funds to such person's account by bank or wire transfer. The Trustee shall not be required to make any investigation to determine the whereabouts or mailing address of any person. If the person to receive a distribution can not be found, the Trustee shall hold payment or deposit same in a bank (including the Trustee, if a financial institution is serving as such) for the credit of that person without liability for interest thereon. If a check or other evidence of payment of the benefit hereunder has been mailed to the last address of the person furnished the Trustee and is returned unclaimed, the Trustee shall notify the Primary Sponsor and shall discontinue further payments to the payee until it receives instructions from the Primary Sponsor.
(c) The Trustee shall not be bound by any instruction, direction or notice unless and until it has been received in writing by the Trustee and may rely upon any instruction, direction or notice of a continuing nature until the Trustee receives a writing which revokes that instruction, direction or notice. The Trustee may without liability assume that any such instruction, direction or notice is genuine unless it has actual knowledge or, after receiving notification of a problem, has reasonably determined that the instruction, direction or notice is not genuine.
(d) The Trustee shall not be responsible for the application of any assets held as part of the Fund which have been distributed pursuant to the Plan and the Trust Agreement.
Distributions from the Fund. While the Grantor(s) is living and has capacity, the Grantor(s) may make written recommendations to the Foundation as to the use or application of the Distributable Amount only. After the death or incapacity of the surviving Grantor(s), the 1 Principal expenditure may be offered for funds established with $250,000 or more. Grantor’s/Grantors’ children, , as Successor Advisor2, may make recommendations as to the use or application of the Distributable Amount only during their lifetimes. All recommendations are advisory and must be approved by the Foundation Committee. [Revise if no Successor Advisor.]
Distributions from the Fund. The Foundation shall, from time to time, make distributions from the Fund of principal and income to qualified charitable organizations, as that term is defined in the Policies. For a donor advised fund that is established as an endowment fund, only the earnings and income generated by the Fund will be available for distribution. For those funds, the Foundation will make distributions in accordance with the Spending Policy it adopts from time to time. The Foundation has specifically adopted the provisions of the Florida Uniform Prudent Management of Institutional Funds Act (“UPMIFA”). Accordingly, the Foundation will administer all donor advised funds that are set up as an endowment as a UPMIFA fund and make annual distributions from the Fund in such amounts as may be required under its Spending Policy. Should the donor or advisor to the Fund wish that any gik made or distributed from the Fund be made as an anonymous gik, the donor or advisor may instruct the Foundation to honor any applicable confidentiality request. The Fund advisors may make grant recommendations in accordance with the Policies. Distributions shall not be made to fulfill a legally binding pledge, to other than a qualified charitable organization, or for lobbying, political contributions, political campaign activity purposes or to pay for goods and services received by any private person. If no distributions have been made from the Fund for a period of two full calendar years, the Foundation will contact the Donor or advisor and request that a grant request be made. If the Fund remains inactive and no distributions have been made by the end of the third calendar year xxxx the Fund has been established, the Foundation may convert the Fund to an endowment fund, with distributions made to the Residuary Beneficiaries named by the Donor or a qualified charity designated in the Policies, including, but not limited to, the Foundation.
Distributions from the Fund. The Founder may choose to make this Donor Advised Fund endowed (permanent), which limits the amount available for annual grant distributions according to CFAAC’s annual spending policy. The current spend rate is 4%. Select whether this is an endowed fund: This is an endowed fund. Grant distributions are limited to CFAAC’s annual spending policy. This is a non-endowed fund. Grant distributions may be made from the entire balance of this Fund’s assets. The undersigned acknowledge that an endowed fund will be managed using a total return concept of endowment management based on CFAAC's spending policy rate as adjusted from time to time by the Board of Trustees.
Distributions from the Fund. The Agency is the beneficiary of the Fund. Net Income of the Fund shall be disbursed for broad general charitable uses and purposes of the Agency. It is the desire of the Agency that the Fund be considered an endowment. “Net Income” for the purpose of this agreement shall be defined as the spending policy for permanent funds established from time to time by the Foundation’s Board of Directors.
Distributions from the Fund. The Foundation will make distributions from the Fund based on the criteria in EXHIBIT C. Distributions from the Fund are for the purpose of increasing recreational, environmental, and cultural education access as noted in Section 1, above, so long as such uses are legal, do not conflict with any parameters associated with said funds, and do not jeopardize MPRPD’s status with the IRS or enabling legislation.
Distributions from the Fund. The Foundation shall make distributions from the Fund in accordance with a Spending Policy adopted by the Foundation’s Board of Director’s (the “Board”) for funds of the Foundation. The Spending Policy states: The XxXxxxxxx County Community Foundation Endowment Fund spending rate will be set at a level that can reasonably be expected to allow for real growth of endowment principal over time given the asset allocation policy and long-term performance results. The Finance/Investment Committee will recommend a minimum spending rate subject to board approval regardless of current year fund performance, subject to minimum requirements and donors instruction.
