Fund Inactivity Sample Clauses
Fund Inactivity. In accordance with accepted community foundation standards, unless defined alternatively in a Fund Agreement, a Fund is classified as inactive after three years of inactivity. If a Fund receives no gifts and no grant recommendations are made for three years, The Community Foundation staff will make a reasonable effort to contact the Fund Advisor by telephone, email, and/or certified mail. If the Fund Advisor does not respond to the contact effort within three months after the initial contact attempt, the Fund balance will be transferred to The Community Foundation’s Fund for Greater Washington Endowment. Outreach and closure will be documented in the Fund’s record.
Fund Inactivity. If a fund advisor is no longer willing or able to advise the fund’s distribution, and no successor advisor is named, the community foundation’s board of directors will assume responsibility for grantmaking. Inactivity is when no grant recommendations or gifts are received for a period of two consecutive years and the fund advisor(s) cannot be contacted. The community foundation’s staff will attempt to contact the fund advisor(s) at least three times via certified mail and allow 30 days for a response. If contact cannot be made, the community foundation’s board of directors will advise an annual payout to support the community grantmaking program in accordance with the community foundation’s spending policies. If two more years pass with no contact from the advisor, the fund in its entirety will be transferred to the Community Endowment Fund. A fund must have inactivity for a total of four years before being transferred to the Community Endowment Fund.
Fund Inactivity. In accordance with accepted community foundation standards, unless defined alternatively in a Fund Agreement, a Fund is classified as inactive after two years of inactivity. If a Fund receives no gifts and no grant recommendations are made for two years, The Community Foundation staff will attempt to contact the Fund Advisor at least three times, by telephone and/or certified mail. If contact cannot be made, the Board of Trustees will recommend an annual payout from the Fund in accordance with The Community Foundation’s spending policy. If an additional year passes and the Fund Advisor is not in contact with The Community Foundation, the Fund balance will be transferred to The Community Foundation’s endowment fund.
Fund Inactivity. If there has been no fund activity to reach the endowed level other than earnings posting in a consecutive 5 year period, the Piedmont Technical College Foundation Board, in consultation with the donor (if available), will review the account and may distribute all remaining funds to a like program/department endowed scholarship fund to apply towards the principal of that fund with the annual Endowed scholarships guidelines format earnings disbursed according to the guidelines of that fund. If a like program/department endowed scholarship fund does not exist, the Board may distribute all remaining funds to the Unrestricted Endowed Fund to apply towards the principal of that fund with the annual earnings disbursed according to the Board's direction.
Fund Inactivity. If a fund adviser has not recommended grants from a fund for 3 consecutive years and has not responded to the foundation’s attempts to contact the adviser at least 3 times for a grant recommendation, the fund will be closed and the proceeds transferred to either a) our Catholic Community Endowment fund, which is a general fund benefiting the greatest needs of charitable entities in the Archdiocese of Los Angeles or b) another fund at CCF-LA that may be closely aligned with the initial donor’s intentions.