Inactive Funds. The Fund shall be deemed inactive if no recommendations are made with respect to distributions from the fund for a period of two years. The Community Foundation shall give written notice to the Advisor. The Donor or Advisor shall have 90 days from the date of the written notice to make a recommendation with respect to a distribution from the Fund. If the Donor or Advisor fails to make a recommendation within the 90-day period, the Community Foundation shall terminate the Fund and assets of the Fund shall be distributed to the permanent endowment fund of the Community Foundation.
Appears in 4 contracts
Samples: Donor Advised Fund Agreement, Fund Agreement, Fund Agreement
