Common use of Management of Fund Clause in Contracts

Management of Fund. The Foundation shall hold, manage, invest and reinvest the Fund, shall collect the income and shall pay and disburse the net income and principal therefore exclusively for general charitable uses and purposes, in accordance with the provisions specified in the Articles of Incorporation of the Foundation. The Articles of Incorporation have been adopted by the Board of Directors of the Foundation, and their provisions, as they may be amended from time to time, are hereby incorporated by reference and conclusively assented to and adopted. The phrase “charitable uses and purposes” shall be defined as all of those activities, uses and purposes described in Section 501(c)(3) of the Internal Revenue Code of 1986 (the “Code”).

Appears in 6 contracts

Samples: Instrument of Gift, Agreement, www.calfund.org

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Management of Fund. The Foundation shall hold, manage, invest and reinvest the Fund, shall collect the income and shall pay and disburse make distributions from the net income and principal therefore Fund exclusively for general charitable uses and purposes, in accordance with the provisions specified in the Articles of Incorporation of the Foundation. The Articles of Incorporation have been adopted by the Board of Directors of the Foundation, and their provisions, as they may be amended from time to time, are hereby incorporated by reference and conclusively assented to and adopted. The phrase “charitable uses and purposes” shall be defined as all of those activities, uses and purposes described in Section 501(c)(3) of the Internal Revenue Code of 1986 (the “Code”).

Appears in 2 contracts

Samples: California Community Foundation Nonprofit, cnycf.org

Management of Fund. The Foundation shall hold, manage, invest invest, and reinvest the Fund, shall collect the income and shall pay and disburse make distributions from the net income and principal therefore Fund exclusively for general charitable uses and purposes, in accordance with the provisions specified in the Articles of Incorporation of the Foundation. The Articles of Incorporation have been adopted by the Board of Directors of the Foundation, and their provisions, as they may be amended from time to time, are hereby incorporated by reference and conclusively assented to and adopted. The phrase “charitable uses and purposes” shall be defined as all of those activities, uses and purposes described in Section 501(c)(3) of the Internal Revenue Code of 1986 (the “Code”).

Appears in 1 contract

Samples: longbeachcf.org

Management of Fund. The Foundation shall hold, manage, invest and reinvest the Fund, shall collect the income and shall pay and disburse the net income and principal therefore exclusively for general charitable uses and purposes, in accordance with the provisions specified in the Articles of Incorporation of the Foundation. The Articles of Incorporation have been adopted by the Board of Directors of the Foundation, and their provisions, as they may be amended from time to time, are hereby incorporated by reference and conclusively assented to and adopted. The phrase "charitable uses and purposes" shall be defined as all of those activities, uses and purposes described in Section 501(c)(3501 (c)(3) of the Internal Revenue Code of 1986 (the "Code").

Appears in 1 contract

Samples: Agreement

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Management of Fund. The Foundation shall hold, manage, invest and reinvest the Fund, and shall collect the income and shall pay and disburse the net income and principal therefore thereof exclusively for general charitable uses and purposes, purposes in accordance with the provisions specified in the Articles of Incorporation of the Foundation. The Articles of Incorporation of the Foundation have been adopted by the Board of Directors of the Foundation, and their provisions, as they may be amended from time to time, are hereby incorporated by reference and conclusively assented to and adopted. The phrase “charitable uses and purposes” shall be defined as all of those activities, uses and purposes described in Section 501(c)(3) of the Internal Revenue Code of 1986 (the “Code”).

Appears in 1 contract

Samples: Agency Endowment

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