NOT A SEPARATE TRUST. The Fund shall be a component part of the Community Foundation. All money and property in the Fund shall be held as general assets of the Community Foundation and not segregated as trust property of a separate trust.
NOT A SEPARATE TRUST. The Fund shall be a component part of the Foundation. All money and property in the Fund shall be held as general assets of the Foundation and not segregated as trust property of a separate trust, provided that for purposes of determining the share of the Foundation's earnings allocable to the Fund and the value of the principal of the Fund, the interest of the Fund in the general assets of the Foundation shall be a percentage determined by dividing the Fund balance by the then value of the total assets of the Foundation, such percentage interest being subject to adjustment at the time of each addition to or reduction of the assets of the Foundation.
NOT A SEPARATE TRUST. The Fund shall be a component part of the Legacy Foundation. All money and property in the Fund shall be held as general assets of the Legacy Foundation and not segregated as trust property of a separate trust.
NOT A SEPARATE TRUST. The Fund shall be a component part of the Foundation’s investments. All money and property in the Fund shall be held as general assets of the Foundation and not segregated as trust property of a separate trust; provided that for purposes of determining the share of the Foundation’s earnings allocable to the Fund and the value of the principal of the Fund, the interest of the Fund in the general assets of the Foundation shall be a percentage determined by dividing the total Fund, by the then value of the total investment assets of the Foundation, such percentage interest being subject to adjustment at the time of each addition to or reduction of the assets of the Foundation. The receipts and disbursements of this Fund, however, shall be accounted for separately and apart from those of other gifts to the Foundation.
NOT A SEPARATE TRUST. The Fund shall be subject to the Articles of Incorporation and Bylaws of TSDF. All money and property in the Fund shall be assets of TSDF, and not a separate trust, and shall be subject only to the control of TSDF. Pursuant to Treasury Regulations, the Board of Governors of TSDF has the power “to modify any restriction or condition on the distribution of funds for any specified charitable purpose or to any specified organization if, in the sole discretion of the Board of Governors, such restriction or condition becomes unnecessary, incapable of fulfillment, or inconsistent with the charitable needs of the community or area served.” Treas. Reg. §1.170A-9(e)(11)(v)(B) and (E).
NOT A SEPARATE TRUST. All property in the SCHOLARSHIP shall be a component part of the FOUNDATION as defined in Section 1.170A-9(e)(11) of the Treasury regulations and not a separate trust or nonprofit corporation.
NOT A SEPARATE TRUST. The assets of the Fund will be the assets of the Marietta Community Foundation, Inc. and not a separate trust. The Fund shall be organized and administered so that the Federal Income Tax status of the Marietta Community Foundation, Inc. as a public charitable organization under Section 501(c)(3) of the Internal Revenue Code, as amended, will not be adversely affected. This Agreement will be interpreted in a manner consistent with the Federal Income Tax provisions and regulations that govern the operation of the Foundation, and it may be amended from time to time by the Foundation’s Board to conform to such provisions and regulations.
NOT A SEPARATE TRUST. The Fund shall be a component fund of the Foundation. All money and property in the Fund shall be held as general assets of the Foundation and not segregated as trust property of a separate trust; Foundation, or charitable entity.
NOT A SEPARATE TRUST. The Fund shall be subject to the Articles of Incorporation and Bylaws of Foundation. All money and property in the Fund shall be assets of Foundation and not a separate trust and shall be subject only to the control of Foundation. Pursuant to Treasury Regulations, the Board of Directors of Foundation has the power "to modify any restriction or condition on the distribution of funds for any specified charitable purpose or to any specified organization if, in the sole discretion of the Board of Directors, such restriction or condition becomes unnecessary, incapable of fulfillment, or inconsistent with the charitable needs of the community or area served." Treasury Regulation §1.170A-9(e)(11)(v)(B) and (E).
NOT A SEPARATE TRUST. The Fund shall be subject to the Articles of Incorporation and Bylaws of TSDF. All money and property in the Fund shall be assets of TSDF, and not a separate trust, and shall be subject only to the control of TSDF. Pursuant to Treasury Regulations, the Board of Governors of The San Diego Foundation has the power “to modify any restriction or condition on the distribution of funds for any specified charitable purpose or to any specified organization if, in the sole discretion of the Board of Governors, such restriction or condition becomes unnecessary, incapable of fulfillment, or inconsistent with the charitable needs of the community or area served.” Treas. Reg. §1.170A- 9(f)(11)(v)(B) and (E).
