Please refer to The Charitable Giving Guide for further information. If the Donor desires fundraising activities to be conducted in connection with the Gift Fund established under this Agreement, then prior approval of Foundation Staff and additional documentation are required. If fundraising activities have been discussed with and approved for the Gift Fund, then an authorized Foundation Staff member should check the box and initial below. □ Fundraising approved (please initial) Addenda Please indicate additional addenda attached to this Agreement, if any. Are any addenda (other than Addendum I – Gift Fund Investment Recommendation Form) attached to this Agreement? □ Yes □ No If so, please list here: Notes Use this section to provide any information not addressed elsewhere in this Agreement or to complete any sections of the Agreement where space was otherwise too limited. Additional Provisions Your signature on the following page acknowledges that you have read, understand and agree to the provisions below. Protection of Tax-Exempt Status. The undersigned agree to comply with any written direction by the Foundation to cease recommending grants or distributions or conducting activities that may jeopardize the Foundation’s tax status or otherwise subject the Foundation or the Gift Fund to excise taxes that are applicable to donor-advised funds as defined in the Internal Revenue Code (the “Code”). Charitable Giving Guide The undersigned have received and reviewed The Charitable Giving Guide and agree to the terms thereof. Accuracy of Information The undersigned hereby certify that all information presented in connection with this Agreement is accurate to the best knowledge of the undersigned and will promptly notify the Foundation in writing of any changes. Use of Funds The Foundation will make distributions from the Gift Fund to carry out the charitable purposes of the Gift Fund in accordance with the Code. Written requests for charitable grants or distributions from the Gift Fund should be made at least ten days prior to the date when payment is to be made. The Foundation’s ability to make reimbursements to any individual for expenditures or to make a grant or distribution for any non-charitable purpose or to any non-charitable entity is generally disallowed by the Code. Advisors wishing to recommend any such reimbursement, grant or distribution should discuss it with the Foundation’s Finance & Donor Relations Team before engaging in any activity that might otherwise lead the Advisor to an expectation that any such payment would be appropriate. Please refer to The Charitable Giving Guide for more information. Endowed Gift Funds The undersigned understand and acknowledge that any Endowed Gift Fund created under this Agreement (with the Foundation or any of its affiliates or supporting organizations) is a permanent Gift Fund and that only the annual Spendable Amount will be available for distribution (as further addressed in the section hereof entitled “Spendable Amount”). Irrevocable Gifts The undersigned understand that any contribution to a Gift Fund, once accepted by the Board of Directors of the Foundation, represents an irrevocable gift to the Foundation and is not refundable. Succession Plans In the event that the undersigned shall not have designated a Succession Plan (see the section entitled Succession Plan in this agreement), then the succession plan policy and procedure contained in The Charitable Giving Guide which is incorporated by reference shall apply and the Foundation shall have no liability to any party for carrying out such policy and procedure. Service Charges The Foundation shall be entitled to receive as compensation for its services in investing, administering and distributing the assets held in the Gift Fund created hereunder the service charges set out in the Foundation’s regular schedule of compensation applicable at the time of the performance of such services; provided, however, that if the Foundation’s Custom service level applies to the Gift Fund, then the Foundation shall be entitled to receive as compensation the service charges as provided in the separate Custom Service Level Addendum attached hereto. Notice All communications required hereunder shall be in writing and shall be deemed to have been validly served, given or delivered (i) three (3) business days after deposit of same in the United States mail, designated as registered or certified mail, return receipt requested, bearing adequate postage, or (ii) on the date of delivery to such party if delivered by hand or by overnight or other similar courier and addressed to the party to be notified at the address for such party as provided in this Agreement, or to such other address as each party may designate for itself by like notice. Ownership Tools, equipment and software used by the Foundation to provide service to the Gift Fund shall remain the property of the Foundation and/or its licensors, and no right, title, license or interest in any of them is conveyed to the Gift Fund by this Agreement. Acknowledgment of Charitable Donations on Behalf of the Gift Fund The Foundation agrees that it will acknowledge to donors all contributions to the Gift Fund in accordance with the guidelines established by the Internal Revenue Service. Investments The undersigned acknowledge and agree that they have been advised by the Foundation that current IRS regulations or rulings permit Gift Fund Advisor(s) to designate investment preferences but require the Foundation to retain final discretion regarding such investments. The undersigned understand that investments will be administered in accordance with the policies of the Foundation. The undersigned acknowledge that the investments in the Gift Fund are subject to market and interest rate fluctuations. The total investment return of each investment manager is net of investment expenses. Confidentiality The Foundation agrees not to use any confidential information provided in connection with this Agreement for purposes other than those for which it was provided, without receiving prior consent. Indemnity In consideration of the Foundation’s creating a Gift Fund at the request of the undersigned individual(s) or entity and for other good and valuable consideration, the undersigned hereby agree to indemnify and hold harmless the Foundation against any liability, cost, or expense which the Foundation may incur by reason of its acting upon instructions or recommendations given to the Foundation by any of the undersigned or by persons authorized to make recommendations with regard to the Gift Fund. Severability The provisions of this Agreement are severable, and the invalidity or unenforceability of any one or more of such provisions shall not affect the validity or enforceability of the remainder of this Agreement which shall remain in full force and effect. Variance Power It is understood that the Gift Fund to be established pursuant to this agreement will be subject to the provisions of the Charter and Bylaws of the Foundation, as may be amended from time to time, including the power reserved by the Board of Directors to modify any condition or restriction on the distribution of funds if in its sole judgment (without the approval of any trustee, custodian, or agent), such restriction or condition becomes, in effect, unnecessary, incapable of fulfillment, or inconsistent with the charitable needs of the area served by the Foundation. Amendment of Agreement Subject to the provisions of the paragraph herein entitled “Variance Power,” this Agreement and any addendums attached hereto shall constitute the entire agreement of the parties and supersedes all prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof. Subject to the provisions of the paragraph herein entitled “Variance Power,” this Agreement, including any exhibits or attachments hereto, may not be amended or modified, except in a writing signed by all parties to this Agreement. Governing Law This Agreement is made subject to and shall be construed under the laws of the State of North Carolina, without giving effect to its conflict of laws principles. This Agreement may be executed in several counterparts, each of which shall be deemed an original, and all of which shall constitute one and the same instrument. Signatures By signing below, Opening Donor(s) and Advisor 1, if applicable, hereby acknowledge that they have read, understand and hereby agree to the provisions of this Agreement and that the information provided herein is accurate to the best of their knowledge. Opening Donor 1 Opening Donor 2 (if applicable) SIGNATURE SIGNATURE NAME (please print) NAME (please print) TITLE (for institutional donors) TITLE (for institutional donors) DATE DATE Advisor 1 (sign if different from Opening Donor) Foundation For The Carolinas SIGNATURE BY NAME (please print) TITLE TITLE DATE DATE SUBSIDIARY FOUNDATION BY TITLE DATE Addendum I – Gift Fund Investment Recommendation Form (See following page) investment recommendation form gift funds Foundation For The Carolinas offers fundholders diverse investment options to grow fund assets for maximum philanthropic impact. Please select one of the following investment pools based on the anticipated needs for your gift fund (please note: requested changes to your fund’s investment pool will generally take effect on the first day of the following month after your completed form is received). For additional information on FFTC’s investment pools, visit xxx.xxxx.xxx/xxxxx. Investment Pools Fund Type Pool choices for gift funds between $10,000 - $50,000 Non-Endowed Endowed Liquid Reserves Pool Low Duration Fixed Income Pool Pool choices for gift funds greater than $50,000 Liquid Reserves Pool Low Duration Fixed Income Pool Income & Growth Pool Moderate Growth Pool Passive Diversified Growth Pool Non-Endowed Diversified Long-Term Growth Pool Endowed Diversified Long-Term Growth Pool Investment Alliance Program For funds that maintain an asset balance greater than $250,000, you may recommend a specific investment manager from outside FFTC’s core investment pool to manage the fund portfolio (FFTC’s Investment Committee must approve the recommended manager): Anticipated Distribution Horizon (in years) By signing below, I (we) understand that all gift funds are subject to the policies of Foundation For The Carolinas as set forth in the Charitable Giving Guide. The investment recommendation selected above includes careful consideration of the anticipated annual spending and grantmaking plans for the gift fund. Gift Fund Name & Number: Signature of Advisor: Print name: Date: Please email the completed form to xxxxxxxxxxx@xxxx.xxx.
Appears in 2 contracts
Samples: www.fftc.org, www.fftc.org
Please refer to The Charitable Giving Guide for further information. If the Donor desires fundraising activities to be conducted in connection with the Gift Fund established under this Agreement, then prior approval of Foundation Staff and additional documentation are required. If fundraising activities have been discussed with and approved for the Gift Fund, then an authorized Foundation Staff member should check the box and initial below. □ Fundraising approved (please initial) Addenda Please indicate additional addenda attached to this Agreement, if any. Are any addenda (other than Addendum I – Gift Fund Investment Recommendation Form) attached to this Agreement? □ Yes □ No If so, please list here: Notes Use this section to provide any information not addressed elsewhere in this Agreement or to complete any sections of the Agreement where space was otherwise too limited. Additional Provisions Your signature on the following page acknowledges that you have read, understand and agree to the provisions below. Protection of Tax-Exempt Status. The undersigned agree to comply with any written direction by the Foundation to cease recommending grants or distributions or conducting activities that may jeopardize the Foundation’s tax status or otherwise subject the Foundation or the Gift Fund to excise taxes that are applicable to donor-advised funds as defined in the Internal Revenue Code (the “Code”). Charitable Giving Guide The undersigned have received and reviewed The Charitable Giving Guide and agree to the terms thereof. Accuracy of Information The undersigned hereby certify that all information presented in connection with this Agreement is accurate to the best knowledge of the undersigned and will promptly notify the Foundation in writing of any changes. Use of Funds The Foundation will make distributions from the Gift Fund to carry out the charitable purposes of the Gift Fund in accordance with the Code. Written requests for charitable grants or distributions from the Gift Fund should be made at least ten days prior to the date when payment is to be made. The Foundation’s ability to make reimbursements to any individual for expenditures or to make a grant or distribution for any non-charitable purpose or to any non-charitable entity is generally disallowed by the Code. Advisors wishing to recommend any such reimbursement, grant or distribution should discuss it with the Foundation’s Finance & Donor Relations Team before engaging in any activity that might otherwise lead the Advisor to an expectation that any such payment would be appropriate. Please refer to The Charitable Giving Guide for more information. Endowed Gift Funds The undersigned understand and acknowledge that any Endowed Gift Fund created under this Agreement (with the Foundation or any of its affiliates or supporting organizations) is a permanent Gift Fund and that only the annual Spendable Amount will be available for distribution (as further addressed in the section hereof entitled “Spendable Amount”). Irrevocable Gifts The undersigned understand that any contribution to a Gift Fund, once accepted by the Board of Directors of the Foundation, represents an irrevocable gift to the Foundation and is not refundable. Succession Plans In the event that the undersigned shall not have designated a Succession Plan (see the section entitled Succession Plan in this agreement), then the succession plan policy and procedure contained in The Charitable Giving Guide which is incorporated by reference shall apply and the Foundation shall have no liability to any party for carrying out such policy and procedure. Service Charges The Foundation shall be entitled to receive as compensation for its services in investing, administering and distributing the assets held in the Gift Fund created hereunder the service charges set out in the Foundation’s regular schedule of compensation applicable at the time of the performance of such services; provided, however, that if the Foundation’s Custom service level applies to the Gift Fund, then the Foundation shall be entitled to receive as compensation the service charges as provided in the separate Custom Service Level Addendum attached hereto. Notice All communications required hereunder shall be in writing and shall be deemed to have been validly served, given or delivered (i) three (3) business days after deposit of same in the United States mail, designated as registered or certified mail, return receipt requested, bearing adequate postage, or (ii) on the date of delivery to such party if delivered by hand or by overnight or other similar courier and addressed to the party to be notified at the address for such party as provided in this Agreement, or to such other address as each party may designate for itself by like notice. Ownership Tools, equipment and software used by the Foundation to provide service to the Gift Fund shall remain the property of the Foundation and/or its licensors, and no right, title, license or interest in any of them is conveyed to the Gift Fund by this Agreement. Acknowledgment of Charitable Donations on Behalf of the Gift Fund The Foundation agrees that it will acknowledge to donors all contributions to the Gift Fund in accordance with the guidelines established by the Internal Revenue Service. Investments The undersigned acknowledge and agree that they have been advised by the Foundation that current IRS regulations or rulings permit Gift Fund Advisor(s) to designate investment preferences but require the Foundation to retain final discretion regarding such investments. The undersigned understand that investments will be administered in accordance with the policies of the Foundation. The undersigned acknowledge that the investments in the Gift Fund are subject to market and interest rate fluctuations. The total investment return of each investment manager is net of investment expenses. Confidentiality The Foundation agrees not to use any confidential information provided in connection with this Agreement for purposes other than those for which it was provided, without receiving prior consent. Indemnity In consideration of the Foundation’s creating a Gift Fund at the request of the undersigned individual(s) or entity and for other good and valuable consideration, the undersigned hereby agree to indemnify and hold harmless the Foundation against any liability, cost, or expense which the Foundation may incur by reason of its acting upon instructions or recommendations given to the Foundation by any of the undersigned or by persons authorized to make recommendations with regard to the Gift Fund. Severability The provisions of this Agreement are severable, and the invalidity or unenforceability of any one or more of such provisions shall not affect the validity or enforceability of the remainder of this Agreement which shall remain in full force and effect. Variance Power It is understood that the Gift Fund to be established pursuant to this agreement will be subject to the provisions of the Charter and Bylaws of the Foundation, as may be amended from time to time, including the power reserved by the Board of Directors to modify any condition or restriction on the distribution of funds if in its sole judgment (without the approval of any trustee, custodian, or agent), such restriction or condition becomes, in effect, unnecessary, incapable of fulfillment, or inconsistent with the charitable needs of the area served by the Foundation. Amendment of Agreement Subject to the provisions of the paragraph herein entitled “Variance Power,” this Agreement and any addendums attached hereto shall constitute the entire agreement of the parties and supersedes all prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof. Subject to the provisions of the paragraph herein entitled “Variance Power,” this Agreement, including any exhibits or attachments hereto, may not be amended or modified, except in a writing signed by all parties to this Agreement. Governing Law This Agreement is made subject to and shall be construed under the laws of the State of North Carolina, without giving effect to its conflict of laws principles. This Agreement may be executed in several counterparts, each of which shall be deemed an original, and all of which shall constitute one and the same instrument. Signatures By signing below, Opening Donor(s) and Advisor 1, if applicable, hereby acknowledge that they have read, understand and hereby agree to the provisions of this Agreement and that the information provided herein is accurate to the best of their knowledge. Opening Donor 1 Opening Donor 2 (if applicable) SIGNATURE SIGNATURE NAME (please print) NAME (please print) TITLE (for institutional donors) TITLE (for institutional donors) DATE DATE Advisor 1 (sign if different from Opening Donor) Foundation For The Carolinas SUBSIDIARY FOUNDATION SIGNATURE BY NAME (please print) TITLE TITLE DATE DATE SUBSIDIARY FOUNDATION BY TITLE DATE Addendum I – Gift Fund Investment Recommendation Form (See following page) investment recommendation form gift funds Foundation For The Carolinas offers fundholders diverse investment options to grow fund assets for maximum philanthropic impact. Please select one of the following investment pools based on the anticipated needs for your gift fund (please note: requested changes to your fund’s investment pool will generally take effect on the first day of the following month after your completed form is received). For additional information on FFTC’s investment pools, visit xxx.xxxx.xxx/xxxxx. Investment Pools Fund Type Pool choices for gift funds between $10,000 - $50,000 Non-Endowed Endowed Liquid Reserves Pool Low Duration Fixed Income Pool Pool choices for gift funds greater than $50,000 Liquid Reserves Pool Low Duration Fixed Income Pool Income & Growth Pool Moderate Passive Long-Term Growth Pool (formerly Passive Diversified) Passive Diversified Active Long-Term Growth Pool (formerly Moderate Growth) Non-Endowed Diversified Long-Term Growth Pool (formerly Endowed & Non-Endowed) * Endowed Diversified Long-Term Growth Pool *Restrictions on withdrawals apply depending upon the fund balance. Less than $1M – Available within 90 days; $1M - $5M – 80% available within 90 days, remainder within 1YR; Greater than $5M, please contact relationship manager. Investment Alliance Program For funds that maintain an asset balance greater than $250,000, you may recommend a specific investment manager from outside FFTC’s core investment pool to manage the fund portfolio (FFTC’s Investment Committee must approve the recommended manager): Anticipated Distribution Horizon (in years) Diversified Long-Term Growth Passive Long-Term Growth Active Long-Term Growth Income & Growth Low Duration Fixed Income Less Diversified More Diversified Liquid Reserves By signing below, I (we) understand that all gift funds are subject to the policies of Foundation For The Carolinas as set forth in the Charitable Giving GuideGuide and if applicable, understand the liquidity terms described above. The investment recommendation selected above includes careful consideration of the anticipated annual spending and grantmaking plans for the gift fund. Gift Fund Name & Number: Signature of Advisor: Print name: Date: Please email the completed form to xxxxxxxxxxx@xxxx.xxx. Foundation For The Carolinas does not provide tax, legal or investment advice. The information in our publications and on our website is general in nature, and is not intended to be a substitute for consulting your legal, tax or investment advisor regarding your particular situation. Any performance data is based on past performance and is no guarantee of future results.
Appears in 1 contract
Samples: www.fftc.org
Please refer to The Charitable Giving Guide for further information. If the Donor desires fundraising activities to be conducted in connection with the Gift Agency Fund established under this Agreement, then prior approval of Foundation Staff and additional documentation are required. If fundraising activities have been discussed with and approved for the Gift Agency Fund, then an authorized Foundation Staff member should check the box and initial below. □ Fundraising approved (please initial) Addenda Please indicate additional addenda attached to this Agreement, if any. Are any addenda (other than Addendum I – Gift Agency Fund Investment Recommendation Form) attached to this Agreement? □ Yes □ No If so, please list here: Notes Use this section to provide any information not addressed elsewhere in this Agreement or to complete any sections of the Agreement where space was otherwise too limited. Additional Provisions Your signature on the following page acknowledges that you have read, understand and agree to the provisions below. Protection of Tax-Exempt Status. Status The undersigned agree to comply with any written direction by the Foundation to cease recommending grants or distributions or conducting activities that may jeopardize the Foundation’s tax status or otherwise subject the Foundation or the Gift Agency Fund to excise taxes that are applicable to donor-advised funds as defined in the Internal Revenue Code (the “Code”). Charitable Giving Guide The undersigned have received and reviewed The Charitable Giving Guide and agree to the terms thereof. Accuracy of Information The undersigned hereby certify that all information presented in connection with this Agreement is accurate to the best knowledge of the undersigned and will promptly notify the Foundation in writing of any changes. Use of Funds The Foundation will make distributions from the Gift Agency Fund to carry out the charitable purposes of the Gift Agency Fund in accordance with the Code. Written requests for charitable grants or distributions from the Gift Agency Fund should be made at least ten days prior to the date when payment is to be made. The Foundation’s ability to make reimbursements to any individual for expenditures or to make a grant or distribution for any non-charitable purpose or to any non-charitable entity is generally disallowed by the Code. Advisors Representatives wishing to recommend any such reimbursement, grant or distribution should discuss it with the Foundation’s Finance & Donor Relations Team before engaging in any activity that might otherwise lead the Advisor Representative to an expectation that any such payment would be appropriate. Please refer to The Charitable Giving Guide for more information. Endowed Gift Agency Funds The undersigned understand and acknowledge that any Endowed Gift Agency Fund created under this Agreement (with the Foundation or any of its affiliates or supporting organizations) is a permanent Gift Agency Fund and that only the annual Spendable Amount will be available for distribution (as further addressed in the section hereof entitled “Spendable Amount”). Irrevocable Gifts The undersigned understand that any contribution to a Gift an Agency Fund, once accepted by the Board of Directors of the Foundation, represents an irrevocable gift to the Foundation and is not refundable. Succession Plans In the event that the undersigned shall not have designated a Succession Plan (see the section entitled Succession Plan in this agreement)Plan, then the succession plan policy and procedure contained in The Charitable Giving Guide which is incorporated by reference shall apply and the Foundation shall have no liability to any party for carrying out such policy and procedure. Service Charges The Foundation shall be entitled to receive as compensation for its services in investing, administering and distributing the assets held in the Gift Agency Fund created hereunder the service charges set out in the Foundation’s regular schedule of compensation applicable at the time of the performance of such services; provided, however, that if the Foundation’s Custom service level applies to the Gift Agency Fund, then the Foundation shall be entitled to receive as compensation the service charges as provided in the separate Custom Service Level Addendum attached hereto. Notice All communications required hereunder shall be in writing and shall be deemed to have been validly served, given or delivered (i) three (3) business days after deposit of same in the United States mail, designated as registered or certified mail, return receipt requested, bearing adequate postage, or (ii) on the date of delivery to such party if delivered by hand or by overnight or other similar courier and addressed to the party to be notified at the address for such party as provided in this Agreement, or to such other address as each party may designate for itself by like notice. Ownership Tools, equipment and software used by the Foundation to provide service to the Gift Agency Fund shall remain the property of the Foundation and/or its licensors, and no right, title, license or interest in any of them is conveyed to the Gift Agency Fund by this Agreement. Acknowledgment of Charitable Donations on Behalf of the Gift Fund Agency Fund. The Foundation agrees that it will acknowledge to donors all contributions to the Gift Agency Fund in accordance with the guidelines established by the Internal Revenue Service. Investments The undersigned acknowledge and agree that they have been advised by the Foundation that current IRS regulations or rulings permit Gift Agency Fund Advisor(sRepresentative(s) to designate investment preferences but require the Foundation to retain final discretion regarding such investments. The undersigned understand that investments will be administered in accordance with the policies of the Foundation. The undersigned acknowledge that the investments in the Gift Agency Fund are subject to market and interest rate fluctuations. The total investment return of each investment manager is net of investment expenses. Confidentiality The Foundation agrees not to use any confidential information provided in connection with this Agreement for purposes other than those for which it was provided, without receiving prior consent. Indemnity In consideration of the Foundation’s creating a Gift an Agency Fund at the request of the undersigned individual(s) or entity and for other good and valuable consideration, the undersigned hereby agree to indemnify and hold harmless the Foundation against any liability, cost, or expense which the Foundation may incur by reason of its acting upon instructions or recommendations given to the Foundation by any of the undersigned or by persons authorized to make recommendations with regard to the Gift Agency Fund. Severability The provisions of this Agreement are severable, and the invalidity or unenforceability of any one or more of such provisions shall not affect the validity or enforceability of the remainder of this Agreement which shall remain in full force and effect. Variance Power It is understood that the Gift Agency Fund to be established pursuant to this agreement will be subject to the provisions of the Charter and Bylaws of the Foundation, as may be amended from time to time, including the power reserved by the Board of Directors to modify any condition or restriction on the distribution of funds if in its sole judgment (without the approval of any trustee, custodian, or agent), such restriction or condition becomes, in effect, unnecessary, incapable of fulfillment, or inconsistent with the charitable needs of the area served by the Foundation. Amendment of Agreement Subject to the provisions of the paragraph herein entitled “Variance Power,” this Agreement and any addendums attached hereto shall constitute the entire agreement of the parties and supersedes all prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof. Subject to the provisions of the paragraph herein entitled “Variance Power,” this Agreement, including any exhibits or attachments hereto, may not be amended or modified, except in a writing signed by all parties to this Agreement. Governing Law This Agreement is made subject to and shall be construed under the laws of the State of North Carolina, without giving effect to its conflict of laws principles. This Agreement may be executed in several counterparts, each of which shall be deemed an original, and all of which shall constitute one and the same instrument. Signatures By signing below, Opening Donor(s) and Advisor 1, if applicable, The undersigned hereby acknowledge that they have read, understand and hereby agree to the provisions of this Agreement and that the information provided herein is accurate to the best of their knowledge. Opening Donor Nonprofit Organization Representative 1 Opening Donor 2 (if applicable) SIGNATURE SIGNATURE NAME (please print) NAME (please print) TITLE (for institutional donors) TITLE (for institutional donors) DATE DATE Advisor 1 (sign if different from Opening Donor) Foundation For The Carolinas SIGNATURE BY NAME (please print) TITLE TITLE ROLE(S) WITH ORGANIZATION DATE DATE SUBSIDIARY FOUNDATION BY TITLE Nonprofit Organization Representative 2 SIGNATURE NAME (please print) ROLE(S) WITH ORGANIZATION DATE Addendum I – Gift Agency Fund Investment Recommendation Form (See following page) investment recommendation form gift funds Foundation For The Carolinas offers fundholders diverse investment options to grow fund assets for maximum philanthropic impact. Please select one of the following investment pools based on the anticipated needs for your gift fund (please note: requested changes to your fund’s investment pool will generally take effect on the first day of the following month after your completed form is received). For additional information on FFTC’s investment pools, visit xxx.xxxx.xxx/xxxxx. Investment Pools Fund Type Pool choices for gift funds between $10,000 - $50,000 Non-Endowed Endowed Liquid Reserves Pool Low Duration Fixed Income Pool Pool choices for gift funds greater than $50,000 Liquid Reserves Pool Low Duration Fixed Income Pool Income & Growth Pool Moderate Growth Pool Passive Diversified Growth Pool Non-Endowed Diversified Long-Term Growth Pool Endowed Diversified Long-Term Growth Pool Investment Alliance Program For funds that maintain an asset balance greater than $250,000, you may recommend a specific investment manager from outside FFTC’s core investment pool to manage the fund portfolio (FFTC’s Investment Committee must approve the recommended manager): Anticipated Distribution Horizon (in years) By signing below, I (we) understand that all gift funds are subject to the policies of Foundation For The Carolinas as set forth in the Charitable Giving Guide. The investment recommendation selected above includes careful consideration of the anticipated annual spending and grantmaking plans for the gift fund. Gift Fund Name & Number: Signature of Advisor: Print name: Date: Please email the completed form to xxxxxxxxxxx@xxxx.xxx.Form
Appears in 1 contract
Samples: www.fftc.org
Please refer to The Charitable Giving Guide for further information. If the Donor desires fundraising activities to be conducted in connection with the Gift Fund established under this Agreement, then prior approval of Foundation Staff and additional documentation are required. If fundraising activities have been discussed with and approved for the Gift Fund, then an authorized Foundation Staff member should check the box and initial below. □ Fundraising approved (please initial) Addenda Please indicate additional addenda attached to this Agreement, if any. Are any addenda (other than Addendum I – Gift Fund Investment Recommendation Form) attached to this Agreement? □ Yes □ No If so, please list here: Notes Use this section to provide any information not addressed elsewhere in this Agreement or to complete any sections of the Agreement where space was otherwise too limited. Additional Provisions Your signature on the following page acknowledges that you have read, understand and agree to the provisions below. Protection of Tax-Exempt Status. The undersigned agree to comply with any written direction by the Foundation to cease recommending grants or distributions or conducting activities that may jeopardize the Foundation’s tax status or otherwise subject the Foundation or the Gift Fund to excise taxes that are applicable to donor-advised funds as defined in the Internal Revenue Code (the “Code”). Charitable Giving Guide The undersigned have received and reviewed The Charitable Giving Guide and agree to the terms thereof. Accuracy of Information The undersigned hereby certify that all information presented in connection with this Agreement is accurate to the best knowledge of the undersigned and will promptly notify the Foundation in writing of any changes. Use of Funds The Foundation will make distributions from the Gift Fund to carry out the charitable purposes of the Gift Fund in accordance with the Code. Written requests for charitable grants or distributions from the Gift Fund should be made at least ten days prior to the date when payment is to be made. The Foundation’s ability to make reimbursements to any individual for expenditures or to make a grant or distribution for any non-charitable purpose or to any non-charitable entity is generally disallowed by the Code. Advisors wishing to recommend any such reimbursement, grant or distribution should discuss it with the Foundation’s Finance & Donor Relations Team before engaging in any activity that might otherwise lead the Advisor to an expectation that any such payment would be appropriate. Please refer to The Charitable Giving Guide for more information. Endowed Gift Funds The undersigned understand and acknowledge that any Endowed Gift Fund created under this Agreement (with the Foundation or any of its affiliates or supporting organizations) is a permanent Gift Fund and that only the annual Spendable Amount will be available for distribution (as further addressed in the section hereof entitled “Spendable Amount”). Irrevocable Gifts The undersigned understand that any contribution to a Gift Fund, once accepted by the Board of Directors of the Foundation, represents an irrevocable gift to the Foundation and is not refundable. Succession Plans In the event that the undersigned shall not have designated a Succession Plan (see the section entitled Succession Plan in this agreement), then the succession plan policy and procedure contained in The Charitable Giving Guide which is incorporated by reference shall apply and the Foundation shall have no liability to any party for carrying out such policy and procedure. Service Charges The Foundation shall be entitled to receive as compensation for its services in investing, administering and distributing the assets held in the Gift Fund created hereunder the service charges set out in the Foundation’s regular schedule of compensation applicable at the time of the performance of such services; provided, however, that if the Foundation’s Custom service level applies to the Gift Fund, then the Foundation shall be entitled to receive as compensation the service charges as provided in the separate Custom Service Level Addendum attached hereto. Notice All communications required hereunder shall be in writing and shall be deemed to have been validly served, given or delivered (i) three (3) business days after deposit of same in the United States mail, designated as registered or certified mail, return receipt requested, bearing adequate postage, or (ii) on the date of delivery to such party if delivered by hand or by overnight or other similar courier and addressed to the party to be notified at the address for such party as provided in this Agreement, or to such other address as each party may designate for itself by like notice. Ownership Tools, equipment and software used by the Foundation to provide service to the Gift Fund shall remain the property of the Foundation and/or its licensors, and no right, title, license or interest in any of them is conveyed to the Gift Fund by this Agreement. Acknowledgment of Charitable Donations on Behalf of the Gift Fund The Foundation agrees that it will acknowledge to donors all contributions to the Gift Fund in accordance with the guidelines established by the Internal Revenue Service. Investments The undersigned acknowledge and agree that they have been advised by the Foundation that current IRS regulations or rulings permit Gift Fund Advisor(s) to designate investment preferences but require the Foundation to retain final discretion regarding such investments. The undersigned understand that investments will be administered in accordance with the policies of the Foundation. The undersigned acknowledge that the investments in the Gift Fund are subject to market and interest rate fluctuations. The total investment return of each investment manager is net of investment expenses. Confidentiality The Foundation agrees not to use any confidential information provided in connection with this Agreement for purposes other than those for which it was provided, without receiving prior consent. Indemnity In consideration of the Foundation’s creating a Gift Fund at the request of the undersigned individual(s) or entity and for other good and valuable consideration, the undersigned hereby agree to indemnify and hold harmless the Foundation against any liability, cost, or expense which the Foundation may incur by reason of its acting upon instructions or recommendations given to the Foundation by any of the undersigned or by persons authorized to make recommendations with regard to the Gift Fund. Severability The provisions of this Agreement are severable, and the invalidity or unenforceability of any one or more of such provisions shall not affect the validity or enforceability of the remainder of this Agreement which shall remain in full force and effect. Variance Power It is understood that the Gift Fund to be established pursuant to this agreement will be subject to the provisions of the Charter and Bylaws of the Foundation, as may be amended from time to time, including the power reserved by the Board of Directors to modify any condition or restriction on the distribution of funds if in its sole judgment (without the approval of any trustee, custodian, or agent), such restriction or condition becomes, in effect, unnecessary, incapable of fulfillment, or inconsistent with the charitable needs of the area served by the Foundation. Amendment of Agreement Subject to the provisions of the paragraph herein entitled “Variance Power,” this Agreement and any addendums attached hereto shall constitute the entire agreement of the parties and supersedes all prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof. Subject to the provisions of the paragraph herein entitled “Variance Power,” this Agreement, including any exhibits or attachments hereto, may not be amended or modified, except in a writing signed by all parties to this Agreement. Governing Law This Agreement is made subject to and shall be construed under the laws of the State of North Carolina, without giving effect to its conflict of laws principles. This Agreement may be executed in several counterparts, each of which shall be deemed an original, and all of which shall constitute one and the same instrument. Signatures By signing below, Opening Donor(s) and Advisor 1, if applicable, hereby acknowledge that they have read, understand and hereby agree to the provisions of this Agreement and that the information provided herein is accurate to the best of their knowledge. Opening Donor 1 Opening Donor 2 (if applicable) SIGNATURE SIGNATURE NAME (please print) NAME (please print) TITLE (for institutional donors) TITLE (for institutional donors) DATE DATE Advisor 1 (sign if different from Opening Donor) Foundation For The Carolinas SUBSIDIARY FOUNDATION SIGNATURE BY NAME (please print) TITLE TITLE (for institutional donors) DATE DATE SUBSIDIARY FOUNDATION BY TITLE DATE Addendum I – Gift Fund Investment Recommendation Form (See following page) investment recommendation form gift funds Foundation For The Carolinas offers fundholders diverse investment options to grow fund assets for maximum philanthropic impact. Please select one of the following investment pools based on the anticipated needs for your gift fund (please note: the initial selection of, or requested changes to to, your fund’s investment pool will generally take effect on the first day of the following month within 5 - 10 business days after your completed form is received). For additional information on FFTC’s investment pools, visit xxx.xxxx.xxx/xxxxx. Investment Pools Fund Type Pool choices for gift funds between $10,000 - $50,000 Non-Endowed Endowed Liquid Reserves Pool Low Duration Fixed Income Pool Pool choices for gift funds greater than $50,000 Liquid Reserves Pool Low Duration Fixed Income Pool Income & Growth Pool Moderate Passive Long-Term Growth Pool (formerly Passive Diversified) Passive Diversified Active Long-Term Growth Pool (formerly Moderatreferrae Growth) Non-Endowed Diversified Long-Term Growth Pool (formerly Endowed & Non-Endowed) * Endowed Diversified Long-Term Growth Pool *Restrictions on withdrawals apply depending upon the fund balance. Less than $1M – Available within 90 days; $1M - $5M – 80% available within 90 days, remainder within 1YR; Greater than $5M, please contact relationship manager. Investment Alliance Program For funds that maintain an asset balance greater than $250,000, you may recommend a specific investment manager from outside FFTC’s core investment pool to manage the fund portfolio (FFTC’s Investment Committee must approve the recommended manager): Anticipated Distribution Horizon (in years) Diversified Long-Term Growth Passive Long-Term Growth Active Long-Term Growth Income & Growth Low Duration Fixed Income Less Diversified More Diversified Liquid Reserves By signing below, I (we) understand that all gift funds are subject to the policies of Foundation For The Carolinas as set forth in the Charitable Giving GuideGuide and if applicable, understand the liquidity terms described above. The investment recommendation selected above includes careful consideration of the anticipated annual spending and grantmaking plans for the gift fund. Gift Fund Name & Number: Signature of Advisor: Print name: Date: Please email the completed form to xxxxxxxxxxx@xxxx.xxx. Foundation For The Carolinas does not provide tax, legal or investment advice. The information in our publications and on our website is general in nature, and is not intended to be a substitute for consulting your legal, tax or investment advisor regarding your particular situation. Any performance data is based on past performance and is no guarantee of future results.
Appears in 1 contract
Samples: www.fftc.org
Please refer to The Charitable Giving Guide for further information. If the Donor desires fundraising activities to be conducted in connection with the Gift Fund established under this Agreement, then prior approval of Foundation Staff and additional documentation are required. If fundraising activities have been discussed with and approved for the Gift Fund, then an authorized Foundation Staff member should check the box and initial below. □ Fundraising approved (please initial) Addenda Please indicate additional addenda attached to this Agreement, if any. Are any addenda (other than Addendum I – Gift Fund Investment Recommendation Form) attached to this Agreement? □ Yes □ No If so, please list here: Notes Use this section to provide any information not addressed elsewhere in this Agreement or to complete any sections of the Agreement where space was otherwise too limited. Additional Provisions Your signature on the following page acknowledges that you have read, understand and agree to the provisions below. Protection of Tax-Exempt Status. The undersigned agree to comply with any written direction by the Foundation to cease recommending grants or distributions or conducting activities that may jeopardize the Foundation’s tax status or otherwise subject the Foundation or the Gift Fund to excise taxes that are applicable to donor-advised funds as defined in the Internal Revenue Code (the “Code”). Charitable Giving Guide The undersigned have received and reviewed The Charitable Giving Guide and agree to the terms thereof. Accuracy of Information The undersigned hereby certify that all information presented in connection with this Agreement is accurate to the best knowledge of the undersigned and will promptly notify the Foundation in writing of any changes. Use of Funds The Foundation will make distributions from the Gift Fund to carry out the charitable purposes of the Gift Fund in accordance with the Code. Written requests for charitable grants or distributions from the Gift Fund should be made at least ten days prior to the date when payment is to be made. The Foundation’s ability to make reimbursements to any individual for expenditures or to make a grant or distribution for any non-charitable purpose or to any non-charitable entity is generally disallowed by the Code. Advisors wishing to recommend any such reimbursement, grant or distribution should discuss it with the Foundation’s Finance & Donor Relations Team before engaging in any activity that might otherwise lead the Advisor to an expectation that any such payment would be appropriate. Please refer to The Charitable Giving Guide for more information. Endowed Gift Funds The undersigned understand and acknowledge that any Endowed Gift Fund created under this Agreement (with the Foundation or any of its affiliates or supporting organizations) is a permanent Gift Fund and that only the annual Spendable Amount will be available for distribution (as further addressed in the section hereof entitled “Spendable Amount”). Irrevocable Gifts The undersigned understand that any contribution to a Gift Fund, once accepted by the Board of Directors of the Foundation, represents an irrevocable gift to the Foundation and is not refundable. Succession Plans In the event that the undersigned shall not have designated a Succession Plan (see the section entitled Succession Plan in this agreement), then the succession plan policy and procedure contained in The Charitable Giving Guide which is incorporated by reference shall apply and the Foundation shall have no liability to any party for carrying out such policy and procedure. Service Charges The Foundation shall be entitled to receive as compensation for its services in investing, administering and distributing the assets held in the Gift Fund created hereunder the service charges set out in the Foundation’s regular schedule of compensation applicable at the time of the performance of such services; provided, however, that if the Foundation’s Custom service level applies to the Gift Fund, then the Foundation shall be entitled to receive as compensation the service charges as provided in the separate Custom Service Level Addendum attached hereto. Notice All communications required hereunder shall be in writing and shall be deemed to have been validly served, given or delivered (i) three (3) business days after deposit of same in the United States mail, designated as registered or certified mail, return receipt requested, bearing adequate postage, or (ii) on the date of delivery to such party if delivered by hand or by overnight or other similar courier and addressed to the party to be notified at the address for such party as provided in this Agreement, or to such other address as each party may designate for itself by like notice. Ownership Tools, equipment and software used by the Foundation to provide service to the Gift Fund shall remain the property of the Foundation and/or its licensors, and no right, title, license or interest in any of them is conveyed to the Gift Fund by this Agreement. Acknowledgment of Charitable Donations on Behalf of the Gift Fund The Foundation agrees that it will acknowledge to donors all contributions to the Gift Fund in accordance with the guidelines established by the Internal Revenue Service. Investments The undersigned acknowledge and agree that they have been advised by the Foundation that current IRS regulations or rulings permit Gift Fund Advisor(s) to designate investment preferences but require the Foundation to retain final discretion regarding such investments. The undersigned understand that investments will be administered in accordance with the policies of the Foundation. The undersigned acknowledge that the investments in the Gift Fund are subject to market and interest rate fluctuations. The total investment return of each investment manager is net of investment expenses. Confidentiality The Foundation agrees not to use any confidential information provided in connection with this Agreement for purposes other than those for which it was provided, without receiving prior consent. Indemnity In consideration of the Foundation’s creating a Gift Fund at the request of the undersigned individual(s) or entity and for other good and valuable consideration, the undersigned hereby agree to indemnify and hold harmless the Foundation against any liability, cost, or expense which the Foundation may incur by reason of its acting upon instructions or recommendations given to the Foundation by any of the undersigned or by persons authorized to make recommendations with regard to the Gift Fund. Severability The provisions of this Agreement are severable, and the invalidity or unenforceability of any one or more of such provisions shall not affect the validity or enforceability of the remainder of this Agreement which shall remain in full force and effect. Variance Power It is understood that the Gift Fund to be established pursuant to this agreement will be subject to the provisions of the Charter and Bylaws of the Foundation, as may be amended from time to time, including the power reserved by the Board of Directors to modify any condition or restriction on the distribution of funds if in its sole judgment (without the approval of any trustee, custodian, or agent), such restriction or condition becomes, in effect, unnecessary, incapable of fulfillment, or inconsistent with the charitable needs of the area served by the Foundation. Amendment of Agreement Subject to the provisions of the paragraph herein entitled “Variance Power,” this Agreement and any addendums attached hereto shall constitute the entire agreement of the parties and supersedes all prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof. Subject to the provisions of the paragraph herein entitled “Variance Power,” this Agreement, including any exhibits or attachments hereto, may not be amended or modified, except in a writing signed by all parties to this Agreement. Governing Law This Agreement is made subject to and shall be construed under the laws of the State of North Carolina, without giving effect to its conflict of laws principles. This Agreement may be executed in several counterparts, each of which shall be deemed an original, and all of which shall constitute one and the same instrument. Signatures By signing below, Opening Donor(s) and Advisor 1, if applicable, hereby acknowledge that they have read, understand and hereby agree to the provisions of this Agreement and that the information provided herein is accurate to the best of their knowledge. Opening Donor 1 Opening Donor 2 (if applicable) SIGNATURE SIGNATURE NAME (please print) NAME (please print) TITLE (for institutional donors) TITLE (for institutional donors) DATE DATE Advisor 1 (sign if different from Opening Donor) Foundation For The Carolinas SIGNATURE BY NAME (please print) TITLE TITLE DATE DATE SUBSIDIARY FOUNDATION BY TITLE DATE Addendum I – Gift Fund Investment Recommendation Form (See following page) investment recommendation form gift funds Foundation For The Carolinas offers fundholders diverse investment options to grow fund assets for maximum philanthropic impact. Please select one of the following investment pools based on the anticipated needs for your gift fund (please note: requested changes to your fund’s investment pool will generally take effect on the first day of the following month after your completed form is received). For additional information on FFTC’s investment pools, visit xxx.xxxx.xxx/xxxxx. Investment Pools Fund Type Pool choices for gift funds between $10,000 - $50,000 Non-Endowed Endowed Liquid Reserves Pool Low Duration Fixed Income Pool Pool choices for gift funds greater than $50,000 Liquid Reserves Pool Low Duration Fixed Income Pool Income & Growth Pool Moderate Passive Long-Term Growth Pool (formerly Passive Diversified) Passive Diversified Active Long-Term Growth Pool (formerly Moderage Growth) Non-Endowed Diversified Long-Term Growth Pool (formerly Endowed & Non-Endowed) * Endowed Diversified *Please note that due to the nature of the investments included in the Long-Term Growth Pool pool, liquidity restrictions apply. Please reference further details in the Charitable Giving Guide. Investment Alliance Program For funds that maintain an asset balance greater than $250,000, you may recommend a specific investment manager from outside FFTC’s core investment pool to manage the fund portfolio (FFTC’s Investment Committee must approve the recommended manager): Anticipated Distribution Horizon (in years) Diversified Long-Term Growth (formerly Endowed/Nonendowed) Passive Long-Term Growth (formerly Passive Diversified Growth) Active Long-Term Growth (formerly Moderate Growth) Income & Growth Low Duration Fixed Income Less Diversified More Diversified Liquid Reserves By signing below, I (we) understand that all gift funds are subject to the policies of Foundation For The Carolinas as set forth in the Charitable Giving Guide. The investment recommendation selected above includes careful consideration of the anticipated annual spending and grantmaking plans for the gift fund. Gift Fund Name & Number: Signature of Advisor: Print name: Date: Please email the completed form to xxxxxxxxxxx@xxxx.xxx. Foundation For The Carolinas does not provide tax, legal or investment advice. The information in our publications and on our website is general in nature, and is not intended to be a substitute for consulting your legal, tax or investment advisor regarding your particular situation. Any performance data is based on past performance and is no guarantee of future results.
Appears in 1 contract
Samples: www2.fftc.org
Please refer to The Charitable Giving Guide for further information. If the Donor desires fundraising activities to be conducted in connection with the Gift Agency Fund established under this Agreement, then prior approval of Foundation FFTC Staff and additional documentation are required. If fundraising activities have been discussed with and approved for the Gift Agency Fund, then an authorized Foundation FFTC Staff member should check the box and initial below. □ Fundraising approved (please initial) Addenda Please indicate additional addenda attached to this Agreement, if any. Are any addenda (other than Addendum I – Gift GCCT Agency Fund Investment Recommendation Form) attached to this Agreement? □ Yes □ No If so, please list here: Notes Use this section to provide any information not addressed elsewhere in this Agreement or to complete any sections of the Agreement where space was otherwise too limited. Additional Provisions Your signature on the following page acknowledges that you have read, understand and agree to the provisions below. Protection of Tax-Exempt Status. Status The undersigned agree to comply with any written direction by the Trust and/or Foundation to cease recommending grants or distributions or conducting activities that may jeopardize the Trust and/or Foundation’s tax status or otherwise subject the Trust, Foundation or the Gift Agency Fund to excise taxes that are applicable to donor-advised funds as defined in the Internal Revenue Code (the “Code”). Charitable Giving Guide The undersigned have received and reviewed The Charitable Giving Guide and agree to the terms thereof. Accuracy of Information The undersigned hereby certify that all information presented in connection with this Agreement is accurate to the best knowledge of the undersigned and will promptly notify the Trust and Foundation in writing of any changes. Use of Funds The Foundation Distributions will make distributions be made from the Gift Agency Fund to carry out the charitable purposes of the Gift Agency Fund in accordance with the Code. Written requests for charitable grants or distributions from the Gift Agency Fund should be made at least ten days prior to the date when payment is to be made. The Foundation’s ability to make reimbursements Reimbursements to any individual for expenditures or to make a grant grants or distribution distributions for any non-charitable purpose or to any non-charitable entity is are generally disallowed by the Code. Advisors Representatives wishing to recommend any such reimbursement, grant or distribution should discuss it with the Foundation’s Finance & Donor Relations Team before engaging in any activity that might otherwise lead the Advisor Representative to an expectation that any such payment would be appropriate. Please refer to The Charitable Giving Guide for more information. Endowed Gift Agency Funds The undersigned understand and acknowledge that any Endowed Gift Agency Fund created under this Agreement (with the Foundation or any of its affiliates or supporting organizations) is a permanent Gift Agency Fund and that only the annual Spendable Amount will be available for distribution (as further addressed in the section hereof entitled “Spendable Amount”). Irrevocable Gifts The undersigned understand that any contribution to a Gift an Agency Fund, once accepted by the Board of Directors of the Foundationaccepted, represents an irrevocable gift to the Foundation Trust and is not refundable. Succession Plans In the event that the undersigned shall not have designated a Succession Plan (see the section entitled Succession Plan in this agreement)Plan, then the succession plan policy and procedure contained in The Charitable Giving Guide which is incorporated by reference shall apply and neither the Trust nor the Foundation shall have no any liability to any party for carrying out such policy and procedure. Service Charges The Trust and Foundation shall be entitled to receive as compensation for its their services in investing, administering and distributing the assets held in the Gift Agency Fund created hereunder the service charges set out in the Trust’s and/or Foundation’s regular schedule of compensation applicable at the time of the performance of such services; provided, however, that if the Foundation’s Custom service level applies to the Gift Agency Fund, then the Foundation shall be entitled to receive as compensation the service charges as provided in the separate Custom Service Level Addendum attached hereto. Notice All communications required hereunder shall be in writing and shall be deemed to have been validly served, given or delivered (i) three (3) business days after deposit of same in the United States mail, designated as registered or certified mail, return receipt requested, bearing adequate postage, or (ii) on the date of delivery to such party if delivered by hand or by overnight or other similar courier and addressed to the party to be notified at the address for such party as provided in this Agreement, or to such other address as each party may designate for itself by like notice. Ownership Tools, equipment and software used by the Foundation to provide service to the Gift Agency Fund shall remain the property of the Foundation and/or its licensors, and no right, title, license or interest in any of them is conveyed to the Gift Agency Fund by this Agreement. Acknowledgment of Charitable Donations on Behalf of the Gift Agency Fund The Trust and Foundation agrees that it will agree to acknowledge to donors all donor contributions to the Gift Agency Fund in accordance with the guidelines established by the Internal Revenue Service. Investments The undersigned acknowledge and agree that they have been advised by the Foundation Trust that current IRS regulations or rulings permit Gift Agency Fund Advisor(sRepresentative(s) to designate investment preferences but require the Foundation Trust to retain final discretion regarding such investments. The undersigned understand that investments will be administered in accordance with the policies of the Trust and Foundation. The undersigned acknowledge that the investments in the Gift Agency Fund are subject to market and interest rate fluctuations. The total investment return of each investment manager is net of investment expenses. Confidentiality The Trust and Foundation agrees agree not to use any confidential information provided in connection with this Agreement for purposes other than those for which it was provided, without receiving prior consent. Indemnity In consideration of the Foundation’s Trust and Foundation creating a Gift an Agency Fund at the request of the undersigned individual(s) or entity and for other good and valuable consideration, the undersigned hereby agree to indemnify and hold harmless the Trust and Foundation against any liability, cost, or expense which the Trust and/or Foundation may incur by reason of its acting upon instructions or recommendations given to the Trust and/or Foundation by any of the undersigned or by persons authorized to make recommendations with regard to the Gift Agency Fund. Severability The provisions of this Agreement are severable, and the invalidity or unenforceability of any one or more of such provisions shall not affect the validity or enforceability of the remainder of this Agreement which shall remain in full force and effect. Variance Power It is understood that the Gift Agency Fund to be established pursuant to this agreement Agreement will be subject to the provisions of the Charter and Bylaws of the FoundationTrust, as may be amended from time to time, including as well as the power reserved by the the Foundation’s Board of Directors to modify any condition or restriction on the distribution of funds if in its sole judgment (without the approval of any trustee, custodian, or agent), such restriction or condition becomes, in effect, unnecessary, incapable of fulfillment, or inconsistent with the charitable needs of the area served by the FoundationFoundation (and the Trust). Amendment of Agreement Subject to the provisions of the paragraph herein entitled “Variance Power,” this Agreement and any addendums attached hereto shall constitute the entire agreement of the parties and supersedes all prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof. Subject to the provisions of the paragraph herein entitled “Variance Power,” this Agreement, including any exhibits or attachments hereto, may not be amended or modified, except in a writing signed by all parties to this Agreement. Governing Law This Agreement is made subject to and shall be construed under the laws of the State of North Carolina, without giving effect to its conflict of laws principles. This Agreement may be executed in several counterparts, each of which shall be deemed an original, and all of which shall constitute one and the same instrument. Signatures By signing below, Opening Donor(s) and Advisor 1, if applicable, The undersigned hereby acknowledge that they have read, understand and hereby agree to the provisions of this Agreement and that the information provided herein is accurate to the best of their knowledge. Opening Donor Nonprofit Organization Representative 1 Opening Donor 2 (if applicable) The Greater Charlotte Cultural Trust SIGNATURE SIGNATURE NAME (please print) BY NAME (please print) TITLE (for institutional donorsROLE(S) TITLE (for institutional donors) WITH ORGANIZATION DATE DATE Advisor 1 (sign if different from Opening Donor) Nonprofit Organization Representative 2 Foundation For The Carolinas SIGNATURE BY NAME (please print) TITLE TITLE ROLE(S) WITH ORGANIZATION DATE DATE SUBSIDIARY FOUNDATION BY TITLE DATE Addendum I – Gift GCCT Agency Fund Investment Recommendation Form (See following page) investment recommendation form gift agency funds Foundation For The Carolinas offers fundholders Greater Charlotte Cultural Trust (GCCT) is pleased to offer its member organizations diverse investment options to grow fund assets for maximum philanthropic impact. Please select one of the following investment pools based on the anticipated needs for your gift agency fund (please note: the initial selection of, or requested changes to to, your fund’s investment pool will generally take effect on the first day of the following month within 5- 10 business days after your completed form is received). For additional information on FFTCGCCT’s investment pools, visit xxx.xxxx.xxx/xxxxxxxx.xxxx.xxx/XXXXXxxxxxxxxxx. Investment Pools Fund Type Pool choices for gift funds between $10,000 - $50,000 Non-Endowed Quasi-Endowed Endowed Liquid Reserves Pool Low Duration Fixed Income Pool Pool choices for gift funds greater than $50,000 Liquid Reserves Pool Low Duration Fixed Income Pool Income & Growth Pool Active Long-Term Growth (formerly Moderate Growth Pool Growth) Passive Long-Term Growth (formerly Passive Diversified Growth Pool Growth) Non Bank Long-Term Growth (BAC/WFC) Diversified Long-Term Growth (formerly Endowed Diversified Long-Term Growth Pool Growth) * * Endowed Diversified Long-Term Growth Pool Investment Alliance Program For funds that maintain an asset balance greater *Restrictions on withdrawals apply depending upon the fund balance. Less than $250,0001M – Available within 90 days; $1M - $5M – 80% available within 90 days, you may recommend a specific investment manager from outside FFTC’s core investment pool to manage the fund portfolio (FFTC’s Investment Committee must approve the recommended remainder within 1YR; Greater than $5M, please contact relationship manager): . Anticipated Distribution Horizon (in years) By signing below, I (we) understand that all gift GCCT agency funds are subject to the policies of the GCCT and the Foundation For The Carolinas as set forth in the Charitable Giving GuideGuide and if applicable, understand the liquidity terms described above. The investment recommendation selected above includes careful consideration of the anticipated annual spending and grantmaking distribution plans for the gift agency fund. Gift Agency Fund Name & Number: Signature of AdvisorRepresentative: Print name: Date: Please email the completed form to xxxxxxxxxxx@xxxx.xxx.
Appears in 1 contract
Samples: www2.fftc.org
Please refer to The Charitable Giving Guide for further information. If the Donor desires fundraising activities to be conducted in connection with the Gift Agency Fund established under this Agreement, then prior approval of Foundation Staff and additional documentation are required. If fundraising activities have been discussed with and approved for the Gift Agency Fund, then an authorized Foundation Staff member should check the box and initial below. □ Fundraising approved (please initial) Addenda Please indicate additional addenda attached to this Agreement, if any. Are any addenda (other than Addendum I – Gift Agency Fund Investment Recommendation Form) attached to this Agreement? □ Yes □ No If so, please list here: Notes Use this section to provide any information not addressed elsewhere in this Agreement or to complete any sections of the Agreement where space was otherwise too limited. Additional Provisions Your signature on the following page acknowledges that you have read, understand and agree to the provisions below. Protection of Tax-Exempt Status. Status The undersigned agree to comply with any written direction by the Foundation to cease recommending grants or distributions or conducting activities that may jeopardize the Foundation’s tax status or otherwise subject the Foundation or the Gift Agency Fund to excise taxes that are applicable to donor-advised funds as defined in the Internal Revenue Code (the “Code”). Charitable Giving Guide The undersigned have received and reviewed The Charitable Giving Guide and agree to the terms thereof. Accuracy of Information The undersigned hereby certify that all information presented in connection with this Agreement is accurate to the best knowledge of the undersigned and will promptly notify the Foundation in writing of any changes. Use of Funds The Foundation will make distributions from the Gift Agency Fund to carry out the charitable purposes of the Gift Agency Fund in accordance with the Code. Written requests for charitable grants or distributions from the Gift Agency Fund should be made at least ten days prior to the date when payment is to be made. The Foundation’s ability to make reimbursements to any individual for expenditures or to make a grant or distribution for any non-charitable purpose or to any non-charitable entity is generally disallowed by the Code. Advisors Representatives wishing to recommend any such reimbursement, grant or distribution should discuss it with the Foundation’s Finance & Donor Relations Team before engaging in any activity that might otherwise lead the Advisor Representative to an expectation that any such payment would be appropriate. Please refer to The Charitable Giving Guide for more information. Endowed Gift Agency Funds The undersigned understand and acknowledge that any Endowed Gift Agency Fund created under this Agreement (with the Foundation or any of its affiliates or supporting organizations) is a permanent Gift Agency Fund and that only the annual Spendable Amount will be available for distribution (as further addressed in the section hereof entitled “Spendable Amount”). Irrevocable Gifts The undersigned understand that any contribution to a Gift an Agency Fund, once accepted by the Board of Directors of the Foundation, represents an irrevocable gift to the Foundation and is not refundable. Succession Plans In the event that the undersigned shall not have designated a Succession Plan (see the section entitled Succession Plan in this agreement)Plan, then the succession plan policy and procedure contained in The Charitable Giving Guide which is incorporated by reference shall apply and the Foundation shall have no liability to any party for carrying out such policy and procedure. Service Charges The Foundation shall be entitled to receive as compensation for its services in investing, administering and distributing the assets held in the Gift Agency Fund created hereunder the service charges set out in the Foundation’s regular schedule of compensation applicable at the time of the performance of such services; provided, however, that if the Foundation’s Custom service level applies to the Gift Agency Fund, then the Foundation shall be entitled to receive as compensation the service charges as provided in the separate Custom Service Level Addendum attached hereto. Notice All communications required hereunder shall be in writing and shall be deemed to have been validly served, given or delivered (i) three (3) business days after deposit of same in the United States mail, designated as registered or certified mail, return receipt requested, bearing adequate postage, or (ii) on the date of delivery to such party if delivered by hand or by overnight or other similar courier and addressed to the party to be notified at the address for such party as provided in this Agreement, or to such other address as each party may designate for itself by like notice. Ownership Tools, equipment and software used by the Foundation to provide service to the Gift Agency Fund shall remain the property of the Foundation and/or its licensors, and no right, title, license or interest in any of them is conveyed to the Gift Agency Fund by this Agreement. Acknowledgment of Charitable Donations on Behalf of the Gift Fund Agency Fund. The Foundation agrees that it will acknowledge to donors all contributions to the Gift Agency Fund in accordance with the guidelines established by the Internal Revenue Service. Investments The undersigned acknowledge and agree that they have been advised by the Foundation that current IRS regulations or rulings permit Gift Agency Fund Advisor(sRepresentative(s) to designate investment preferences but require the Foundation to retain final discretion regarding such investments. The undersigned understand that investments will be administered in accordance with the policies of the Foundation. The undersigned acknowledge that the investments in the Gift Agency Fund are subject to market and interest rate fluctuations. The total investment return of each investment manager is net of investment expenses. Confidentiality The Foundation agrees not to use any confidential information provided in connection with this Agreement for purposes other than those for which it was provided, without receiving prior consent. Indemnity In consideration of the Foundation’s creating a Gift an Agency Fund at the request of the undersigned individual(s) or entity and for other good and valuable consideration, the undersigned hereby agree to indemnify and hold harmless the Foundation against any liability, cost, or expense which the Foundation may incur by reason of its acting upon instructions or recommendations given to the Foundation by any of the undersigned or by persons authorized to make recommendations with regard to the Gift Agency Fund. Severability The provisions of this Agreement are severable, and the invalidity or unenforceability of any one or more of such provisions shall not affect the validity or enforceability of the remainder of this Agreement which shall remain in full force and effect. Variance Power It is understood that the Gift Agency Fund to be established pursuant to this agreement will be subject to the provisions of the Charter and Bylaws of the Foundation, as may be amended from time to time, including the power reserved by the Board of Directors to modify any condition or restriction on the distribution of funds if in its sole judgment (without the approval of any trustee, custodian, or agent), such restriction or condition becomes, in effect, unnecessary, incapable of fulfillment, or inconsistent with the charitable needs of the area served by the Foundation. Amendment of Agreement Subject to the provisions of the paragraph herein entitled “Variance Power,” this Agreement and any addendums attached hereto shall constitute the entire agreement of the parties and supersedes all prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof. Subject to the provisions of the paragraph herein entitled “Variance Power,” this Agreement, including any exhibits or attachments hereto, may not be amended or modified, except in a writing signed by all parties to this Agreement. Governing Law This Agreement is made subject to and shall be construed under the laws of the State of North Carolina, without giving effect to its conflict of laws principles. This Agreement may be executed in several counterparts, each of which shall be deemed an original, and all of which shall constitute one and the same instrument. Signatures By signing below, Opening Donor(s) and Advisor 1, if applicable, The undersigned hereby acknowledge that they have read, understand and hereby agree to the provisions of this Agreement and that the information provided herein is accurate to the best of their knowledge. Opening Donor Nonprofit Organization Representative 1 Opening Donor 2 (if applicable) SIGNATURE SIGNATURE NAME (please print) NAME (please print) TITLE (for institutional donors) TITLE (for institutional donors) DATE DATE Advisor 1 (sign if different from Opening Donor) Foundation For The Carolinas SIGNATURE BY NAME (please print) TITLE TITLE ROLE(S) WITH ORGANIZATION DATE DATE SUBSIDIARY FOUNDATION BY TITLE Nonprofit Organization Representative 2 SIGNATURE NAME (please print) ROLE(S) WITH ORGANIZATION DATE Addendum I – Gift Agency Fund Investment Recommendation Form (See following page) investment recommendation form gift agency funds Foundation For The Carolinas offers fundholders diverse investment options to grow fund assets for maximum philanthropic impact. Please select one of the following investment pools based on the anticipated needs for your gift agency fund (please note: requested changes to your fund’s investment pool will generally take effect on the first day of the following month after your completed form is received). For additional information on FFTC’s investment pools, visit xxx.xxxx.xxx/xxxxx. Investment Pools Fund Type Pool choices for gift funds between $10,000 - $50,000 Non-Endowed Quasi-Endowed Endowed Liquid Reserves Pool Low Duration Fixed Income Pool Pool choices for gift funds greater than $50,000 Liquid Reserves Pool Low Duration Fixed Income Pool Income & Growth Pool Moderate Passive Long-Term Growth Pool (formerly Passive Diversified) Passive Diversified Active Long-Term Growth Pool (formerly Moderate Growth) Non-Endowed Diversified Long-Term Growth Pool (formerly Endowed & NonEndowed) * * Endowed Diversified *Please note that due to the nature of the investments included in the Long-Term Growth Pool Investment Alliance Program For funds that maintain an asset balance greater than $250,000pool, you may recommend a specific investment manager from outside FFTC’s core investment pool to manage liquidity restrictions apply. Please reference further details in the fund portfolio (FFTC’s Investment Committee must approve the recommended manager): Charitable Giving Guide. Anticipated Distribution Horizon (in years) Diversified Long-Term Growth (formerly Endowed/Nonendowed) Passive Long-Term Growth (formerly Passive Diversified Growth) Active Long-Term Growth (formerly Moderate Growth) Income & Growth Low Duration Fixed Income Less Diversified More Diversified Liquid Reserves By signing below, I (we) understand that all gift agency funds are subject to the policies of Foundation For The Carolinas as set forth in the Charitable Giving Guide. The investment recommendation selected above includes careful consideration of the anticipated annual spending and grantmaking distribution plans for the gift agency fund. Gift Agency Fund Name & Number: Signature of AdvisorRepresentative: Print name: Date: Please email the completed form to xxxxxxxxxxx@xxxx.xxx. Foundation For The Carolinas does not provide tax, legal or investment advice. The information in our publications and on our website is general in nature, and is not intended to be a substitute for consulting your legal, tax or investment advisor regarding your particular situation. Any performance data is based on past performance and is no guarantee of future results.
Appears in 1 contract
Samples: www.fftc.org
Please refer to The Charitable Giving Guide for further information. If the Donor desires fundraising activities to be conducted in connection with the Gift Agency Fund established under this Agreement, then prior approval of Foundation Staff and additional documentation are required. If fundraising activities have been discussed with and approved for the Gift Agency Fund, then an authorized Foundation Staff member should check the box and initial below. □ Fundraising approved (please FFTC initial) Addenda Please indicate additional addenda attached to this Agreement, if any. Are Please check the following box if any addenda (other than Addendum I – Gift Agency Fund Investment Recommendation Form) Form are attached to this Agreement? □ Yes □ No If so, please list here Additional addenda are attached and listed below: Notes Use this section to provide any information not addressed elsewhere in this Agreement or to complete any sections of the Agreement where space was otherwise too limited. Additional Provisions Your signature on the following page acknowledges that you have read, understand and agree to the provisions below. Protection of Tax-Exempt Status. Status The undersigned agree to comply with any written direction by the Foundation to cease recommending grants or distributions or conducting activities that may jeopardize the Foundation’s tax status or otherwise subject the Foundation or the Gift Agency Fund to excise taxes that are applicable to donor-advised funds as defined in the Internal Revenue Code (the “Code”). Charitable Giving Guide The undersigned have received and reviewed The the Charitable Giving Guide and agree to the terms thereof. Accuracy of Information The undersigned hereby certify that all information presented in connection with this Agreement is accurate to the best knowledge of the undersigned and will promptly notify the Foundation in writing of any changes. Use of Funds The Foundation will make distributions from the Gift Agency Fund to carry out the charitable purposes of the Gift Agency Fund in accordance with the Code. Written requests Requests for charitable grants or distributions from the Gift Agency Fund should be made at least ten days prior to the date when payment is to be made. The Foundation’s ability to make reimbursements to any individual for expenditures or to make a grant or distribution for any non-non- charitable purpose or to any non-charitable entity is generally disallowed by the Code. Advisors Representatives wishing to recommend any such reimbursement, grant or distribution should discuss it with the Foundation’s Finance & Donor Relations Team before engaging in any activity that might otherwise lead the Advisor Representative to an expectation that any such payment would be appropriate. Please refer to The the Charitable Giving Guide for more information. Endowed Gift Agency Funds The undersigned understand and acknowledge that any Endowed Gift Agency Fund created under this Agreement (with the Foundation or any of its affiliates or supporting organizations) is a permanent Gift Agency Fund and that only the annual Spendable Amount will be available for distribution (as further addressed in the section hereof entitled “Spendable Amount”). Irrevocable Gifts The undersigned understand that any contribution to a Gift an Agency Fund, once accepted by the Board of Directors of the Foundation, represents an irrevocable gift to the Foundation and is not refundable. Succession Plans In the event that the undersigned shall not have designated a Succession Plan (see the section entitled Succession Plan in this agreement)Plan, then the succession plan policy and procedure contained in The the Charitable Giving Guide which is incorporated by reference shall apply and the Foundation shall have no liability to any party for carrying out such policy and procedure. Service Charges The Foundation shall be entitled to receive as compensation for its services in investing, administering and distributing the assets held in the Gift Agency Fund created hereunder the service charges set out in the Foundation’s regular schedule of compensation applicable at the time of the performance of such services; provided, however, that if the Foundation’s Custom custom service level applies to the Gift Agency Fund, then the Foundation shall be entitled to receive as compensation the service charges as provided in the separate Custom Service Level Addendum attached hereto. Notice All communications required hereunder shall be in writing and shall be deemed to have been validly served, given or delivered (i) three (3) business days after deposit of same in the United States mail, designated as registered or certified mail, return receipt requested, bearing adequate postage, or (ii) on the date of delivery to such party if delivered by hand or by overnight or other similar courier and addressed to the party to be notified at the address for such party as provided in this Agreement, or to such other address as each party may designate for itself by like notice. Ownership Tools, equipment and software used by the Foundation to provide service to the Gift Agency Fund shall remain the property of the Foundation and/or its licensors, and no right, title, license or interest in any of them is conveyed to the Gift Agency Fund by this Agreement. Acknowledgment of Charitable Donations on Behalf of the Gift Agency Fund The Foundation agrees that it will acknowledge to donors all contributions to the Gift Agency Fund in accordance with the guidelines established by the Internal Revenue Service. Investments The undersigned acknowledge and agree that they have been advised by the Foundation that current IRS regulations or rulings permit Gift Agency Fund Advisor(sRepresentative(s) to designate investment preferences but require the Foundation to retain final discretion regarding such investments. The undersigned understand that investments will be administered in accordance with the policies of the Foundation. The undersigned acknowledge that the investments in the Gift Agency Fund are subject to market and interest rate fluctuations. The total investment return of each investment manager is net of investment expenses. Confidentiality The Foundation agrees not to use any confidential information provided in connection with this Agreement for purposes other than those for which it was provided, without receiving prior consent. Indemnity In consideration of the Foundation’s creating a Gift an Agency Fund at the request of the undersigned individual(s) or entity and for other good and valuable consideration, the undersigned hereby agree to indemnify and hold harmless the Foundation against any liability, cost, or expense which the Foundation may incur by reason of its acting upon instructions or recommendations given to the Foundation by any of the undersigned or by persons authorized to make recommendations with regard to the Gift Agency Fund. Severability The provisions of this Agreement are severable, and the invalidity or unenforceability of any one or more of such provisions shall not affect the validity or enforceability of the remainder of this Agreement which shall remain in full force and effect. Variance Power It is understood that the Gift Agency Fund to be established pursuant to this agreement will be subject to the provisions of the Charter and Bylaws of the Foundation, as may be amended from time to time, including the power reserved by the Board of Directors to modify any condition or restriction on the distribution of funds if in its sole judgment (without the approval of any trustee, custodian, or agent), such restriction or condition becomes, in effect, unnecessary, incapable of fulfillment, or inconsistent with the charitable needs of the area served by the Foundation. Amendment of Agreement Subject to the provisions of the paragraph herein entitled “Variance Power,” this Agreement and any addendums attached hereto shall constitute the entire agreement of the parties and supersedes all prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof. Subject to the provisions of the paragraph herein entitled “Variance Power,” this Agreement, including any exhibits or attachments hereto, may not be amended or modified, except in a writing signed by all parties to this Agreement. Governing Law This Agreement is made subject to and shall be construed under the laws of the State of North Carolina, without giving effect to its conflict of laws principles. This Agreement may be executed in several counterparts, each of which shall be deemed an original, and all of which shall constitute one and the same instrument. Signatures By signing below, Opening Donor(s) and Advisor 1, if applicable, The undersigned hereby acknowledge that they have read, understand and hereby agree to the provisions of this Agreement and that the information provided herein is accurate to the best of their knowledge. Opening Donor 1 Opening Donor 2 (if applicable) SIGNATURE SIGNATURE NAME (please print) NAME (please print) TITLE (for institutional donors) TITLE (for institutional donors) DATE DATE Advisor 1 (sign if different from Opening Donor) The undersigned further acknowledge that they are duly authorized by the nonprofit organization to execute and deliver this Agreement and that any necessary corporate action has been taken to grant such authority. Nonprofit Organization Foundation For The Carolinas SIGNATURE BY NAME (please print) TITLE TITLE ROLE(S) WITH ORGANIZATION DATE DATE SUBSIDIARY FOUNDATION BY TITLE Nonprofit Organization SIGNATURE NAME (please print) ROLE(S) WITH ORGANIZATION DATE Addendum I – Gift Fund Investment Recommendation Form (See following page) investment recommendation form gift agency funds Foundation For The Carolinas offers fundholders diverse investment options to grow fund assets for maximum philanthropic impact. Please select one of the following investment pools based on the anticipated needs for your gift fund (please agency fund. Please note: The initial selection of, or requested changes to to, your fund’s investment pool will generally take effect on the first day of the following month within 10 business days after your completed form is received). For additional information on FFTC’s investment pools, visit xxx.xxxx.xxx/xxxxx. Investment Pools Fund Type Pool choices for gift funds between $10,000 - $50,000 Non-Endowed Quasi-Endowed Endowed Liquid Reserves Pool Low Duration Fixed Income Pool Pool choices for gift funds greater than $50,000 Liquid Reserves Pool Low Duration Fixed Income Pool Income & Growth Pool Moderate Passive Long-Term Growth Pool Passive Diversified ESG Long-Term Growth Pool Non Active Long-Endowed Term Growth Diversified Long-Term Growth Pool * * Endowed Diversified Long-Term Growth Pool Investment Alliance Program For funds that maintain an asset balance greater *Restrictions on withdrawals apply depending upon the fund balance. Less than $250,0001M – available within 90 days; $1M - $5M – 80% available within 90 days, you may recommend a specific investment manager from outside FFTC’s core investment pool to manage the fund portfolio (FFTC’s Investment Committee must approve the recommended remainder within 1YR; Greater than $5M, please contact relationship manager): . Anticipated Distribution Horizon (in years) By signing below, I (we) understand that all gift agency funds are subject to the policies of Foundation For The Carolinas as set forth in the Charitable Giving GuideGuide and if applicable, understand the liquidity terms described above. The investment recommendation selected above includes careful consideration of the anticipated annual spending and grantmaking distribution plans for the gift agency fund. Gift Agency Fund Name & Number: Signature of AdvisorRepresentative: Print name: Date: Please email the completed form to xxxxxxxxxxx@xxxx.xxx. Foundation For The Carolinas does not provide tax, legal or investment advice. The information in our publications and on our website is general in nature, and is not intended to be a substitute for consulting your legal, tax or investment advisor regarding your particular situation. Any performance data is based on past performance and is no guarantee of future results.
Appears in 1 contract
Samples: myfftc.org
Please refer to The Charitable Giving Guide for further information. If the Donor desires fundraising activities to be conducted in connection with the Gift Fund established under this Agreement, then prior approval of Foundation Staff and additional documentation are required. If fundraising activities have been discussed with and approved for the Gift Fund, then an authorized Foundation Staff member should check the box and initial below. □ Fundraising approved (please initial) Addenda Please indicate additional addenda attached to this Agreement, if any. Are any addenda (other than Addendum I – Gift Fund Investment Recommendation Form) attached to this Agreement? □ Yes □ No If so, please list here: Notes Use this section to provide any information not addressed elsewhere in this Agreement or to complete any sections of the Agreement where space was otherwise too limited. Additional Provisions Your signature on the following page acknowledges that you have read, understand and agree to the provisions below. Protection of Tax-Exempt Status. The undersigned agree to comply with any written direction by the Foundation to cease recommending grants or distributions or conducting activities that may jeopardize the Foundation’s tax status or otherwise subject the Foundation or the Gift Fund to excise taxes that are applicable to donor-advised funds as defined in the Internal Revenue Code (the “Code”). Charitable Giving Guide The undersigned have received and reviewed The Charitable Giving Guide and agree to the terms thereof. Accuracy of Information The undersigned hereby certify that all information presented in connection with this Agreement is accurate to the best knowledge of the undersigned and will promptly notify the Foundation in writing of any changes. Use of Funds The Foundation will make distributions from the Gift Fund to carry out the charitable purposes of the Gift Fund in accordance with the Code. Written requests for charitable grants or distributions from the Gift Fund should be made at least ten days prior to the date when payment is to be made. The Foundation’s ability to make reimbursements to any individual for expenditures or to make a grant or distribution for any non-charitable purpose or to any non-charitable entity is generally disallowed by the Code. Advisors wishing to recommend any such reimbursement, grant or distribution should discuss it with the Foundation’s Finance & Donor Relations Team before engaging in any activity that might otherwise lead the Advisor to an expectation that any such payment would be appropriate. Please refer to The Charitable Giving Guide for more information. Endowed Gift Funds The undersigned understand and acknowledge that any Endowed Gift Fund created under this Agreement (with the Foundation or any of its affiliates or supporting organizations) is a permanent Gift Fund and that only the annual Spendable Amount will be available for distribution (as further addressed in the section hereof entitled “Spendable Amount”). Irrevocable Gifts The undersigned understand that any contribution to a Gift Fund, once accepted by the Board of Directors of the Foundation, represents an irrevocable gift to the Foundation and is not refundable. Succession Plans In the event that the undersigned shall not have designated a Succession Plan (see the section entitled Succession Plan in this agreement), then the succession plan policy and procedure contained in The Charitable Giving Guide which is incorporated by reference shall apply and the Foundation shall have no liability to any party for carrying out such policy and procedure. Service Charges The Foundation shall be entitled to receive as compensation for its services in investing, administering and distributing the assets held in the Gift Fund created hereunder the service charges set out in the Foundation’s regular schedule of compensation applicable at the time of the performance of such services; provided, however, that if the Foundation’s Custom service level applies to the Gift Fund, then the Foundation shall be entitled to receive as compensation the service charges as provided in the separate Custom Service Level Addendum attached hereto. Notice All communications required hereunder shall be in writing and shall be deemed to have been validly served, given or delivered (i) three (3) business days after deposit of same in the United States mail, designated as registered or certified mail, return receipt requested, bearing adequate postage, or (ii) on the date of delivery to such party if delivered by hand or by overnight or other similar courier and addressed to the party to be notified at the address for such party as provided in this Agreement, or to such other address as each party may designate for itself by like notice. Ownership Tools, equipment and software used by the Foundation to provide service to the Gift Fund shall remain the property of the Foundation and/or its licensors, and no right, title, license or interest in any of them is conveyed to the Gift Fund by this Agreement. Acknowledgment of Charitable Donations on Behalf of the Gift Fund The Foundation agrees that it will acknowledge to donors all contributions to the Gift Fund in accordance with the guidelines established by the Internal Revenue Service. Investments The undersigned acknowledge and agree that they have been advised by the Foundation that current IRS regulations or rulings permit Gift Fund Advisor(s) to designate investment preferences but require the Foundation to retain final discretion regarding such investments. The undersigned understand that investments will be administered in accordance with the policies of the Foundation. The undersigned acknowledge that the investments in the Gift Fund are subject to market and interest rate fluctuations. The total investment return of each investment manager is net of investment expenses. Confidentiality The Foundation agrees not to use any confidential information provided in connection with this Agreement for purposes other than those for which it was provided, without receiving prior consent. Indemnity In consideration of the Foundation’s creating a Gift Fund at the request of the undersigned individual(s) or entity and for other good and valuable consideration, the undersigned hereby agree to indemnify and hold harmless the Foundation against any liability, cost, or expense which the Foundation may incur by reason of its acting upon instructions or recommendations given to the Foundation by any of the undersigned or by persons authorized to make recommendations with regard to the Gift Fund. Severability The provisions of this Agreement are severable, and the invalidity or unenforceability of any one or more of such provisions shall not affect the validity or enforceability of the remainder of this Agreement which shall remain in full force and effect. Variance Power It is understood that the Gift Fund to be established pursuant to this agreement will be subject to the provisions of the Charter and Bylaws of the Foundation, as may be amended from time to time, including the power reserved by the Board of Directors to modify any condition or restriction on the distribution of funds if in its sole judgment (without the approval of any trustee, custodian, or agent), such restriction or condition becomes, in effect, unnecessary, incapable of fulfillment, or inconsistent with the charitable needs of the area served by the Foundation. Amendment of Agreement Subject to the provisions of the paragraph herein entitled “Variance Power,” this Agreement and any addendums attached hereto shall constitute the entire agreement of the parties and supersedes all prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof. Subject to the provisions of the paragraph herein entitled “Variance Power,” this Agreement, including any exhibits or attachments hereto, may not be amended or modified, except in a writing signed by all parties to this Agreement. Governing Law This Agreement is made subject to and shall be construed under the laws of the State of North Carolina, without giving effect to its conflict of laws principles. This Agreement may be executed in several counterparts, each of which shall be deemed an original, and all of which shall constitute one and the same instrument. Signatures By signing below, Opening Donor(s) and Advisor 1, if applicable, hereby acknowledge that they have read, understand and hereby agree to the provisions of this Agreement and that the information provided herein is accurate to the best of their knowledge. Opening Donor 1 Opening Donor 2 (if applicable) SIGNATURE SIGNATURE NAME (please print) NAME (please print) TITLE (for institutional donors) TITLE (for institutional donors) DATE DATE Advisor 1 (sign if different from Opening Donor) Foundation For The Carolinas SIGNATURE BY NAME (please print) TITLE TITLE DATE DATE SUBSIDIARY FOUNDATION BY TITLE DATE Addendum I – Gift Fund Investment Recommendation Form (See following page) investment recommendation form gift funds Foundation For The Carolinas offers fundholders diverse investment options to grow fund assets for maximum philanthropic impact. Please select one of the following investment pools based on the anticipated needs for your gift fund (please note: requested changes to your fund’s investment pool will generally take effect on the first day of the following month after your completed form is received). For additional information on FFTC’s investment pools, visit xxx.xxxx.xxx/xxxxx. Investment Pools Fund Type Pool choices for gift funds between $10,000 - $50,000 Non-Endowed Endowed Liquid Reserves Pool Low Duration Fixed Income Pool Pool choices for gift funds greater than $50,000 Liquid Reserves Pool Low Duration Fixed Income Pool Income & Growth Pool Moderate Growth Pool Passive Diversified Growth Pool Non-Endowed Diversified Long-Term Growth Pool Endowed Diversified Long-Term Growth Pool Investment Alliance Program For funds that maintain an asset balance greater than $250,000, you may recommend a specific investment manager from outside FFTC’s core investment pool to manage the fund portfolio (FFTC’s Investment Committee must approve the recommended manager): Anticipated Distribution Horizon (in years) By signing below, I (we) understand that all gift funds are subject to the policies of Foundation For The Carolinas as set forth in the Charitable Giving Guide. The investment recommendation selected above includes careful consideration of the anticipated annual spending and grantmaking plans for the gift fund. Gift Fund Name & Number: Signature of Advisor: Print name: Date: Please email the completed form to xxxxxxxxxxx@xxxx.xxx.Form
Appears in 1 contract
Samples: www.fftc.org
Please refer to The Charitable Giving Guide for further information. If the Donor desires fundraising activities to be conducted in connection with the Gift Fund established under this Agreement, then prior approval of Foundation Staff and additional documentation are required. If fundraising activities have been discussed with and approved for the Gift Fund, then an authorized Foundation Staff member should check the box and initial below. □ Fundraising approved (please initial) Addenda Please indicate additional addenda attached to this Agreement, if any. Are any addenda (other than Addendum I – Gift Fund Investment Recommendation Form) attached to this Agreement? □ Yes □ No If so, please list here: Notes Use this section to provide any information not addressed elsewhere in this Agreement or to complete any sections of the Agreement where space was otherwise too limited. Additional Provisions Your signature on the following page acknowledges that you have read, understand and agree to the provisions below. Protection of Tax-Exempt Status. The undersigned agree to comply with any written direction by the Foundation to cease recommending grants or distributions or conducting activities that may jeopardize the Foundation’s tax status or otherwise subject the Foundation or the Gift Fund to excise taxes that are applicable to donor-advised funds as defined in the Internal Revenue Code (the “Code”). Charitable Giving Guide The undersigned have received and reviewed The Charitable Giving Guide and agree to the terms thereof. Accuracy of Information The undersigned hereby certify that all information presented in connection with this Agreement is accurate to the best knowledge of the undersigned and will promptly notify the Foundation in writing of any changes. Use of Funds The Foundation will make distributions from the Gift Fund to carry out the charitable purposes of the Gift Fund in accordance with the Code. Written requests for charitable grants or distributions from the Gift Fund should be made at least ten days prior to the date when payment is to be made. The Foundation’s ability to make reimbursements to any individual for expenditures or to make a grant or distribution for any non-charitable purpose or to any non-charitable entity is generally disallowed by the Code. Advisors wishing to recommend any such reimbursement, grant or distribution should discuss it with the Foundation’s Finance & Donor Relations Team before engaging in any activity that might otherwise lead the Advisor to an expectation that any such payment would be appropriate. Please refer to The Charitable Giving Guide for more information. Endowed Gift Funds The undersigned understand and acknowledge that any Endowed Gift Fund created under this Agreement (with the Foundation or any of its affiliates or supporting organizations) is a permanent Gift Fund and that only the annual Spendable Amount will be available for distribution (as further addressed in the section hereof entitled “Spendable Amount”). Irrevocable Gifts The undersigned understand that any contribution to a Gift Fund, once accepted by the Board of Directors of the Foundation, represents an irrevocable gift to the Foundation and is not refundable. Succession Plans In the event that the undersigned shall not have designated a Succession Plan (see the section entitled Succession Plan in this agreement), then the succession plan policy and procedure contained in The Charitable Giving Guide which is incorporated by reference shall apply and the Foundation shall have no liability to any party for carrying out such policy and procedure. Service Charges The Foundation shall be entitled to receive as compensation for its services in investing, administering and distributing the assets held in the Gift Fund created hereunder the service charges set out in the Foundation’s regular schedule of compensation applicable at the time of the performance of such services; provided, however, that if the Foundation’s Custom service level applies to the Gift Fund, then the Foundation shall be entitled to receive as compensation the service charges as provided in the separate Custom Service Level Addendum attached hereto. Notice All communications required hereunder shall be in writing and shall be deemed to have been validly served, given or delivered (i) three (3) business days after deposit of same in the United States mail, designated as registered or certified mail, return receipt requested, bearing adequate postage, or (ii) on the date of delivery to such party if delivered by hand or by overnight or other similar courier and addressed to the party to be notified at the address for such party as provided in this Agreement, or to such other address as each party may designate for itself by like notice. Ownership Tools, equipment and software used by the Foundation to provide service to the Gift Fund shall remain the property of the Foundation and/or its licensors, and no right, title, license or interest in any of them is conveyed to the Gift Fund by this Agreement. Acknowledgment of Charitable Donations on Behalf of the Gift Fund The Foundation agrees that it will acknowledge to donors all contributions to the Gift Fund in accordance with the guidelines established by the Internal Revenue Service. Investments The undersigned acknowledge and agree that they have been advised by the Foundation that current IRS regulations or rulings permit Gift Fund Advisor(s) to designate investment preferences but require the Foundation to retain final discretion regarding such investments. The undersigned understand that investments will be administered in accordance with the policies of the Foundation. The undersigned acknowledge that the investments in the Gift Fund are subject to market and interest rate fluctuations. The total investment return of each investment manager is net of investment expenses. Confidentiality The Foundation agrees not to use any confidential information provided in connection with this Agreement for purposes other than those for which it was provided, without receiving prior consent. Indemnity In consideration of the Foundation’s creating a Gift Fund at the request of the undersigned individual(s) or entity and for other good and valuable consideration, the undersigned hereby agree to indemnify and hold harmless the Foundation against any liability, cost, or expense which the Foundation may incur by reason of its acting upon instructions or recommendations given to the Foundation by any of the undersigned or by persons authorized to make recommendations with regard to the Gift Fund. Severability The provisions of this Agreement are severable, and the invalidity or unenforceability of any one or more of such provisions shall not affect the validity or enforceability of the remainder of this Agreement which shall remain in full force and effect. Variance Power It is understood that the Gift Fund to be established pursuant to this agreement will be subject to the provisions of the Charter and Bylaws of the Foundation, as may be amended from time to time, including the power reserved by the Board of Directors to modify any condition or restriction on the distribution of funds if in its sole judgment (without the approval of any trustee, custodian, or agent), such restriction or condition becomes, in effect, unnecessary, incapable of fulfillment, or inconsistent with the charitable needs of the area served by the Foundation. Amendment of Agreement Subject to the provisions of the paragraph herein entitled “Variance Power,” this Agreement and any addendums attached hereto shall constitute the entire agreement of the parties and supersedes all prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof. Subject to the provisions of the paragraph herein entitled “Variance Power,” this Agreement, including any exhibits or attachments hereto, may not be amended or modified, except in a writing signed by all parties to this Agreement. Governing Law This Agreement is made subject to and shall be construed under the laws of the State of North Carolina, without giving effect to its conflict of laws principles. This Agreement may be executed in several counterparts, each of which shall be deemed an original, and all of which shall constitute one and the same instrument. Signatures By signing below, Opening Donor(s) and Advisor 1, if applicable, hereby acknowledge that they have read, understand and hereby agree to the provisions of this Agreement and that the information provided herein is accurate to the best of their knowledge. Opening Donor 1 Opening Donor 2 (if applicable) SIGNATURE SIGNATURE NAME (please print) NAME (please print) TITLE (for institutional donors) TITLE (for institutional donors) DATE DATE Advisor 1 (sign if different from Opening Donor) Foundation For The Carolinas SUBSIDIARY FOUNDATION SIGNATURE BY NAME (please print) TITLE TITLE DATE DATE SUBSIDIARY FOUNDATION BY TITLE DATE Addendum I – Gift Fund Investment Recommendation Form (See following page) investment recommendation form gift funds Foundation For The Carolinas offers fundholders diverse investment options to grow fund assets for maximum philanthropic impact. Please select one of the following investment pools based on the anticipated needs for your gift fund (please note: requested changes to your fund’s investment pool will generally take effect on the first day of the following month after your completed form is received). For additional information on FFTC’s investment pools, visit xxx.xxxx.xxx/xxxxx. Investment Pools Fund Type Pool choices for gift funds between $10,000 - $50,000 Non-Endowed Endowed Liquid Reserves Pool Low Duration Fixed Income Pool Pool choices for gift funds greater than $50,000 Liquid Reserves Pool Low Duration Fixed Income Pool Income & Growth Pool Moderate Passive Long-Term Growth Pool (formerly Passive Diversified) Passive Diversified Active Long-Term Growth Pool (formerly Moderage Growth) Non-Endowed Diversified Long-Term Growth Pool (formerly Endowed & Non-Endowed) * Endowed Diversified *Please note that due to the nature of the investments included in the Long-Term Growth Pool pool, liquidity restrictions apply. Please reference further details in the Charitable Giving Guide. Investment Alliance Program For funds that maintain an asset balance greater than $250,000, you may recommend a specific investment manager from outside FFTC’s core investment pool to manage the fund portfolio (FFTC’s Investment Committee must approve the recommended manager): Anticipated Distribution Horizon (in years) Diversified Long-Term Growth (formerly Endowed/Nonendowed) Passive Long-Term Growth (formerly Passive Diversified Growth) Active Long-Term Growth (formerly Moderate Growth) Income & Growth Low Duration Fixed Income Less Diversified More Diversified Liquid Reserves By signing below, I (we) understand that all gift funds are subject to the policies of Foundation For The Carolinas as set forth in the Charitable Giving Guide. The investment recommendation selected above includes careful consideration of the anticipated annual spending and grantmaking plans for the gift fund. Gift Fund Name & Number: Signature of Advisor: Print name: Date: Please email the completed form to xxxxxxxxxxx@xxxx.xxx. Foundation For The Carolinas does not provide tax, legal or investment advice. The information in our publications and on our website is general in nature, and is not intended to be a substitute for consulting your legal, tax or investment advisor regarding your particular situation. Any performance data is based on past performance and is no guarantee of future results.
Appears in 1 contract
Samples: www.fftc.org
Please refer to The Charitable Giving Guide for further information. If the Donor desires fundraising activities to be conducted in connection with the Gift Agency Fund established under this Agreement, then prior approval of Foundation Staff and additional documentation are required. If fundraising activities have been discussed with and approved for the Gift Agency Fund, then an authorized Foundation Staff member should check the box and initial below. □ Fundraising approved (please initial) Addenda Please indicate additional addenda attached to this Agreement, if any. Are any addenda (other than Addendum I – Gift Agency Fund Investment Recommendation Form) attached to this Agreement? □ 🞏 Yes □ 🞎 No If so, please list here: Notes Use this section to provide any information not addressed elsewhere in this Agreement or to complete any sections of the Agreement where space was otherwise too limited. Additional Provisions Your signature on the following page acknowledges that you have read, understand and agree to the provisions below. Protection of Tax-Exempt Status. Status The undersigned agree to comply with any written direction by the Foundation to cease recommending grants or distributions or conducting activities that may jeopardize the Foundation’s tax status or otherwise subject the Foundation or the Gift Agency Fund to excise taxes that are applicable to donor-advised funds as defined in the Internal Revenue Code (the “Code”). Charitable Giving Guide The undersigned have received and reviewed The Charitable Giving Guide and agree to the terms thereof. Accuracy of Information The undersigned hereby certify that all information presented in connection with this Agreement is accurate to the best knowledge of the undersigned and will promptly notify the Foundation in writing of any changes. Use of Funds The Foundation will make distributions from the Gift Agency Fund to carry out the charitable purposes of the Gift Agency Fund in accordance with the Code. Written requests for charitable grants or distributions from the Gift Agency Fund should be made at least ten days prior to the date when payment is to be made. The Foundation’s ability to make reimbursements to any individual for expenditures or to make a grant or distribution for any non-charitable purpose or to any non-charitable entity is generally disallowed by the Code. Advisors Representatives wishing to recommend any such reimbursement, grant or distribution should discuss it with the Foundation’s Finance & Donor Relations Team before engaging in any activity that might otherwise lead the Advisor Representative to an expectation that any such payment would be appropriate. Please refer to The Charitable Giving Guide for more information. Endowed Gift Agency Funds The undersigned understand and acknowledge that any Endowed Gift Agency Fund created under this Agreement (with the Foundation or any of its affiliates or supporting organizations) is a permanent Gift Agency Fund and that only the annual Spendable Amount will be available for distribution (as further addressed in the section hereof entitled “Spendable Amount”). Irrevocable Gifts The undersigned understand that any contribution to a Gift an Agency Fund, once accepted by the Board of Directors of the Foundation, represents an irrevocable gift to the Foundation and is not refundable. Succession Plans In the event that the undersigned shall not have designated a Succession Plan (see the section entitled Succession Plan in this agreement)Plan, then the succession plan policy and procedure contained in The Charitable Giving Guide which is incorporated by reference shall apply and the Foundation shall have no liability to any party for carrying out such policy and procedure. Service Charges The Foundation shall be entitled to receive as compensation for its services in investing, administering and distributing the assets held in the Gift Agency Fund created hereunder the service charges set out in the Foundation’s regular schedule of compensation applicable at the time of the performance of such services; provided, however, that if the Foundation’s Custom service level applies to the Gift Agency Fund, then the Foundation shall be entitled to receive as compensation the service charges as provided in the separate Custom Service Level Addendum attached hereto. Notice All communications required hereunder shall be in writing and shall be deemed to have been validly served, given or delivered (i) three (3) business days after deposit of same in the United States mail, designated as registered or certified mail, return receipt requested, bearing adequate postage, or (ii) on the date of delivery to such party if delivered by hand or by overnight or other similar courier and addressed to the party to be notified at the address for such party as provided in this Agreement, or to such other address as each party may designate for itself by like notice. Ownership Tools, equipment and software used by the Foundation to provide service to the Gift Agency Fund shall remain the property of the Foundation and/or its licensors, and no right, title, license or interest in any of them is conveyed to the Gift Agency Fund by this Agreement. Acknowledgment of Charitable Donations on Behalf of the Gift Fund Agency Fund. The Foundation agrees that it will acknowledge to donors all contributions to the Gift Agency Fund in accordance with the guidelines established by the Internal Revenue Service. Investments The undersigned acknowledge and agree that they have been advised by the Foundation that current IRS regulations or rulings permit Gift Agency Fund Advisor(sRepresentative(s) to designate investment preferences but require the Foundation to retain final discretion regarding such investments. The undersigned understand that investments will be administered in accordance with the policies of the Foundation. The undersigned acknowledge that the investments in the Gift Agency Fund are subject to market and interest rate fluctuations. The total investment return of each investment manager is net of investment expenses. Confidentiality The Foundation agrees not to use any confidential information provided in connection with this Agreement for purposes other than those for which it was provided, without receiving prior consent. Indemnity In consideration of the Foundation’s creating a Gift an Agency Fund at the request of the undersigned individual(s) or entity and for other good and valuable consideration, the undersigned hereby agree to indemnify and hold harmless the Foundation against any liability, cost, or expense which the Foundation may incur by reason of its acting upon instructions or recommendations given to the Foundation by any of the undersigned or by persons authorized to make recommendations with regard to the Gift Agency Fund. Severability The provisions of this Agreement are severable, and the invalidity or unenforceability of any one or more of such provisions shall not affect the validity or enforceability of the remainder of this Agreement which shall remain in full force and effect. Variance Power It is understood that the Gift Agency Fund to be established pursuant to this agreement will be subject to the provisions of the Charter and Bylaws of the Foundation, as may be amended from time to time, including the power reserved by the Board of Directors to modify any condition or restriction on the distribution of funds if in its sole judgment (without the approval of any trustee, custodian, or agent), such restriction or condition becomes, in effect, unnecessary, incapable of fulfillment, or inconsistent with the charitable needs of the area served by the Foundation. Amendment of Agreement Subject to the provisions of the paragraph herein entitled “Variance Power,” this Agreement and any addendums attached hereto shall constitute the entire agreement of the parties and supersedes all prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof. Subject to the provisions of the paragraph herein entitled “Variance Power,” this Agreement, including any exhibits or attachments hereto, may not be amended or modified, except in a writing signed by all parties to this Agreement. Governing Law This Agreement is made subject to and shall be construed under the laws of the State of North Carolina, without giving effect to its conflict of laws principles. This Agreement may be executed in several counterparts, each of which shall be deemed an original, and all of which shall constitute one and the same instrument. Signatures By signing below, Opening Donor(s) and Advisor 1, if applicable, The undersigned hereby acknowledge that they have read, understand and hereby agree to the provisions of this Agreement and that the information provided herein is accurate to the best of their knowledge. Opening Donor Nonprofit Organization Representative 1 Opening Donor 2 (if applicable) SIGNATURE SIGNATURE NAME (please print) NAME (please print) TITLE (for institutional donors) TITLE (for institutional donors) DATE DATE Advisor 1 (sign if different from Opening Donor) Foundation For The Carolinas SIGNATURE BY NAME (please print) TITLE TITLE ROLE(S) WITH ORGANIZATION DATE DATE SUBSIDIARY FOUNDATION BY TITLE Nonprofit Organization Representative 2 SIGNATURE NAME (please print) ROLE(S) WITH ORGANIZATION DATE Addendum I – Gift Agency Fund Investment Recommendation Form (See following page) investment recommendation invEstmEnt rEcommEndation form gift agEncY funds Foundation For The Carolinas offers fundholders diverse investment options to grow fund assets for maximum philanthropic impact. Please select one of the following investment pools based on the anticipated needs for your gift agency fund (please note: requested changes to your fund’s investment pool will generally take effect on the first day of the following month after your completed form is received). For additional information on FFTC’s investment pools, visit xxx.xxxx.xxx/xxxxx. Investment Pools Fund Type Pool choices for gift funds between $10,000 - $50,000 Non-Endowed Quasi-Endowed Endowed Liquid Reserves Pool ✓ Low Duration Fixed Income Pool Pool choices for gift funds greater than $50,000 Liquid Reserves Pool Low Duration Fixed Income Pool ✓ Income & Growth Pool ✓ Moderate Growth Pool ✓ ✓ ✓ Passive Diversified Growth Pool ✓ ✓ ✓ Non-Endowed Diversified Long-Term Growth Pool ✓ ✓ ✓ Endowed Diversified Long-Term Growth Pool Investment Alliance Program For funds that maintain an asset balance greater than $250,000, you may recommend a specific investment manager from outside FFTC’s core investment pool to manage the fund portfolio (FFTC’s Investment Committee must approve the recommended manager): ✓ Anticipated Distribution Horizon (in years) By signing below, I (we) understand that all gift agency funds are subject to the policies of Foundation For The Carolinas as set forth in the Charitable Giving Guide. The investment recommendation selected above includes careful consideration of the anticipated annual spending and grantmaking distribution plans for the gift agency fund. Gift Agency Fund Name & Number: Signature of AdvisorRepresentative: Print name: Date: Please email the completed form to xxxxxxxxxxx@xxxx.xxx. Foundation For The Carolinas does not provide tax, legal or investment advice. The information in our publications and on our website is general in nature, and is not intended to be a substitute for consulting your legal, tax or investment advisor regarding your particular situation. Any performance data is based on past performance and is no guarantee of future results.
Appears in 1 contract
Samples: fftc.org
Please refer to The Charitable Giving Guide for further information. If the Donor desires fundraising activities to be conducted in connection with the Gift Agency Fund established under this Agreement, then prior approval of Foundation Staff and additional documentation are required. If fundraising activities have been discussed with and approved for the Gift Agency Fund, then an authorized Foundation Staff member should check the box and initial below. □ Fundraising approved (please initial) Addenda Please indicate additional addenda attached to this Agreement, if any. Are any addenda (other than Addendum I – Gift Agency Fund Investment Recommendation Form) attached to this Agreement? □ 🞏 Yes □ 🞎 No If so, please list here: Notes Use this section to provide any information not addressed elsewhere in this Agreement or to complete any sections of the Agreement where space was otherwise too limited. Additional Provisions Your signature on the following page acknowledges that you have read, understand and agree to the provisions below. Protection of Tax-Exempt Status. Status The undersigned agree to comply with any written direction by the Foundation to cease recommending grants or distributions or conducting activities that may jeopardize the Foundation’s tax status or otherwise subject the Foundation or the Gift Agency Fund to excise taxes that are applicable to donor-advised funds as defined in the Internal Revenue Code (the “Code”). Charitable Giving Guide The undersigned have received and reviewed The Charitable Giving Guide and agree to the terms thereof. Accuracy of Information The undersigned hereby certify that all information presented in connection with this Agreement is accurate to the best knowledge of the undersigned and will promptly notify the Foundation in writing of any changes. Use of Funds The Foundation will make distributions from the Gift Agency Fund to carry out the charitable purposes of the Gift Agency Fund in accordance with the Code. Written requests for charitable grants or distributions from the Gift Agency Fund should be made at least ten days prior to the date when payment is to be made. The Foundation’s ability to make reimbursements to any individual for expenditures or to make a grant or distribution for any non-charitable purpose or to any non-charitable entity is generally disallowed by the Code. Advisors Representatives wishing to recommend any such reimbursement, grant or distribution should discuss it with the Foundation’s Finance & Donor Relations Team before engaging in any activity that might otherwise lead the Advisor Representative to an expectation that any such payment would be appropriate. Please refer to The Charitable Giving Guide for more information. Endowed Gift Agency Funds The undersigned understand and acknowledge that any Endowed Gift Agency Fund created under this Agreement (with the Foundation or any of its affiliates or supporting organizations) is a permanent Gift Agency Fund and that only the annual Spendable Amount will be available for distribution (as further addressed in the section hereof entitled “Spendable Amount”). Irrevocable Gifts The undersigned understand that any contribution to a Gift an Agency Fund, once accepted by the Board of Directors of the Foundation, represents an irrevocable gift to the Foundation and is not refundable. Succession Plans In the event that the undersigned shall not have designated a Succession Plan (see the section entitled Succession Plan in this agreement)Plan, then the succession plan policy and procedure contained in The Charitable Giving Guide which is incorporated by reference shall apply and the Foundation shall have no liability to any party for carrying out such policy and procedure. Service Charges The Foundation shall be entitled to receive as compensation for its services in investing, administering and distributing the assets held in the Gift Agency Fund created hereunder the service charges set out in the Foundation’s regular schedule of compensation applicable at the time of the performance of such services; provided, however, that if the Foundation’s Custom service level applies to the Gift Agency Fund, then the Foundation shall be entitled to receive as compensation the service charges as provided in the separate Custom Service Level Addendum attached hereto. Notice All communications required hereunder shall be in writing and shall be deemed to have been validly served, given or delivered (i) three (3) business days after deposit of same in the United States mail, designated as registered or certified mail, return receipt requested, bearing adequate postage, or (ii) on the date of delivery to such party if delivered by hand or by overnight or other similar courier and addressed to the party to be notified at the address for such party as provided in this Agreement, or to such other address as each party may designate for itself by like notice. Ownership Tools, equipment and software used by the Foundation to provide service to the Gift Agency Fund shall remain the property of the Foundation and/or its licensors, and no right, title, license or interest in any of them is conveyed to the Gift Agency Fund by this Agreement. Acknowledgment of Charitable Donations on Behalf of the Gift Fund Agency Fund. The Foundation agrees that it will acknowledge to donors all contributions to the Gift Agency Fund in accordance with the guidelines established by the Internal Revenue Service. Investments The undersigned acknowledge and agree that they have been advised by the Foundation that current IRS regulations or rulings permit Gift Agency Fund Advisor(sRepresentative(s) to designate investment preferences but require the Foundation to retain final discretion regarding such investments. The undersigned understand that investments will be administered in accordance with the policies of the Foundation. The undersigned acknowledge that the investments in the Gift Agency Fund are subject to market and interest rate fluctuations. The total investment return of each investment manager is net of investment expenses. Confidentiality The Foundation agrees not to use any confidential information provided in connection with this Agreement for purposes other than those for which it was provided, without receiving prior consent. Indemnity In consideration of the Foundation’s creating a Gift an Agency Fund at the request of the undersigned individual(s) or entity and for other good and valuable consideration, the undersigned hereby agree to indemnify and hold harmless the Foundation against any liability, cost, or expense which the Foundation may incur by reason of its acting upon instructions or recommendations given to the Foundation by any of the undersigned or by persons authorized to make recommendations with regard to the Gift Agency Fund. Severability The provisions of this Agreement are severable, and the invalidity or unenforceability of any one or more of such provisions shall not affect the validity or enforceability of the remainder of this Agreement which shall remain in full force and effect. Variance Power It is understood that the Gift Agency Fund to be established pursuant to this agreement will be subject to the provisions of the Charter and Bylaws of the Foundation, as may be amended from time to time, including the power reserved by the Board of Directors to modify any condition or restriction on the distribution of funds if in its sole judgment (without the approval of any trustee, custodian, or agent), such restriction or condition becomes, in effect, unnecessary, incapable of fulfillment, or inconsistent with the charitable needs of the area served by the Foundation. Amendment of Agreement Subject to the provisions of the paragraph herein entitled “Variance Power,” this Agreement and any addendums attached hereto shall constitute the entire agreement of the parties and supersedes all prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof. Subject to the provisions of the paragraph herein entitled “Variance Power,” this Agreement, including any exhibits or attachments hereto, may not be amended or modified, except in a writing signed by all parties to this Agreement. Governing Law This Agreement is made subject to and shall be construed under the laws of the State of North Carolina, without giving effect to its conflict of laws principles. This Agreement may be executed in several counterparts, each of which shall be deemed an original, and all of which shall constitute one and the same instrument. Signatures By signing below, Opening Donor(s) and Advisor 1, if applicable, The undersigned hereby acknowledge that they have read, understand and hereby agree to the provisions of this Agreement and that the information provided herein is accurate to the best of their knowledge. Opening Donor Nonprofit Organization Representative 1 Opening Donor 2 (if applicable) SIGNATURE SIGNATURE NAME (please print) NAME (please print) TITLE (for institutional donors) TITLE (for institutional donors) DATE DATE Advisor 1 (sign if different from Opening Donor) Foundation For The Carolinas SIGNATURE BY NAME (please print) TITLE TITLE ROLE(S) WITH ORGANIZATION DATE DATE SUBSIDIARY FOUNDATION BY TITLE Nonprofit Organization Representative 2 SIGNATURE NAME (please print) ROLE(S) WITH ORGANIZATION DATE Addendum I – Gift Agency Fund Investment Recommendation Form (See following page) investment recommendation invEstmEnt rEcommEndation form gift agEncY funds Foundation For The Carolinas offers fundholders diverse investment options to grow fund assets for maximum philanthropic impact. Please select one of the following investment pools based on the anticipated needs for your gift agency fund (please note: requested changes to your fund’s investment pool will generally take effect on the first day of the following month after your completed form is received). For additional information on FFTC’s investment pools, visit xxx.xxxx.xxx/xxxxx. Investment Pools Fund Type Pool choices for gift funds between $10,000 - $50,000 Non-Endowed Quasi-Endowed Endowed Liquid Reserves Pool ✓ Low Duration Fixed Income Pool Pool choices for gift funds greater than $50,000 Liquid Reserves Pool Low Duration Fixed Income Pool ✓ Income & Growth Pool ✓ Passive Long-Term Growth (formerly Passive Diversified) ✓ ✓ ✓ Active Long-Term Growth (formerly Moderate Growth Pool Passive Diversified Growth Pool Non-Endowed Growth) ✓ ✓ ✓ Diversified Long-Term Growth Pool (formerly Endowed Diversified Long-Term Growth Pool Investment Alliance Program For funds that maintain an asset balance greater & NonEndowed) ✓* ✓* ✓ *Restrictions on withdrawals apply depending upon the fund balance. Less than $250,0001M – Available within 90 days; $1M - $5M – 80% available within 90 days, you may recommend a specific investment manager from outside FFTC’s core investment pool to manage the fund portfolio (FFTC’s Investment Committee must approve the recommended remainder within 1YR; Greater than $5M, please contact relationship manager): . Anticipated Distribution Horizon (in years) Diversified Long-Term Growth Passive Long-Term Growth Active Long-Term Growth Income & Growth Low Duration Fixed Income Less Diversified More Diversified Liquid Reserves By signing below, I (we) understand that all gift agency funds are subject to the policies of Foundation For The Carolinas as set forth in the Charitable Giving GuideGuide and if applicable, understand the liquidity terms described above. The investment recommendation selected above includes careful consideration of the anticipated annual spending and grantmaking distribution plans for the gift agency fund. Gift Agency Fund Name & Number: Signature of AdvisorRepresentative: Print name: Date: Please email the completed form to xxxxxxxxxxx@xxxx.xxx. Foundation For The Carolinas does not provide tax, legal or investment advice. The information in our publications and on our website is general in nature, and is not intended to be a substitute for consulting your legal, tax or investment advisor regarding your particular situation. Any performance data is based on past performance and is no guarantee of future results.
Appears in 1 contract
Samples: www.fftc.org
Please refer to The Charitable Giving Guide for further information. If the Donor desires fundraising activities to be conducted in connection with the Gift Agency Fund established under this Agreement, then prior approval of Foundation Staff and additional documentation are required. If fundraising activities have been discussed with and approved for the Gift Agency Fund, then an authorized Foundation Staff member should check the box and initial below. □ Fundraising approved (please FFTC initial) Addenda Please indicate additional addenda attached to this Agreement, if any. Are Please check the following box if any addenda (other than Addendum I – Gift Agency Fund Investment Recommendation Form) Form are attached to this Agreement? □ Yes □ No If so, please list hereAdditional addenda are attached and listed below: Notes Use this section to provide any information not addressed elsewhere in this Agreement or to complete any sections of the Agreement where space was otherwise too limited. Additional Provisions Your signature on the following page acknowledges that you have read, understand and agree to the provisions below. Protection of Tax-Exempt Status. Status The undersigned agree to comply with any written direction by the Foundation to cease recommending grants or distributions or conducting activities that may jeopardize the Foundation’s tax status or otherwise subject the Foundation or the Gift Agency Fund to excise taxes that are applicable to donor-advised funds as defined in the Internal Revenue Code (the “Code”). Charitable Giving Guide The undersigned have received and reviewed The the Charitable Giving Guide and agree to the terms thereof. Accuracy of Information The undersigned hereby certify that all information presented in connection with this Agreement is accurate to the best knowledge of the undersigned and will promptly notify the Foundation in writing of any changes. Use of Funds The Foundation will make distributions from the Gift Agency Fund to carry out the charitable purposes of the Gift Agency Fund in accordance with the Code. Written requests Requests for charitable grants or distributions from the Gift Agency Fund should be made at least ten days prior to the date when payment is to be made. The Foundation’s ability to make reimbursements to any individual for expenditures or to make a grant or distribution for any non-non- charitable purpose or to any non-charitable entity is generally disallowed by the Code. Advisors Representatives wishing to recommend any such reimbursement, grant or distribution should discuss it with the Foundation’s Finance & Donor Relations Team before engaging in any activity that might otherwise lead the Advisor Representative to an expectation that any such payment would be appropriate. Please refer to The the Charitable Giving Guide for more information. Endowed Gift Agency Funds The undersigned understand and acknowledge that any Endowed Gift Agency Fund created under this Agreement (with the Foundation or any of its affiliates or supporting organizations) is a permanent Gift Agency Fund and that only the annual Spendable Amount will be available for distribution (as further addressed in the section hereof entitled “Spendable Amount”). Irrevocable Gifts The undersigned understand that any contribution to a Gift an Agency Fund, once accepted by the Board of Directors of the Foundation, represents an irrevocable gift to the Foundation and is not refundable. Succession Plans In the event that the undersigned shall not have designated a Succession Plan (see the section entitled Succession Plan in this agreement)Plan, then the succession plan policy and procedure contained in The the Charitable Giving Guide which is incorporated by reference shall apply and the Foundation shall have no liability to any party for carrying out such policy and procedure. Service Charges The Foundation shall be entitled to receive as compensation for its services in investing, administering and distributing the assets held in the Gift Agency Fund created hereunder the service charges set out in the Foundation’s regular schedule of compensation applicable at the time of the performance of such services; provided, however, that if the Foundation’s Custom custom service level applies to the Gift Agency Fund, then the Foundation shall be entitled to receive as compensation the service charges as provided in the separate Custom Service Level Addendum attached hereto. Notice All communications required hereunder shall be in writing and shall be deemed to have been validly served, given or delivered (i) three (3) business days after deposit of same in the United States mail, designated as registered or certified mail, return receipt requested, bearing adequate postage, or (ii) on the date of delivery to such party if delivered by hand or by overnight or other similar courier and addressed to the party to be notified at the address for such party as provided in this Agreement, or to such other address as each party may designate for itself by like notice. Ownership Tools, equipment and software used by the Foundation to provide service to the Gift Agency Fund shall remain the property of the Foundation and/or its licensors, and no right, title, license or interest in any of them is conveyed to the Gift Agency Fund by this Agreement. Acknowledgment of Charitable Donations on Behalf of the Gift Agency Fund The Foundation agrees that it will acknowledge to donors all contributions to the Gift Agency Fund in accordance with the guidelines established by the Internal Revenue Service. Investments The undersigned acknowledge and agree that they have been advised by the Foundation that current IRS regulations or rulings permit Gift Agency Fund Advisor(sRepresentative(s) to designate investment preferences but require the Foundation to retain final discretion regarding such investments. The undersigned understand that investments will be administered in accordance with the policies of the Foundation. The undersigned acknowledge that the investments in the Gift Agency Fund are subject to market and interest rate fluctuations. The total investment return of each investment manager is net of investment expenses. Confidentiality The Foundation agrees not to use any confidential information provided in connection with this Agreement for purposes other than those for which it was provided, without receiving prior consent. Indemnity In consideration of the Foundation’s creating a Gift an Agency Fund at the request of the undersigned individual(s) or entity and for other good and valuable consideration, the undersigned hereby agree to indemnify and hold harmless the Foundation against any liability, cost, or expense which the Foundation may incur by reason of its acting upon instructions or recommendations given to the Foundation by any of the undersigned or by persons authorized to make recommendations with regard to the Gift Agency Fund. Severability The provisions of this Agreement are severable, and the invalidity or unenforceability of any one or more of such provisions shall not affect the validity or enforceability of the remainder of this Agreement which shall remain in full force and effect. Variance Power It is understood that the Gift Agency Fund to be established pursuant to this agreement will be subject to the provisions of the Charter and Bylaws of the Foundation, as may be amended from time to time, including the power reserved by the Board of Directors to modify any condition or restriction on the distribution of funds if in its sole judgment (without the approval of any trustee, custodian, or agent), such restriction or condition becomes, in effect, unnecessary, incapable of fulfillment, or inconsistent with the charitable needs of the area served by the Foundation. Amendment of Agreement Subject to the provisions of the paragraph herein entitled “Variance Power,” this Agreement and any addendums attached hereto shall constitute the entire agreement of the parties and supersedes all prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof. Subject to the provisions of the paragraph herein entitled “Variance Power,” this Agreement, including any exhibits or attachments hereto, may not be amended or modified, except in a writing signed by all parties to this Agreement. Governing Law This Agreement is made subject to and shall be construed under the laws of the State of North Carolina, without giving effect to its conflict of laws principles. This Agreement may be executed in several counterparts, each of which shall be deemed an original, and all of which shall constitute one and the same instrument. Signatures By signing below, Opening Donor(s) and Advisor 1, if applicable, The undersigned hereby acknowledge that they have read, understand and hereby agree to the provisions of this Agreement and that the information provided herein is accurate to the best of their knowledge. Opening Donor 1 Opening Donor 2 (if applicable) SIGNATURE SIGNATURE NAME (please print) NAME (please print) TITLE (for institutional donors) TITLE (for institutional donors) DATE DATE Advisor 1 (sign if different from Opening Donor) The undersigned further acknowledge that they are duly authorized by the nonprofit organization to execute and deliver this Agreement and that any necessary corporate action has been taken to grant such authority. Nonprofit Organization Foundation For The Carolinas SIGNATURE BY NAME (please print) TITLE TITLE ROLE(S) WITH ORGANIZATION DATE DATE SUBSIDIARY FOUNDATION BY TITLE DATE Addendum I – Gift Fund Investment Recommendation Form (See following page) investment recommendation form gift funds Foundation For The Carolinas offers fundholders diverse investment options to grow fund assets for maximum philanthropic impact. Please select one of the following investment pools based on the anticipated needs for your gift fund Nonprofit Organization SIGNATURE NAME (please note: requested changes to your fund’s investment pool will generally take effect on the first day of the following month after your completed form is received). For additional information on FFTC’s investment pools, visit xxx.xxxx.xxx/xxxxx. Investment Pools Fund Type Pool choices for gift funds between $10,000 - $50,000 Non-Endowed Endowed Liquid Reserves Pool Low Duration Fixed Income Pool Pool choices for gift funds greater than $50,000 Liquid Reserves Pool Low Duration Fixed Income Pool Income & Growth Pool Moderate Growth Pool Passive Diversified Growth Pool Non-Endowed Diversified Long-Term Growth Pool Endowed Diversified Long-Term Growth Pool Investment Alliance Program For funds that maintain an asset balance greater than $250,000, you may recommend a specific investment manager from outside FFTC’s core investment pool to manage the fund portfolio (FFTC’s Investment Committee must approve the recommended manager): Anticipated Distribution Horizon (in yearsprint) By signing below, I (weROLE(S) understand that all gift funds are subject to the policies of Foundation For The Carolinas as set forth in the Charitable Giving Guide. The investment recommendation selected above includes careful consideration of the anticipated annual spending and grantmaking plans for the gift fund. Gift Fund Name & Number: Signature of Advisor: Print name: Date: Please email the completed form to xxxxxxxxxxx@xxxx.xxx.WITH ORGANIZATION DATE
Appears in 1 contract
Samples: myfftc.org
Please refer to The Charitable Giving Guide for further information. If the Donor desires fundraising activities to be conducted in connection with the Gift Fund established under this Agreement, then prior approval of Foundation Staff and additional documentation are required. If fundraising activities have been discussed with and approved for the Gift Fund, then an authorized Foundation Staff member should check the box and initial below. □ Fundraising approved (please initial) Addenda Please indicate additional addenda attached to this Agreement, if any. Are any addenda (other than Addendum I – Gift Fund Investment Recommendation Form) attached to this Agreement? □ Yes □ No If so, please list here: Notes Use this section to provide any information not addressed elsewhere in this Agreement or to complete any sections of the Agreement where space was otherwise too limited. Additional Provisions Your signature on the following page acknowledges that you have read, understand and agree to the provisions below. Protection of Tax-Exempt Status. The undersigned agree to comply with any written direction by the Foundation to cease recommending grants or distributions or conducting activities that may jeopardize the Foundation’s tax status or otherwise subject the Foundation or the Gift Fund to excise taxes that are applicable to donor-advised funds as defined in the Internal Revenue Code (the “Code”). Charitable Giving Guide The undersigned have received and reviewed The Charitable Giving Guide and agree to the terms thereof. Accuracy of Information The undersigned hereby certify that all information presented in connection with this Agreement is accurate to the best knowledge of the undersigned and will promptly notify the Foundation in writing of any changes. Use of Funds The Foundation will make distributions from the Gift Fund to carry out the charitable purposes of the Gift Fund in accordance with the Code. Written requests for charitable grants or distributions from the Gift Fund should be made at least ten days prior to the date when payment is to be made. The Foundation’s ability to make reimbursements to any individual for expenditures or to make a grant or distribution for any non-charitable purpose or to any non-charitable entity is generally disallowed by the Code. Advisors wishing to recommend any such reimbursement, grant or distribution should discuss it with the Foundation’s Finance & Donor Relations Team before engaging in any activity that might otherwise lead the Advisor to an expectation that any such payment would be appropriate. Please refer to The Charitable Giving Guide for more information. Endowed Gift Funds The undersigned understand and acknowledge that any Endowed Gift Fund created under this Agreement (with the Foundation or any of its affiliates or supporting organizations) is a permanent Gift Fund and that only the annual Spendable Amount will be available for distribution (as further addressed in the section hereof entitled “Spendable Amount”). Irrevocable Gifts The undersigned understand that any contribution to a Gift Fund, once accepted by the Board of Directors of the Foundation, represents an irrevocable gift to the Foundation and is not refundable. Succession Plans In the event that the undersigned shall not have designated a Succession Plan (see the section entitled Succession Plan in this agreement), then the succession plan policy and procedure contained in The Charitable Giving Guide which is incorporated by reference shall apply and the Foundation shall have no liability to any party for carrying out such policy and procedure. Service Charges The Foundation shall be entitled to receive as compensation for its services in investing, administering and distributing the assets held in the Gift Fund created hereunder the service charges set out in the Foundation’s regular schedule of compensation applicable at the time of the performance of such services; provided, however, that if the Foundation’s Custom service level applies to the Gift Fund, then the Foundation shall be entitled to receive as compensation the service charges as provided in the separate Custom Service Level Addendum attached hereto. Notice All communications required hereunder shall be in writing and shall be deemed to have been validly served, given or delivered (i) three (3) business days after deposit of same in the United States mail, designated as registered or certified mail, return receipt requested, bearing adequate postage, or (ii) on the date of delivery to such party if delivered by hand or by overnight or other similar courier and addressed to the party to be notified at the address for such party as provided in this Agreement, or to such other address as each party may designate for itself by like notice. Ownership Tools, equipment and software used by the Foundation to provide service to the Gift Fund shall remain the property of the Foundation and/or its licensors, and no right, title, license or interest in any of them is conveyed to the Gift Fund by this Agreement. Acknowledgment of Charitable Donations on Behalf of the Gift Fund The Foundation agrees that it will acknowledge to donors all contributions to the Gift Fund in accordance with the guidelines established by the Internal Revenue Service. Investments The undersigned acknowledge and agree that they have been advised by the Foundation that current IRS regulations or rulings permit Gift Fund Advisor(s) to designate investment preferences but require the Foundation to retain final discretion regarding such investments. The undersigned understand that investments will be administered in accordance with the policies of the Foundation. The undersigned acknowledge that the investments in the Gift Fund are subject to market and interest rate fluctuations. The total investment return of each investment manager is net of investment expenses. Confidentiality The Foundation agrees not to use any confidential information provided in connection with this Agreement for purposes other than those for which it was provided, without receiving prior consent. Indemnity In consideration of the Foundation’s creating a Gift Fund at the request of the undersigned individual(s) or entity and for other good and valuable consideration, the undersigned hereby agree to indemnify and hold harmless the Foundation against any liability, cost, or expense which the Foundation may incur by reason of its acting upon instructions or recommendations given to the Foundation by any of the undersigned or by persons authorized to make recommendations with regard to the Gift Fund. Severability The provisions of this Agreement are severable, and the invalidity or unenforceability of any one or more of such provisions shall not affect the validity or enforceability of the remainder of this Agreement which shall remain in full force and effect. Variance Power It is understood that the Gift Fund to be established pursuant to this agreement will be subject to the provisions of the Charter and Bylaws of the Foundation, as may be amended from time to time, including the power reserved by the Board of Directors to modify any condition or restriction on the distribution of funds if in its sole judgment (without the approval of any trustee, custodian, or agent), such restriction or condition becomes, in effect, unnecessary, incapable of fulfillment, or inconsistent with the charitable needs of the area served by the Foundation. Amendment of Agreement Subject to the provisions of the paragraph herein entitled “Variance Power,” this Agreement and any addendums attached hereto shall constitute the entire agreement of the parties and supersedes all prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof. Subject to the provisions of the paragraph herein entitled “Variance Power,” this Agreement, including any exhibits or attachments hereto, may not be amended or modified, except in a writing signed by all parties to this Agreement. Governing Law This Agreement is made subject to and shall be construed under the laws of the State of North Carolina, without giving effect to its conflict of laws principles. This Agreement may be executed in several counterparts, each of which shall be deemed an original, and all of which shall constitute one and the same instrument. Signatures By signing below, Opening Donor(s) and Advisor 1, if applicable, hereby acknowledge that they have read, understand and hereby agree to the provisions of this Agreement and that the information provided herein is accurate to the best of their knowledge. Opening Donor 1 Opening Donor 2 (if applicable) SIGNATURE SIGNATURE NAME (please print) NAME (please print) TITLE (for institutional donors) TITLE (for institutional donors) DATE DATE Advisor 1 (sign if different from Opening Donor) Foundation For The Carolinas SIGNATURE BY NAME (please print) TITLE TITLE DATE DATE SUBSIDIARY FOUNDATION BY TITLE DATE Addendum I – Gift Fund Investment Recommendation Form (See following page) investment recommendation form gift funds Foundation For The Carolinas offers fundholders diverse investment options to grow fund assets for maximum philanthropic impact. Please select one of the following investment pools based on the anticipated needs for your gift fund (please note: requested changes to your fund’s investment pool will generally take effect on the first day of the following month after your completed form is received). For additional information on FFTC’s investment pools, visit xxx.xxxx.xxx/xxxxx. Investment Pools Fund Type Pool choices for gift funds between $10,000 - $50,000 Non-Endowed Endowed Liquid Reserves Pool Low Duration Fixed Income Pool Pool choices for gift funds greater than $50,000 Liquid Reserves Pool Low Duration Fixed Income Pool Income & Growth Pool Moderate Passive Long-Term Growth Pool (formerly Passive Diversified) Passive Diversified Active Long-Term Growth Pool (formerly Moderate Growth) Non-Endowed Diversified Long-Term Growth Pool (formerly Endowed & Non-Endowed) * Endowed Diversified Long-Term Growth Pool *Restrictions on withdrawals apply depending upon the fund balance. Less than $1M – Available within 90 days; $1M - $5M – 80% available within 90 days, remainder within 1YR; Greater than $5M, please contact relationship manager. Investment Alliance Program For funds that maintain an asset balance greater than $250,000, you may recommend a specific investment manager from outside FFTC’s core investment pool to manage the fund portfolio (FFTC’s Investment Committee must approve the recommended manager): Anticipated Distribution Horizon (in years) Diversified Long-Term Growth Passive Long-Term Growth Active Long-Term Growth Income & Growth Low Duration Fixed Income Less Diversified More Diversified Liquid Reserves By signing below, I (we) understand that all gift funds are subject to the policies of Foundation For The Carolinas as set forth in the Charitable Giving GuideGuide and if applicable, understand the liquidity terms described above. The investment recommendation selected above includes careful consideration of the anticipated annual spending and grantmaking plans for the gift fund. Gift Fund Name & Number: Signature of Advisor: Print name: Date: Please email the completed form to xxxxxxxxxxx@xxxx.xxx. Foundation For The Carolinas does not provide tax, legal or investment advice. The information in our publications and on our website is general in nature, and is not intended to be a substitute for consulting your legal, tax or investment advisor regarding your particular situation. Any performance data is based on past performance and is no guarantee of future results.
Appears in 1 contract
Samples: www.fftc.org
Please refer to The Charitable Giving Guide for further information. If the Donor desires fundraising activities to be conducted in connection with the Gift Fund established under this Agreement, then prior approval of Foundation Staff and additional documentation are required. If fundraising activities have been discussed with and approved for the Gift Fund, then an authorized Foundation Staff member should check the box and initial below. □ Fundraising approved (please initial) Addenda Please indicate additional addenda attached to this Agreement, if any. Are any addenda (other than Addendum I – Gift Fund Investment Recommendation Form) attached to this Agreement? □ Yes □ No If so, please list here: Notes Use this section to provide any information not addressed elsewhere in this Agreement or to complete any sections of the Agreement where space was otherwise too limited. Additional Provisions Your signature on the following page acknowledges that you have read, understand and agree to the provisions below. Protection of Tax-Exempt Status. The undersigned agree to comply with any written direction by the Foundation to cease recommending grants or distributions or conducting activities that may jeopardize the Foundation’s tax status or otherwise subject the Foundation or the Gift Fund to excise taxes that are applicable to donor-advised funds as defined in the Internal Revenue Code (the “Code”). Charitable Giving Guide The undersigned have received and reviewed The Charitable Giving Guide and agree to the terms thereof. Accuracy of Information The undersigned hereby certify that all information presented in connection with this Agreement is accurate to the best knowledge of the undersigned and will promptly notify the Foundation in writing of any changes. Use of Funds The Foundation will make distributions from the Gift Fund to carry out the charitable purposes of the Gift Fund in accordance with the Code. Written requests for charitable grants or distributions from the Gift Fund should be made at least ten days prior to the date when payment is to be made. The Foundation’s ability to make reimbursements to any individual for expenditures or to make a grant or distribution for any non-charitable purpose or to any non-charitable entity is generally disallowed by the Code. Advisors wishing to recommend any such reimbursement, grant or distribution should discuss it with the Foundation’s Finance & Donor Relations Team before engaging in any activity that might otherwise lead the Advisor to an expectation that any such payment would be appropriate. Please refer to The Charitable Giving Guide for more information. Endowed Gift Funds The undersigned understand and acknowledge that any Endowed Gift Fund created under this Agreement (with the Foundation or any of its affiliates or supporting organizations) is a permanent Gift Fund and that only the annual Spendable Amount will be available for distribution (as further addressed in the section hereof entitled “Spendable Amount”). Irrevocable Gifts The undersigned understand that any contribution to a Gift Fund, once accepted by the Board of Directors of the Foundation, represents an irrevocable gift to the Foundation and is not refundable. Succession Plans In the event that the undersigned shall not have designated a Succession Plan (see the section entitled Succession Plan in this agreement), then the succession plan policy and procedure contained in The Charitable Giving Guide which is incorporated by reference shall apply and the Foundation shall have no liability to any party for carrying out such policy and procedure. Service Charges The Foundation shall be entitled to receive as compensation for its services in investing, administering and distributing the assets held in the Gift Fund created hereunder the service charges set out in the Foundation’s regular schedule of compensation applicable at the time of the performance of such services; provided, however, that if the Foundation’s Custom service level applies to the Gift Fund, then the Foundation shall be entitled to receive as compensation the service charges as provided in the separate Custom Service Level Addendum attached hereto. Notice All communications required hereunder shall be in writing and shall be deemed to have been validly served, given or delivered (i) three (3) business days after deposit of same in the United States mail, designated as registered or certified mail, return receipt requested, bearing adequate postage, or (ii) on the date of delivery to such party if delivered by hand or by overnight or other similar courier and addressed to the party to be notified at the address for such party as provided in this Agreement, or to such other address as each party may designate for itself by like notice. Ownership Tools, equipment and software used by the Foundation to provide service to the Gift Fund shall remain the property of the Foundation and/or its licensors, and no right, title, license or interest in any of them is conveyed to the Gift Fund by this Agreement. Acknowledgment of Charitable Donations on Behalf of the Gift Fund The Foundation agrees that it will acknowledge to donors all contributions to the Gift Fund in accordance with the guidelines established by the Internal Revenue Service. Investments The undersigned acknowledge and agree that they have been advised by the Foundation that current IRS regulations or rulings permit Gift Fund Advisor(s) to designate investment preferences but require the Foundation to retain final discretion regarding such investments. The undersigned understand that investments will be administered in accordance with the policies of the Foundation. The undersigned acknowledge that the investments in the Gift Fund are subject to market and interest rate fluctuations. The total investment return of each investment manager is net of investment expenses. Confidentiality The Foundation agrees not to use any confidential information provided in connection with this Agreement for purposes other than those for which it was provided, without receiving prior consent. Indemnity In consideration of the Foundation’s creating a Gift Fund at the request of the undersigned individual(s) or entity and for other good and valuable consideration, the undersigned hereby agree to indemnify and hold harmless the Foundation against any liability, cost, or expense which the Foundation may incur by reason of its acting upon instructions or recommendations given to the Foundation by any of the undersigned or by persons authorized to make recommendations with regard to the Gift Fund. Severability The provisions of this Agreement are severable, and the invalidity or unenforceability of any one or more of such provisions shall not affect the validity or enforceability of the remainder of this Agreement which shall remain in full force and effect. Variance Power It is understood that the Gift Fund to be established pursuant to this agreement will be subject to the provisions of the Charter and Bylaws of the Foundation, as may be amended from time to time, including the power reserved by the Board of Directors to modify any condition or restriction on the distribution of funds if in its sole judgment (without the approval of any trustee, custodian, or agent), such restriction or condition becomes, in effect, unnecessary, incapable of fulfillment, or inconsistent with the charitable needs of the area served by the Foundation. Amendment of Agreement Subject to the provisions of the paragraph herein entitled “Variance Power,” this Agreement and any addendums attached hereto shall constitute the entire agreement of the parties and supersedes all prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof. Subject to the provisions of the paragraph herein entitled “Variance Power,” this Agreement, including any exhibits or attachments hereto, may not be amended or modified, except in a writing signed by all parties to this Agreement. Governing Law This Agreement is made subject to and shall be construed under the laws of the State of North Carolina, without giving effect to its conflict of laws principles. This Agreement may be executed in several counterparts, each of which shall be deemed an original, and all of which shall constitute one and the same instrument. Signatures By signing below, Opening Donor(s) and Advisor 1, if applicable, hereby acknowledge that they have read, understand and hereby agree to the provisions of this Agreement and that the information provided herein is accurate to the best of their knowledge. Opening Donor 1 Opening Donor 2 (if applicable) SIGNATURE SIGNATURE NAME (please print) NAME (please print) TITLE (for institutional donors) TITLE (for institutional donors) DATE DATE Advisor 1 (sign if different from Opening Donor) Foundation For The Carolinas SIGNATURE BY NAME (please print) TITLE TITLE DATE DATE SUBSIDIARY FOUNDATION BY TITLE DATE Addendum I – Gift Fund Investment Recommendation Form (See following page) investment recommendation form gift funds Foundation For The Carolinas offers fundholders diverse investment options to grow fund assets for maximum philanthropic impact. Please select one of the following investment pools based on the anticipated needs for your gift fund (please note: the initial selection of, or requested changes to to, your fund’s investment pool will generally take effect on the first day of the following month within 5 - 10 business days after your completed form is received). For additional information on FFTC’s investment pools, visit xxx.xxxx.xxx/xxxxx. Investment Pools Fund Type Pool choices for gift funds between $10,000 - $50,000 Non-Endowed Endowed Liquid Reserves Pool Low Duration Fixed Income Pool Pool choices for gift funds greater than $50,000 Liquid Reserves Pool Low Duration Fixed Income Pool Income & Growth Pool Moderate Passive Long-Term Growth Pool (formerly Passive Diversified) Passive Diversified Active Long-Term Growth Pool (formerly Moderatreferrae Growth) Non-Endowed Diversified Long-Term Growth Pool (formerly Endowed & Non-Endowed) * Endowed Diversified Long-Term Growth Pool *Restrictions on withdrawals apply depending upon the fund balance. Less than $1M – Available within 90 days; $1M - $5M – 80% available within 90 days, remainder within 1YR; Greater than $5M, please contact relationship manager. Investment Alliance Program For funds that maintain an asset balance greater than $250,000, you may recommend a specific investment manager from outside FFTC’s core investment pool to manage the fund portfolio (FFTC’s Investment Committee must approve the recommended manager): Anticipated Distribution Horizon (in years) Diversified Long-Term Growth Passive Long-Term Growth Active Long-Term Growth Income & Growth Low Duration Fixed Income Less Diversified More Diversified Liquid Reserves By signing below, I (we) understand that all gift funds are subject to the policies of Foundation For The Carolinas as set forth in the Charitable Giving GuideGuide and if applicable, understand the liquidity terms described above. The investment recommendation selected above includes careful consideration of the anticipated annual spending and grantmaking plans for the gift fund. Gift Fund Name & Number: Signature of Advisor: Print name: Date: Please email the completed form to xxxxxxxxxxx@xxxx.xxx. Foundation For The Carolinas does not provide tax, legal or investment advice. The information in our publications and on our website is general in nature, and is not intended to be a substitute for consulting your legal, tax or investment advisor regarding your particular situation. Any performance data is based on past performance and is no guarantee of future results.
Appears in 1 contract
Samples: www.fftc.org
Please refer to The Charitable Giving Guide for further information. If the Donor desires fundraising activities to be conducted in connection with the Gift Agency Fund established under this Agreement, then prior approval of Foundation Staff and additional documentation are required. If fundraising activities have been discussed with and approved for the Gift Agency Fund, then an authorized Foundation Staff member should check the box and initial below. □ Fundraising approved (please initial) Addenda Please indicate additional addenda attached to this Agreement, if any. Are any addenda (other than Addendum I – Gift Agency Fund Investment Recommendation Form) attached to this Agreement? □ Yes □ No If so, please list here: Notes Use this section to provide any information not addressed elsewhere in this Agreement or to complete any sections of the Agreement where space was otherwise too limited. Additional Provisions Your signature on the following page acknowledges that you have read, understand and agree to the provisions below. Protection of Tax-Exempt Status. Status The undersigned agree to comply with any written direction by the Foundation to cease recommending grants or distributions or conducting activities that may jeopardize the Foundation’s tax status or otherwise subject the Foundation or the Gift Agency Fund to excise taxes that are applicable to donor-advised funds as defined in the Internal Revenue Code (the “Code”). Charitable Giving Guide The undersigned have received and reviewed The Charitable Giving Guide and agree to the terms thereof. Accuracy of Information The undersigned hereby certify that all information presented in connection with this Agreement is accurate to the best knowledge of the undersigned and will promptly notify the Foundation in writing of any changes. Use of Funds The Foundation will make distributions from the Gift Agency Fund to carry out the charitable purposes of the Gift Agency Fund in accordance with the Code. Written requests for charitable grants or distributions from the Gift Agency Fund should be made at least ten days prior to the date when payment is to be made. The Foundation’s ability to make reimbursements to any individual for expenditures or to make a grant or distribution for any non-charitable purpose or to any non-charitable entity is generally disallowed by the Code. Advisors Representatives wishing to recommend any such reimbursement, grant or distribution should discuss it with the Foundation’s Finance & Donor Relations Team before engaging in any activity that might otherwise lead the Advisor Representative to an expectation that any such payment would be appropriate. Please refer to The Charitable Giving Guide for more information. Endowed Gift Agency Funds The undersigned understand and acknowledge that any Endowed Gift Agency Fund created under this Agreement (with the Foundation or any of its affiliates or supporting organizations) is a permanent Gift Agency Fund and that only the annual Spendable Amount will be available for distribution (as further addressed in the section hereof entitled “Spendable Amount”). Irrevocable Gifts The undersigned understand that any contribution to a Gift an Agency Fund, once accepted by the Board of Directors of the Foundation, represents an irrevocable gift to the Foundation and is not refundable. Succession Plans In the event that the undersigned shall not have designated a Succession Plan (see the section entitled Succession Plan in this agreement)Plan, then the succession plan policy and procedure contained in The Charitable Giving Guide which is incorporated by reference shall apply and the Foundation shall have no liability to any party for carrying out such policy and procedure. Service Charges The Foundation shall be entitled to receive as compensation for its services in investing, administering and distributing the assets held in the Gift Agency Fund created hereunder the service charges set out in the Foundation’s regular schedule of compensation applicable at the time of the performance of such services; provided, however, that if the Foundation’s Custom service level applies to the Gift Agency Fund, then the Foundation shall be entitled to receive as compensation the service charges as provided in the separate Custom Service Level Addendum attached hereto. Notice All communications required hereunder shall be in writing and shall be deemed to have been validly served, given or delivered (i) three (3) business days after deposit of same in the United States mail, designated as registered or certified mail, return receipt requested, bearing adequate postage, or (ii) on the date of delivery to such party if delivered by hand or by overnight or other similar courier and addressed to the party to be notified at the address for such party as provided in this Agreement, or to such other address as each party may designate for itself by like notice. Ownership Tools, equipment and software used by the Foundation to provide service to the Gift Agency Fund shall remain the property of the Foundation and/or its licensors, and no right, title, license or interest in any of them is conveyed to the Gift Agency Fund by this Agreement. Acknowledgment of Charitable Donations on Behalf of the Gift Fund Agency Fund. The Foundation agrees that it will acknowledge to donors all contributions to the Gift Agency Fund in accordance with the guidelines established by the Internal Revenue Service. Investments The undersigned acknowledge and agree that they have been advised by the Foundation that current IRS regulations or rulings permit Gift Agency Fund Advisor(sRepresentative(s) to designate investment preferences but require the Foundation to retain final discretion regarding such investments. The undersigned understand that investments will be administered in accordance with the policies of the Foundation. The undersigned acknowledge that the investments in the Gift Agency Fund are subject to market and interest rate fluctuations. The total investment return of each investment manager is net of investment expenses. Confidentiality The Foundation agrees not to use any confidential information provided in connection with this Agreement for purposes other than those for which it was provided, without receiving prior consent. Indemnity In consideration of the Foundation’s creating a Gift an Agency Fund at the request of the undersigned individual(s) or entity and for other good and valuable consideration, the undersigned hereby agree to indemnify and hold harmless the Foundation against any liability, cost, or expense which the Foundation may incur by reason of its acting upon instructions or recommendations given to the Foundation by any of the undersigned or by persons authorized to make recommendations with regard to the Gift Agency Fund. Severability The provisions of this Agreement are severable, and the invalidity or unenforceability of any one or more of such provisions shall not affect the validity or enforceability of the remainder of this Agreement which shall remain in full force and effect. Variance Power It is understood that the Gift Agency Fund to be established pursuant to this agreement will be subject to the provisions of the Charter and Bylaws of the Foundation, as may be amended from time to time, including the power reserved by the Board of Directors to modify any condition or restriction on the distribution of funds if in its sole judgment (without the approval of any trustee, custodian, or agent), such restriction or condition becomes, in effect, unnecessary, incapable of fulfillment, or inconsistent with the charitable needs of the area served by the Foundation. Amendment of Agreement Subject to the provisions of the paragraph herein entitled “Variance Power,” this Agreement and any addendums attached hereto shall constitute the entire agreement of the parties and supersedes all prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof. Subject to the provisions of the paragraph herein entitled “Variance Power,” this Agreement, including any exhibits or attachments hereto, may not be amended or modified, except in a writing signed by all parties to this Agreement. Governing Law This Agreement is made subject to and shall be construed under the laws of the State of North Carolina, without giving effect to its conflict of laws principles. This Agreement may be executed in several counterparts, each of which shall be deemed an original, and all of which shall constitute one and the same instrument. Signatures By signing below, Opening Donor(s) and Advisor 1, if applicable, The undersigned hereby acknowledge that they have read, understand and hereby agree to the provisions of this Agreement and that the information provided herein is accurate to the best of their knowledge. Opening Donor Nonprofit Organization Representative 1 Opening Donor 2 (if applicable) SIGNATURE SIGNATURE NAME (please print) NAME (please print) TITLE (for institutional donors) TITLE (for institutional donors) DATE DATE Advisor 1 (sign if different from Opening Donor) Foundation For The Carolinas SIGNATURE BY NAME (please print) TITLE TITLE ROLE(S) WITH ORGANIZATION DATE DATE SUBSIDIARY FOUNDATION BY TITLE Nonprofit Organization Representative 2 SIGNATURE NAME (please print) ROLE(S) WITH ORGANIZATION DATE Addendum I – Gift Agency Fund Investment Recommendation Form (See following page) investment recommendation form gift agency funds Foundation For The Carolinas offers fundholders diverse investment options to grow fund assets for maximum philanthropic impact. Please select one of the following investment pools based on the anticipated needs for your gift agency fund (please note: requested changes to your fund’s investment pool will generally take effect on the first day of the following month after your completed form is received). For additional information on FFTC’s investment pools, visit xxx.xxxx.xxx/xxxxx. Investment Pools Fund Type Pool choices for gift funds between $10,000 - $50,000 Non-Endowed Quasi-Endowed Liquid Reserves Pool Low Duration Fixed Income Pool Pool choices for gift funds greater than $50,000 Endowed Liquid Reserves Pool Low Duration Fixed Income Pool Income & Growth Pool Moderate Growth Pool Passive Diversified Growth Pool Non-Endowed Diversified Long-Term Growth Pool Endowed Diversified Long-Term Growth Pool Investment Alliance Program For funds that maintain an asset balance greater than $250,000, you may recommend a specific investment manager from outside FFTC’s core investment pool to manage the fund portfolio (FFTC’s Investment Committee must approve the recommended manager): Anticipated Distribution Horizon (in years) By signing below, I (we) understand that all gift agency funds are subject to the policies of Foundation For The Carolinas as set forth in the Charitable Giving Guide. The investment recommendation selected above includes careful consideration of the anticipated annual spending and grantmaking distribution plans for the gift agency fund. Gift Agency Fund Name & Number: Signature of AdvisorRepresentative: Print name: Date: Please email the completed form to xxxxxxxxxxx@xxxx.xxx. Foundation For The Carolinas does not provide tax, legal or investment advice. The information in our publications and on our website is general in nature, and is not intended to be a substitute for consulting your legal, tax or investment advisor regarding your particular situation. Any performance data is based on past performance and is no guarantee of future results.
Appears in 1 contract
Samples: www.fftc.org
Please refer to The Charitable Giving Guide for further information. If the Donor desires fundraising activities to be conducted in connection with the Gift Agency Fund established under this Agreement, then prior approval of Foundation FFTC Staff and additional documentation are required. If fundraising activities have been discussed with and approved for the Gift Agency Fund, then an authorized Foundation FFTC Staff member should check the box and initial below. □ Fundraising approved (please initial) Addenda Please indicate additional addenda attached to this Agreement, if any. Are any addenda (other than Addendum I – Gift GCCT Agency Fund Investment Recommendation Form) attached to this Agreement? □ 🞏 Yes □ 🞎 No If so, please list here: Notes Use this section to provide any information not addressed elsewhere in this Agreement or to complete any sections of the Agreement where space was otherwise too limited. Additional Provisions Your signature on the following page acknowledges that you have read, understand and agree to the provisions below. Protection of Tax-Exempt Status. Status The undersigned agree to comply with any written direction by the Trust and/or Foundation to cease recommending grants or distributions or conducting activities that may jeopardize the Trust and/or Foundation’s tax status or otherwise subject the Trust, Foundation or the Gift Agency Fund to excise taxes that are applicable to donor-advised funds as defined in the Internal Revenue Code (the “Code”). Charitable Giving Guide The undersigned have received and reviewed The Charitable Giving Guide and agree to the terms thereof. Accuracy of Information The undersigned hereby certify that all information presented in connection with this Agreement is accurate to the best knowledge of the undersigned and will promptly notify the Trust and Foundation in writing of any changes. Use of Funds The Foundation Distributions will make distributions be made from the Gift Agency Fund to carry out the charitable purposes of the Gift Agency Fund in accordance with the Code. Written requests for charitable grants or distributions from the Gift Agency Fund should be made at least ten days prior to the date when payment is to be made. The Foundation’s ability to make reimbursements Reimbursements to any individual for expenditures or to make a grant grants or distribution distributions for any non-charitable purpose or to any non-charitable entity is are generally disallowed by the Code. Advisors Representatives wishing to recommend any such reimbursement, grant or distribution should discuss it with the Foundation’s Finance & Donor Relations Team before engaging in any activity that might otherwise lead the Advisor Representative to an expectation that any such payment would be appropriate. Please refer to The Charitable Giving Guide for more information. Endowed Gift Agency Funds The undersigned understand and acknowledge that any Endowed Gift Agency Fund created under this Agreement (with the Foundation or any of its affiliates or supporting organizations) is a permanent Gift Agency Fund and that only the annual Spendable Amount will be available for distribution (as further addressed in the section hereof entitled “Spendable Amount”). Irrevocable Gifts The undersigned understand that any contribution to a Gift an Agency Fund, once accepted by the Board of Directors of the Foundationaccepted, represents an irrevocable gift to the Foundation Trust and is not refundable. Succession Plans In the event that the undersigned shall not have designated a Succession Plan (see the section entitled Succession Plan in this agreement)Plan, then the succession plan policy and procedure contained in The Charitable Giving Guide which is incorporated by reference shall apply and neither the Trust nor the Foundation shall have no any liability to any party for carrying out such policy and procedure. Service Charges The Trust and Foundation shall be entitled to receive as compensation for its their services in investing, administering and distributing the assets held in the Gift Agency Fund created hereunder the service charges set out in the Trust’s and/or Foundation’s regular schedule of compensation applicable at the time of the performance of such services; provided, however, that if the Foundation’s Custom service level applies to the Gift Agency Fund, then the Foundation shall be entitled to receive as compensation the service charges as provided in the separate Custom Service Level Addendum attached hereto. Notice All communications required hereunder shall be in writing and shall be deemed to have been validly served, given or delivered (i) three (3) business days after deposit of same in the United States mail, designated as registered or certified mail, return receipt requested, bearing adequate postage, or (ii) on the date of delivery to such party if delivered by hand or by overnight or other similar courier and addressed to the party to be notified at the address for such party as provided in this Agreement, or to such other address as each party may designate for itself by like notice. Ownership Tools, equipment and software used by the Foundation to provide service to the Gift Agency Fund shall remain the property of the Foundation and/or its licensors, and no right, title, license or interest in any of them is conveyed to the Gift Agency Fund by this Agreement. Acknowledgment of Charitable Donations on Behalf of the Gift Agency Fund The Trust and Foundation agrees that it will agree to acknowledge to donors all donor contributions to the Gift Agency Fund in accordance with the guidelines established by the Internal Revenue Service. Investments The undersigned acknowledge and agree that they have been advised by the Foundation Trust that current IRS regulations or rulings permit Gift Agency Fund Advisor(sRepresentative(s) to designate investment preferences but require the Foundation Trust to retain final discretion regarding such investments. The undersigned understand that investments will be administered in accordance with the policies of the Trust and Foundation. The undersigned acknowledge that the investments in the Gift Agency Fund are subject to market and interest rate fluctuations. The total investment return of each investment manager is net of investment expenses. Confidentiality The Trust and Foundation agrees agree not to use any confidential information provided in connection with this Agreement for purposes other than those for which it was provided, without receiving prior consent. Indemnity In consideration of the Foundation’s Trust and Foundation creating a Gift an Agency Fund at the request of the undersigned individual(s) or entity and for other good and valuable consideration, the undersigned hereby agree to indemnify and hold harmless the Trust and Foundation against any liability, cost, or expense which the Trust and/or Foundation may incur by reason of its acting upon instructions or recommendations given to the Trust and/or Foundation by any of the undersigned or by persons authorized to make recommendations with regard to the Gift Agency Fund. Severability The provisions of this Agreement are severable, and the invalidity or unenforceability of any one or more of such provisions shall not affect the validity or enforceability of the remainder of this Agreement which shall remain in full force and effect. Variance Power It is understood that the Gift Agency Fund to be established pursuant to this agreement Agreement will be subject to the provisions of the Charter and Bylaws of the FoundationTrust, as may be amended from time to time, including as well as the power reserved by the the Foundation’s Board of Directors to modify any condition or restriction on the distribution of funds if in its sole judgment (without the approval of any trustee, custodian, or agent), such restriction or condition becomes, in effect, unnecessary, incapable of fulfillment, or inconsistent with the charitable needs of the area served by the FoundationFoundation (and the Trust). Amendment of Agreement Subject to the provisions of the paragraph herein entitled “Variance Power,” this Agreement and any addendums attached hereto shall constitute the entire agreement of the parties and supersedes all prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof. Subject to the provisions of the paragraph herein entitled “Variance Power,” this Agreement, including any exhibits or attachments hereto, may not be amended or modified, except in a writing signed by all parties to this Agreement. Governing Law This Agreement is made subject to and shall be construed under the laws of the State of North Carolina, without giving effect to its conflict of laws principles. This Agreement may be executed in several counterparts, each of which shall be deemed an original, and all of which shall constitute one and the same instrument. Signatures By signing below, Opening Donor(s) and Advisor 1, if applicable, The undersigned hereby acknowledge that they have read, understand and hereby agree to the provisions of this Agreement and that the information provided herein is accurate to the best of their knowledge. Opening Donor Nonprofit Organization Representative 1 Opening Donor 2 (if applicable) The Greater Charlotte Cultural Trust SIGNATURE SIGNATURE NAME (please print) BY NAME (please print) TITLE (for institutional donorsROLE(S) TITLE (for institutional donors) WITH ORGANIZATION DATE DATE Advisor 1 (sign if different from Opening Donor) Nonprofit Organization Representative 2 Foundation For The Carolinas SIGNATURE BY NAME (please print) TITLE TITLE ROLE(S) WITH ORGANIZATION DATE DATE SUBSIDIARY FOUNDATION BY TITLE DATE Addendum I – Gift GCCT Agency Fund Investment Recommendation Form (See following page) investment recommendation invEstmEnt rEcommEndation form gift agEncY funds Foundation For The Carolinas offers fundholders Greater Charlotte Cultural Trust (GCCT) is pleased to offer its member organizations diverse investment options to grow fund assets for maximum philanthropic impact. Please select one of the following investment pools based on the anticipated needs for your gift agency fund (please note: the initial selection of, or requested changes to to, your fund’s investment pool will generally take effect on the first day of the following month within 5- 10 business days after your completed form is received). For additional information on FFTCGCCT’s investment pools, visit xxx.xxxx.xxx/xxxxxxxx.xxxx.xxx/XXXXXxxxxxxxxxx. Investment Pools Fund Type Pool choices for gift funds between $10,000 - $50,000 Non-Endowed Quasi-Endowed Endowed Liquid Reserves Pool ✓ Low Duration Fixed Income Pool Pool choices for gift funds greater than $50,000 Liquid Reserves Pool Low Duration Fixed Income Pool ✓ Income & Growth Pool ✓ Active Long-Term Growth (formerly Moderate Growth) ✓ ✓ ✓ Passive Long-Term Growth Pool (formerly Passive Diversified Growth) ✓ ✓ ✓ Bank Long-Term Growth Pool Non(BAC/WFC) ✓ ✓ ✓ Diversified Long-Term Growth (formerly Endowed Diversified Long-Term Growth Pool Endowed Diversified Long-Term Growth Pool Investment Alliance Program For funds that maintain an asset balance greater Growth) ✓* ✓* ✓ *Restrictions on withdrawals apply depending upon the fund balance. Less than $250,0001M – Available within 90 days; $1M - $5M – 80% available within 90 days, you may recommend a specific investment manager from outside FFTC’s core investment pool to manage the fund portfolio (FFTC’s Investment Committee must approve the recommended remainder within 1YR; Greater than $5M, please contact relationship manager): . Anticipated Distribution Horizon (in years) By signing below, I (we) understand that all gift GCCT agency funds are subject to the policies of the GCCT and the Foundation For The Carolinas as set forth in the Charitable Giving GuideGuide and if applicable, understand the liquidity terms described above. The investment recommendation selected above includes careful consideration of the anticipated annual spending and grantmaking distribution plans for the gift agency fund. Gift Agency Fund Name & Number: Signature of AdvisorRepresentative: Print name: Date: Please email the completed form to xxxxxxxxxxx@xxxx.xxx.
Appears in 1 contract
Samples: www.fftc.org
Please refer to The Charitable Giving Guide for further information. If the Donor desires fundraising activities to be conducted in connection with the Gift Agency Fund established under this Agreement, then prior approval of Foundation FFTC Staff and additional documentation are required. If fundraising activities have been discussed with and approved for the Gift Agency Fund, then an authorized Foundation FFTC Staff member should check the box and initial below. □ Fundraising approved (please initial) Addenda Please indicate additional addenda attached to this Agreement, if any. Are any addenda (other than Addendum I – Gift GCCT Agency Fund Investment Recommendation Form) attached to this Agreement? □ Yes □ No If so, please list here: Notes Use this section to provide any information not addressed elsewhere in this Agreement or to complete any sections of the Agreement where space was otherwise too limited. Additional Provisions Your signature on the following page acknowledges that you have read, understand and agree to the provisions below. Protection of Tax-Exempt Status. Status The undersigned agree to comply with any written direction by the Trust and/or Foundation to cease recommending grants or distributions or conducting activities that may jeopardize the Trust and/or Foundation’s tax status or otherwise subject the Trust, Foundation or the Gift Agency Fund to excise taxes that are applicable to donor-advised funds as defined in the Internal Revenue Code (the “Code”). Charitable Giving Guide The undersigned have received and reviewed The Charitable Giving Guide and agree to the terms thereof. Accuracy of Information The undersigned hereby certify that all information presented in connection with this Agreement is accurate to the best knowledge of the undersigned and will promptly notify the Trust and Foundation in writing of any changes. Use of Funds The Foundation Distributions will make distributions be made from the Gift Agency Fund to carry out the charitable purposes of the Gift Agency Fund in accordance with the Code. Written requests for charitable grants or distributions from the Gift Agency Fund should be made at least ten days prior to the date when payment is to be made. The Foundation’s ability to make reimbursements Reimbursements to any individual for expenditures or to make a grant grants or distribution distributions for any non-charitable purpose or to any non-charitable entity is are generally disallowed by the Code. Advisors Representatives wishing to recommend any such reimbursement, grant or distribution should discuss it with the Foundation’s Finance & Donor Relations Team before engaging in any activity that might otherwise lead the Advisor Representative to an expectation that any such payment would be appropriate. Please refer to The Charitable Giving Guide for more information. Endowed Gift Agency Funds The undersigned understand and acknowledge that any Endowed Gift Agency Fund created under this Agreement (with the Foundation or any of its affiliates or supporting organizations) is a permanent Gift Agency Fund and that only the annual Spendable Amount will be available for distribution (as further addressed in the section hereof entitled “Spendable Amount”). Irrevocable Gifts The undersigned understand that any contribution to a Gift an Agency Fund, once accepted by the Board of Directors of the Foundationaccepted, represents an irrevocable gift to the Foundation Trust and is not refundable. Succession Plans In the event that the undersigned shall not have designated a Succession Plan (see the section entitled Succession Plan in this agreement)Plan, then the succession plan policy and procedure contained in The Charitable Giving Guide which is incorporated by reference shall apply and neither the Trust nor the Foundation shall have no any liability to any party for carrying out such policy and procedure. Service Charges The Trust and Foundation shall be entitled to receive as compensation for its their services in investing, administering and distributing the assets held in the Gift Agency Fund created hereunder the service charges set out in the Trust’s and/or Foundation’s regular schedule of compensation applicable at the time of the performance of such services; provided, however, that if the Foundation’s Custom service level applies to the Gift Agency Fund, then the Foundation shall be entitled to receive as compensation the service charges as provided in the separate Custom Service Level Addendum attached hereto. Notice All communications required hereunder shall be in writing and shall be deemed to have been validly served, given or delivered (i) three (3) business days after deposit of same in the United States mail, designated as registered or certified mail, return receipt requested, bearing adequate postage, or (ii) on the date of delivery to such party if delivered by hand or by overnight or other similar courier and addressed to the party to be notified at the address for such party as provided in this Agreement, or to such other address as each party may designate for itself by like notice. Ownership Tools, equipment and software used by the Foundation to provide service to the Gift Agency Fund shall remain the property of the Foundation and/or its licensors, and no right, title, license or interest in any of them is conveyed to the Gift Agency Fund by this Agreement. Acknowledgment of Charitable Donations on Behalf of the Gift Agency Fund The Trust and Foundation agrees that it will agree to acknowledge to donors all donor contributions to the Gift Agency Fund in accordance with the guidelines established by the Internal Revenue Service. Investments The undersigned acknowledge and agree that they have been advised by the Foundation Trust that current IRS regulations or rulings permit Gift Agency Fund Advisor(sRepresentative(s) to designate investment preferences but require the Foundation Trust to retain final discretion regarding such investments. The undersigned understand that investments will be administered in accordance with the policies of the Trust and Foundation. The undersigned acknowledge that the investments in the Gift Agency Fund are subject to market and interest rate fluctuations. The total investment return of each investment manager is net of investment expenses. Confidentiality The Trust and Foundation agrees agree not to use any confidential information provided in connection with this Agreement for purposes other than those for which it was provided, without receiving prior consent. Indemnity In consideration of the Foundation’s Trust and Foundation creating a Gift an Agency Fund at the request of the undersigned individual(s) or entity and for other good and valuable consideration, the undersigned hereby agree to indemnify and hold harmless the Trust and Foundation against any liability, cost, or expense which the Trust and/or Foundation may incur by reason of its acting upon instructions or recommendations given to the Trust and/or Foundation by any of the undersigned or by persons authorized to make recommendations with regard to the Gift Agency Fund. Severability The provisions of this Agreement are severable, and the invalidity or unenforceability of any one or more of such provisions shall not affect the validity or enforceability of the remainder of this Agreement which shall remain in full force and effect. Variance Power It is understood that the Gift Agency Fund to be established pursuant to this agreement Agreement will be subject to the provisions of the Charter and Bylaws of the FoundationTrust, as may be amended from time to time, including as well as the power reserved by the the Foundation’s Board of Directors to modify any condition or restriction on the distribution of funds if in its sole judgment (without the approval of any trustee, custodian, or agent), such restriction or condition becomes, in effect, unnecessary, incapable of fulfillment, or inconsistent with the charitable needs of the area served by the FoundationFoundation (and the Trust). Amendment of Agreement Subject to the provisions of the paragraph herein entitled “Variance Power,” this Agreement and any addendums attached hereto shall constitute the entire agreement of the parties and supersedes all prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof. Subject to the provisions of the paragraph herein entitled “Variance Power,” this Agreement, including any exhibits or attachments hereto, may not be amended or modified, except in a writing signed by all parties to this Agreement. Governing Law This Agreement is made subject to and shall be construed under the laws of the State of North Carolina, without giving effect to its conflict of laws principles. This Agreement may be executed in several counterparts, each of which shall be deemed an original, and all of which shall constitute one and the same instrument. Signatures By signing below, Opening Donor(s) and Advisor 1, if applicable, The undersigned hereby acknowledge that they have read, understand and hereby agree to the provisions of this Agreement and that the information provided herein is accurate to the best of their knowledge. Opening Donor Nonprofit Organization Representative 1 Opening Donor 2 (if applicable) The Greater Charlotte Cultural Trust SIGNATURE SIGNATURE NAME (please print) BY NAME (please print) TITLE (for institutional donorsROLE(S) TITLE (for institutional donors) WITH ORGANIZATION DATE DATE Advisor 1 (sign if different from Opening Donor) Nonprofit Organization Representative 2 Foundation For The Carolinas SIGNATURE BY NAME (please print) TITLE TITLE ROLE(S) WITH ORGANIZATION DATE DATE SUBSIDIARY FOUNDATION BY TITLE DATE Addendum I – Gift GCCT Agency Fund Investment Recommendation Form (See following page) investment recommendation form gift agency funds Foundation For The Carolinas offers fundholders Greater Charlotte Cultural Trust (GCCT) is pleased to offer its member organizations diverse investment options to grow fund assets for maximum philanthropic impact. Please select one of the following investment pools based on the anticipated needs for your gift agency fund (please note: requested changes to your fund’s investment pool will generally take effect on the first day of the following month after your completed form is received). For additional information on FFTCGCCT’s investment pools, visit xxx.xxxx.xxx/xxxxxxxx.xxxx.xxx/XXXXXxxxxxxxxxx. Investment Pools Fund Type Pool choices for gift funds between $10,000 - $50,000 Non-Endowed Quasi-Endowed Liquid Reserves Pool Low Duration Fixed Income Pool Pool choices for gift funds greater than $50,000 Endowed Liquid Reserves Pool Low Duration Fixed Income Pool Income & Growth Pool Moderate Growth Pool Passive Diversified Growth Pool BAC/WFC Pool GCCT Pool Non-Endowed Diversified Long-Term Growth Pool Endowed Diversified Long-Term Growth Pool Investment Alliance Program For funds that maintain an asset balance greater than $250,000, you may recommend a specific investment manager from outside FFTC’s core investment pool to manage the fund portfolio (FFTC’s Investment Committee must approve the recommended manager): Anticipated Distribution Horizon (in years) By signing below, I (we) understand that all gift GCCT agency funds are subject to the policies of the GCCT and, where applicable, the policies of Foundation For The Carolinas as set forth in the Charitable Giving Guide. The investment recommendation selected above includes careful consideration of the anticipated annual spending and grantmaking distribution plans for the gift agency fund. Gift Agency Fund Name & Number: Signature of AdvisorRepresentative: Print name: Date: Please email the completed form to xxxxxxxxxxx@xxxx.xxx.
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Samples: www.fftc.org
