Use of the Fund. It is the general policy of the Foundation that a substantial part of Restricted Funds shall remain as a permanent endowment to the Foundation. It is also the general policy of the Foundation that an amount equal to four percent (4.00%) of the value of a Restricted Fund may be distributed during each fiscal year.
Use of the Fund. It is the general policy of the Foundation that a substantial part of the scholarship fund shall remain as a permanent endowment to the Foundation. It is also the general policy of the Foundation that an amount equal to four percent (4.00%) of the value of the scholarship fund shall be distributed each year. Consistent with those policies of the Foundation, annual awards of $ each shall be awarded upon the recommendation of the Scholarship Review Committee, as specifically set forth and hereby incorporated in Appendix A, and subsequent approval by the Foundation's Board of Directors.
Use of the Fund. All distributions shall be for charitable, educational, scientific, literary, or religious (including any combination of such purposes) and for administrative purposes, all in furtherance of the purposes of CFNJ. Distributions must be for charitable purposes, and those distributions may be recommended to any 501(c)(3) organization or verified charitable entity located in the United States or any nongovernmental organization outside of the United States having a verifiable charitable purpose. Grants may also be given for charitable purposes to non-501(c)(3) organizations if the charitable expenditure can be verified through a process called expenditure responsibility. Expenditure responsibility is required for any organization not described in IRS Section 170(b)(1)(A), including for- profit companies, private operating foundations and new public charities that do not yet have 501(c)(3) status and disqualifying supporting organizations. Grants given within the United States must be for a minimum of $100. Grants to organizations outside of the United States or grants requiring expenditure responsibility within the United States must be for a minimum of $1,000. CFNJ shall assume responsibility for check writing, bookkeeping, investment management, tax reporting, auditing and evaluation of projects, and for making available to the fund advisors and fund representatives reports of fund income, expenses and grantmaking, as appropriate.
Use of the Fund. This fund will be utilized for the sole purpose of upgrading the competence of members of the bargaining unit in Labour Relations matters.
Use of the Fund a. Specific grants will be identified and approved by The Alaska Community Foundation Board of Directors (“ACF Board”).
Use of the Fund. 6.1. The fund is to be used toward the first team and youth development operating costs.
Use of the Fund. All income and principal of the Fund shall be used to support the mission and purpose of Club, the Ohio District of Kiwanis, and Kiwanis International.
Use of the Fund a. ACF shall hold the fund for the specific charitable purposes, as identified by the Donor in Exhibit “A.”
Use of the Fund. 6.1 South Dundas agrees that the Fund shall be used exclusively for Community Projects as herein enumerated, and for no other purpose.
Use of the Fund. 6.1 Subject to the legislative discretion of North Stormont’s elected Council, as applicable, North Stormont agrees that the Fund shall be used exclusively for the Programs in the percentages set forth in Section 5.1, and for no other purpose. . Accordingly, North Stormont shall demonstrate such compliance to Wind Company on a periodic basis or upon the request of Wind Company. North Stormont covenants that the Funds will be spent efficiently and in full compliance with the law including, without limitation, the obligations set forth in Article XI below.
