Common use of Variance Power Clause in Contracts

Variance Power. The Community Foundation may modify any recommendation or condition on distribution from a fund for any specified charitable purpose or to any specified charitable organization if, in the sole judgment of the Community Foundation, such recommendation or condition becomes unnecessary, incapable of fulfillment, or inconsistent with the charitable needs of the community. Whenever possible, the Community Foundation will confer with the donor or the donor’s representative before the fund is modified and stay as close as possible to the original intent of the donor. If the Community Foundation ceases to be a qualified charitable organization, or if the Community Foundation proceeds to dissolve, the assets of the fund shall after payment or making provision for payment of any liabilities properly chargeable to the fund, be distributed to to be used exclusively for charitable purposes. If the is not a qualified charitable organization, said assets shall be distributed in such a manner and to such an organization in the Xxxxxx County community as satisfies the requirements of a qualified charitable organization and serves purposes similar to those of the original underlying donor intent.