Common use of Variance Power Clause in Contracts

Variance Power. It is understood that the Fund is a component part of the Foundation, which shall be held as general assets of the Foundation and not as a separate trust fund. The Foundation will administer the fund subject to the laws of the State of Kansas and the Foundation’s Articles of Incorporation and Bylaws. GMCF will monitor the distribution of the Fund to ensure it is used exclusively for charitable or other exempt purposes (within the meaning of Codes Section 170(c)(1) or (2)(B)), and will recommend modifications if needed as specified in United States Treasury Regulations Section 1.170A-9(e)(11)(v)(B). If any conditions or restrictions with respect to gifts from the fund are unnecessary, incapable of fulfillment, or inconsistent with the charitable or exempt purposes of the Fund, the Foundation reserves the right to vary the terms to ensure the charitable intent of the fund is honored. AUTHORIZED FUND REPRESENTATIVE 1 AUTHORIZED FUND REPRESENTATIVE 2 Fund Representatives have the authority to recommend: 1) distributions, 2) changes to the investment of assets, and 3) continuity and distribution upon dissolution. Business or Organization Name (if applicable) / Mailing Address / City State Zip / Phone Name (Please Print) Name (Please Print) Address / City / State / Zip Address / City / State / Zip Signature Signature Date Phone Date Phone Email Email Successor Fund Representative(S) The Donor(s) to this fund hereby designate the following successor advisors: (Please provide current contact information) Full Name (First, Middle, Last) Relationship to donor advisor(s) GREATER MANHATTAN COMMUNITY FOUNDATION Signature Signature Xxxxxx X. Xxxxxxxx President & CEO Name / Title (Please Print) Date Date