Common use of Xxxxxx of Future Contributions Clause in Contracts

Xxxxxx of Future Contributions. □ Unknown □ Additional contributions by Donors other than the Opening Donor are expected to be funded concurrently with the initial contribution. Please describe on additional pages. □ Additional contributions are expected later by the Opening Donor or by other Donors (other than through fundraising) on the following estimated timetable (if known): Type of Fund Complete this section to address whether the Gift Fund will be a permanent fund with the Foundation. Please choose whether the Gift Fund will be Endowed or Non-Endowed. Please refer to The Charitable Giving Guide for further information. □ Endowed (please initial) An Endowed Gift Fund is a permanent, legacy Fund. Its assets are held irrevocably by the Foundation and are managed to accomplish the identified charitable purposes. Endowed Gift Funds are designed to be preserved in perpetuity, so only the annual spendable income is available for distribution. Choose this Gift Fund if the Donor is interested in establishing a permanent legacy by providing continuing support for the charitable purposes of the Gift Fund. □ Non-Endowed (please initial) A Non-Endowed Gift Fund is fully available for distribution at any time. The nature of the investment instruments may vary depending on the balance and anticipated time frame for distributions. Choose this Gift Fund if interested in maintaining maximum flexibility in terms of timing of distributions. Spendable Amount If the Gift Fund is Endowed, please read this section and furnish the responses requested below. A. Determination of annual spendable amount. B. If value of fund falls below historic dollar value.