5. EDSR 08-14-2006 - Laserfiche WebLink

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Contributions made to the Initiative Foundation Endowment, or any of the Community Funds, are tax-deductible under Internal Revenue Service code for 501(c)(3) nonprofits. Match in Funds • The Initiative Foundation provides new community funds an incentive match to assist them with endowment-building in their early stages. • The Foundation will also provide an incentive bonus for irrevocable, documented planned gifts valued at $50,000 or more (through 6/30/2007). Does the Monev Come Back to the Community? The special fund that is set up can only be used to benefit the community, so the Initiative Foundation can not use it for anything else. The intention is that the Community Fund is a permanent endowment fund of the Initiative Foundation. INCOME DISTRIBUTIONS The Initiative Foundation provides financial statements to the Community Fund Governing Board, itemizing available income to distribute in the community. The Governing Board, based on its grant criteria, makes recommendations for grant disbursements to the Initiative Foundation. What Can A Community Fund Do? The types of charitable activities to which a Community Fund can provide financial resources include: 1. Grants and Community Development. Income can be used to make grants to nonprofit 501(c)(3) agencies, government, or schools for community services and programs. 2. Convening. Facilitating the gathering of individuals, agency representatives around issues facing the local community, the Community Fund, the region, etc. 3. Providing Education On Philanthropv. The Community Fund, together with the Initiative Foundation, work together to promote the importance, benefits, and impact of philanthropy. 4. Providing Charitable Oanortunities. The Community Fund, in partnership with the Initiative Foundation, provides a philanthropic vehicle for individuals, organizations, and businesses to carry out their charitable goals, providing opportunities to support general endowment; to create donor-advised funds to address the donor's specific areas of interest such as education, environment, medical; and to address the donor's deferred giving goals. 5. Technical Assistance. Providing training and instruction to other organizations, communities, individuals related to experience/expertise gained in working with the Community Fund Program. COMPONENT FUND ANNUAL FEES Nominal administrative/investment fees will be assessed annually for community fund endowments based on the fair market value of total assets as of June 30th each year (post audit). 3/21/2006