3. EDSR 07-21-2014 - Laserfiche WebLink

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t (320)632-9255 405 First Street SE Initiative Little Falls,MN 56345 F O U N D A T I O N i w July 11, 2014 V ifound.org Brian Beeman Ut I��\� C City of Elk River Economic Development Authority Il "11, k; ' 13065 Orono Parkway , Elk River, MN 55330 RE: 14-4694 Dear Mr. Beeman: Vv Greetings! We are pleased to provide the enclosed check in the amount of$500 for the purpose of Upper Midwest Economic Development Course. The Initiative Foundation (the Foundation) has approved this grant on the following terms: 1. Allowable Uses of Funds. The grant recipient shall use the funds only for charitable, scientific, literary,education or religious purposes within the meaning of Section 170(c)(2)(B) of the Internal Revenue Code of 1986, as amended (the "Code"). 2. Restrictions. The grant recipient will not use any of the grant dollars to: a)carry on propaganda, or otherwise attempt to influence legislation; b) participate in, or intervene in any political campaign on behalf of(or in opposition to) any candidate or public office; c) undertake activities that support terrorism; d) provide benefit to the donor or fund advisor in connection with this grant;or e) undertake any activity for any purpose other than one specified in section 170(c)(2)(B) of the Code. 3. Applicable Laws. The terms of the grant will be construed in accordance with the laws of the State of Minnesota. 4. Grant Acknowledgement. The recipient of this grant shall specifically reference the Initiative Foundation, a regional foundation, in all media releases and public relations materials where information regarding or resulting from this grant is presented. 5. Reporting. Although there are no official reporting requirements, we request that you provide feedback at the conclusion of your event/project. Information such as number in attendance and any significant goals accomplished or next steps determined is very helpful. 6. Modification. The terms of this grant can be modified only in writing signed by an authorized officer of the grant recipient and by the Foundation. 7. Violation of Terms. If the grant recipient violates any of the terms of the agreement the Foundation reserves the right, in its absolute discretion, to terminate the agreement. Upon termination of this agreement for any reason,the grant recipient will repay to the Foundation any portion of the grant not previously spent for the grant's purpose, and the Foundation will have no further obligation to the grant recipient. Powering Possible ri Equal opportunity lender provider and employer