Distributions from the Fund. (a) The Fund shall be endowed, and the Foundation will make an annual distribution from the Fund calculated in accordance with the Foundation’s Spending Policy as determined from time to time by the Foundation’s Board of Managers. This distribution includes any distribution for scholarships and the Foundation's administrative fee.
Distributions from the Fund. The Agency is the beneficiary of the Fund. Distributions from the Fund shall be in accordance with the spending policy established by the Board of Directors of the Foundation. Distributions shall be made at least annually, or more frequently, as the parties may from time to time agree.
Distributions from the Fund. The Founder may choose to make this Donor Advised Fund endowed (permanent), which limits the amount available for annual grant distributions according to CFAAC’s annual spending policy. The current spend rate is 4%. Select whether this is an endowed fund: This is an endowed fund. Grant distributions are limited to CFAAC’s annual spending policy. This is a partially endowed fund $ (minimum $25,000) of the initial gift will be endowed. The remaining assets will be spendable. Grant distributions from the endowed portion of the fund will be transferred to the spendable portion of the fund annually. This is a non-endowed fund. Grant distributions may be made from the entire balance of this Fund’s assets. If you wish your non-endowed fund to convert to an endowed fund upon your death, please initial here: The undersigned acknowledge that an endowed fund will be managed using a total return concept of endowment management based on CFAAC's spending policy rate as adjusted from time to time by the Board of Trustees.
Distributions from the Fund. All grantees receiving distributions from the Fund will receive correspondence in a form mutually agreeable to Foundation and to the Foundation, and all such distributions shall be described as distributions from “The Foundation, a supporting organization to The Spartanburg County Foundation.”
Distributions from the Fund. The Foundation shall, from time to time, make distributions from the Fund of principal and income to qualified charitable organizations, as that term is defined in the Policies. For a donor advised fund that is established as an endowment fund, only the earnings and income generated by the Fund will be available for distribution. For those funds, the Foundation will make distributions in accordance with the Spending Policy it adopts from time to time. The Foundation has specifically adopted the provisions of the Florida Uniform Prudent Management of Institutional Funds Act (“UPMIFA”). Accordingly, the Foundation will administer all donor advised funds that are set up as an endowment as a UPMIFA fund and make annual distributions from the Fund in such amounts as may be required under its Spending Policy. Should the donor or advisor to the Fund wish that any gift made or distributed from the Fund be made as an anonymous gift, the donor or advisor may instruct the Foundation to honor any applicable confidentiality request. The Fund advisors may make grant recommendations in accordance with the Policies. Distributions shall not be made to fulfill a legally binding pledge, to other than a qualified charitable organization, or for lobbying, political contributions, political campaign activity purposes or to pay for goods and services received by any private person. If no distributions have been made from the Fund for a period of two full calendar years, the Foundation will contact the Donor or advisor and request that a grant request be made. If the Fund remains inactive and no distributions have been made by the end of the third calendar year after the Fund has been established, the Foundation may convert the Fund to an endowment fund, with distributions made to the Residuary Beneficiaries named by the Donor or a qualified charity designated in the Policies, including, but not limited to, the Foundation.
Distributions from the Fund. A. Consistent with the provisions of Section XII hereof, the Trustee is authorized to pay from the Fund reasonable expenses of the Trustee, including fees of accountants and legal counsel to the Trust, and the Trustee's compensation.
Distributions from the Fund a. Distributions shall be made consistent with the charitable purpose for which the Fund has been established and consistent with the exempt purposes of the Foundation as specified in its Articles of Incorporation and Bylaws.
Distributions from the Fund. While the Grantor(s) is living and has capacity, the Grantor(s) may make written recommendations to the Foundation as to the use or application of the Distributable Amount only. After the death or incapacity of the surviving Grantor(s), the 1 Principal expenditure may be offered for funds established with $250,000 or more. Grantor’s/Grantors’ children, , as Successor Advisor2, may make recommendations as to the use or application of the Distributable Amount only during their lifetimes. All recommendations are advisory and must be approved by the Foundation Committee. [Revise if no Successor Advisor.]
Distributions from the Fund. (a) It is the general policy of the Foundation with a fund of this type to distribute the entire principal in consultation with the Donors for the purpose of the fund.
Distributions from the Fund. The Foundation will make distributions from the Fund based on the criteria in EXHIBIT C. Distributions from the Fund are for the purpose of increasing recreational, environmental, and cultural education access as noted in Section 1, above, so long as such uses are legal, do not conflict with any parameters associated with said funds, and do not jeopardize MPRPD’s status with the IRS or enabling legislation.
