Donations and grants Clause Samples
The 'Donations and grants' clause defines the terms under which a party may provide financial or in-kind contributions to another party, typically for a specific purpose or project. It outlines the conditions for making such donations or grants, such as eligibility requirements, reporting obligations, and permitted uses of the funds or resources. This clause ensures transparency and accountability in the handling of donated or granted assets, helping to prevent misuse and clarify the expectations of both the donor and the recipient.
Donations and grants. There shall be established, under the Executive Council, Abyei Resettlement, Construction and Development Fund to handle relief, repatriation, resettlement, reintegration, rehabilitation and reconstruction programmes in the Area. The Fund may establish specialized agencies.
Donations and grants. KASC may solicit, receive, and manage on behalf of the School grants and donations consistent with the mission of the School and this Agreement.
Donations and grants. Both the School and ReGeneration may solicit and receive grants and donations consistent with the mission of the School.
Donations and grants. In the event MFB collects cash donations on behalf of AGENCIES, these donations become temporarily restricted grants to pay the SMC and/or purchase food. Use of these grants for other purposes must be approved in advance by MFB. AGENCY designated cash donations turn into grants that are expected to be used within one year after the donation date. Cash donations on behalf of AGENCIES who have more than 12 months of grant funds (based on a rolling 3-year SMC average) will not be accepted. Direct, designated, or matching grants from/through MFB become grants to pay the SMC and/or purchase food with a one year grant period. Proposed use of these grants for any other purposes must be approved in advance by MFB. MFB grants are expected to be used within one year after being granted and any remaining grant funds will be reallocated to another agency after the end of this grant period. Other grants, such as ACTS (Agency Credit Through Service), Volunteer Credits, Food Drive participation credits, etc. are also turned into earned activity grants that AGENCIES can use to pay the SMC and/or purchase food. Earned activity grants are recorded as temporarily restricted grants on a monthly basis and will expire in 12 months. All grants, including the ones described here, will be subject to an expiration date, which will be no later than TWELVE MONTHS FROM THE DATE IT WAS MADE/CREATED/DESIGNATED. Only AGENCIES in good standing are eligible to receive grants. All donations made to MFB for the benefit of an agency are considered temporarily restricted gifts. These donations are both time and purpose restricted and must be used to benefit an AGENCY (i.e. food, capacity building grants, etc.). MFB will make reasonable efforts to utilize these funds for the designated purposes, but reserves the right to reallocate unused grants and cash donations to support other MFB work.