Funding of the Alumni Foundation Operations. The Alumni Foundation is responsible for establishing a financial plan to pay the costs of the Alumni Foundation programs, operations, and services. In addition to the consideration for the services provided under this Agreement, the Alumni Foundation has the right to impose reasonable fee assessments on funds established with the Foundation. Except as outlined herein or as otherwise agreed, the Alumni Foundation, at its own expense, will recruit, employ, and retain personnel and provide office space, computer and telephone systems, utilities, office supplies, and other such services that may be necessary or required to fulfill its responsibilities and obligations. In fulfilling this requirement, the Alumni Foundation, in its sole discretion, may lease the necessary space and/or equipment from the University or another entity. Any lease shall be governed by a separate agreement.
Funding of the Alumni Foundation Operations. The Alumni Foundation is responsible for establishing a financial plan to pay the costs of the Alumni Foundation programs, operations, and services. In addition to the consideration for the services provided under this Agreement, the Alumni Foundation has the right to impose reasonable gift and management fees. The Alumni Foundation shall provide the University with at least six (6) months’ notice of any change in gift and management fees. Except as outlined herein or as otherwise agreed, the Alumni Foundation, at its own expense, will recruit, employ, and retain personnel and provide office space, computer and telephone systems, utilities, office supplies, and other such services that may be necessary or required to fulfill its responsibilities and obligations.
Funding of the Alumni Foundation Operations. The Alumni Foundation is responsible for establishing a financial plan to pay the costs of the Alumni Foundation programs, operations, and services. In addition to the consideration for the services provided under this Agreement, the Alumni Foundation has the right to impose reasonable gift and management fees. The Alumni Foundation shall provide the University with at least six (6) months’ notice of any change in gift and management fees. Under no circumstances will the Alumni Foundation use net investment income or retained earnings from subsidiary organizations to pay for, or reimburse itself, for Alumni Foundation operating costs not directly attributable to the corresponding subsidiary organization, without the express written approval of the University’s President. For clarity, the preceding sentence allows the Alumni Foundation to be reimbursed for (a) its formally documented capital investment in Advanced Technology, Inc. (“ATI”) to acquire the property held by ATI and (b) amounts owed to the Alumni Foundation in accordance with the Memorandum of Agreement between the Alumni Foundation and Montana State University Innovation Campus (“MSUIC”) signed August 31, 2017 and related documents. Except as outlined herein or as otherwise agreed, the Alumni Foundation, at its own expense, will recruit, employ, and retain personnel and provide office space, computer and telephone systems, utilities, office supplies, and other such services that may be necessary or required to fulfill its responsibilities and obligations.
Funding of the Alumni Foundation Operations. The Alumni Foundation is responsible for establishing a financial plan to pay the costs of the Alumni Foundation programs, operations, and
