Grantmaking. The Donor may periodically submit recommendations regarding grants to be made from the Fund. Each recommendation will be given careful thought and attention, however, it is understood that the Foundation’s Board of Trustees (hereinafter “Board”) retains final authority over all grants and distributions made by the Foundation. Grants from the Fund will be made only to organizations which are qualified public charities and government entities with United States affiliation under Section 501(c)(3) of the Code at the time the grant is made. International grants approved by the Foundation can be made after exercising expenditure responsibility or other required procedures and additional fees may apply. Grantmaking Restrictions - Each recommendation by the Donor will be evaluated independently by the Foundation’s staff to determine if the recommendations are consistent with the purposes of the Foundation and meet the needs of the community as identified by the Board. Grants from the Fund will not be made if the grant will produce more than an incidental benefit to the Donor. Benefits include the payment of pledges, event tickets, meals, sponsorships, registration fees, discounted merchandise, preferred parking and/or seating and memberships unless the membership confers nothing of value. Fundraising Policy - A Donor is permitted to raise money for their Fund. Use of the Foundation’s name on any fundraising material is expressly prohibited without prior approval. The Foundation cannot reimburse the Donor or related parties for expenses related to fundraising activities. All contributions raised in support of the Fund must be made payable to The Miami Foundation with the name of the Fund in the memo line. The Foundation is not responsible for the success of fundraising activities. Fees - The Foundation shall receive an administrative fee, which may be taken from the Fund, for reasonable and proper compensation for services and expenses rendered to and incurred through the administration of the Fund in accordance with the Foundation’s rules governing Donor Advised Funds. Based on the recommendation made in EXHIBIT B, the Fund shall be assessed an investment management fee. Variance Power - The Board shall have the power to modify any restriction or condition on the distribution of money for any specified charitable purpose or to specified organizations if in the sole judgment of the Board (without the approval of any trustee, custodian or agent), such restriction or condition becomes, in effect, unnecessary, impractical, incapable of fulfillment, or inconsistent with the charitable needs of the community or area served. Inactive Funds - A Fund is deemed inactive if one of the following applies: (1) The Donor dies or resigns or evidence of his or her incapacity is provided to the Foundation, and if no successor advisor has been named, (2) All named successor advisors are unable or unwilling to serve as such, (3) No recommendations are made with respect to grants from the Fund for a period of two years and, during such period, the advisor or successor advisor does not reply to the Foundation’s attempts to contact them. If the Fund becomes inactive, the Foundation will designate the remaining balance of the account to a charitable cause in Greater Miami.
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Grantmaking. The Donor may periodically submit recommendations regarding grants to be made from the Fund. Each recommendation will be given careful thought and attention, however, it is understood that the Foundation’s Board of Trustees (hereinafter “Board”) retains final authority over all grants and distributions made by the Foundation. Grants from the Fund will be made only to organizations which are qualified public charities and government entities with United States affiliation under Section 501(c)(3) of the Code, or to organizations which are described in section 170(b)(1)(A) of the Code (other than disqualified supporting organizations) at the time the grant is made. International grants approved by the Foundation can be made after exercising expenditure responsibility or other required procedures and procedures. NOTE: additional fees may apply. Grantmaking Restrictions - Each recommendation by the Donor will be evaluated independently by the Foundation’s staff to determine if the recommendations are consistent with the purposes of the Foundation and meet the needs of the community as identified by the Board. Grants from the Fund will not be made if the grant will produce more than an incidental benefit to the Donor. Benefits include the payment of pledges, event tickets, meals, sponsorships, registration fees, discounted merchandise, preferred parking and/or seating and memberships unless the membership confers nothing of value. Fundraising Policy - A The Donor is permitted to raise money for their Fund. Use of the Foundation’s name on any fundraising material is expressly prohibited without prior approval. The Foundation cannot reimburse the Donor or related parties for expenses related to fundraising activities. All contributions raised in support of the Fund must be made payable to "The Miami Foundation Foundation" with the name of the Fund in the memo line. The Foundation is not responsible for the production and/or success of fundraising activities. Fees - The Foundation shall receive an administrative fee, which may be taken from the Fund, for reasonable and proper compensation for services and expenses rendered to and incurred through the administration of the Fund in accordance with the Foundation’s rules governing Donor Advised Funds. Expenses include, but are not limited to, third-party services such as web design, legal fees and translation services. Any costs associated with the acceptance of illiquid assets will be charged to the Fund. Based on the recommendation made in EXHIBIT Exhibit B, the Fund shall be assessed an investment management fee. Variance Power - The Board shall have the power to modify any restriction or condition placed on the distribution of money for any specified charitable purpose or to specified organizations if in the sole judgment of the Board (without the approval of any trustee, custodian or agent), such restriction or condition becomes, in effect, unnecessary, impractical, incapable of fulfillment, fulfillment or inconsistent with the charitable needs of the community or area served. Inactive Funds - A Fund is deemed inactive if one of the following applies: (1) The Donor dies or dies, resigns or evidence of his or her incapacity is provided to the Foundation, Foundation and if there is no successor advisor has been namedsuccession plan listed in Exhibit A, (2) All named successor advisors Successor Advisors are unable or unwilling to serve as such, (3) No recommendations are made with respect to grants from the Fund for a period of two years and, during such period, the advisor donor or successor advisor Successor Advisor does not reply to the Foundation’s attempts to contact them. If the Fund becomes inactive, the Foundation will designate the remaining balance of the account to a charitable cause in Greater Miami.
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