Inactive Funds. If a Fund shows no activity (grants or contributions) for three years or more, the Federation will attempt to contact the Primary Advisor(s), other Fund Advisor(s), and/or any Interested Parties. If the Fund remains inactive for another year after this notification, and the Fund is inactive for a total of four years, the Fund may be closed and the Fund assets may be distributed according to this agreement.
Inactive Funds. The Fund shall be deemed inactive if no recommendations are made with respect to distributions from the fund for a period of two years. The Community Foundation shall give written notice to the Advisor. The Donor or Advisor shall have 90 days from the date of the written notice to make a recommendation with respect to a distribution from the Fund. If the Donor or Advisor fails to make a recommendation within the 90-day period, the Community Foundation shall terminate the Fund and assets of the Fund shall be distributed to the permanent endowment fund of the Community Foundation.
Inactive Funds. If there is no activity in a DAF for 5 years, then 100% of the DAF will be transferred to the Community Foundation’s unrestricted control to assist with operations and discretionary grant making. SIGNATURES
Inactive Funds. If there are no gifts to a donor-advised fund for 36 consecutive months and the Foundation has not received a grant recom- mendation from the advisor during the same 36 month period, the Foundation will attempt to contact the advisor to ascertain the advisor’s desired level of involvement with the Fund. If the advisor or successor advisor does not respond after three attempts by the Foundation to contact the advisor (and, if one has been named, a successor advisor) at the most recent address or phone number in the Foundation’s records, then the fund shall be used to support the Foundation’s charitable activities based on the Foundation’s spending policy at that time. If at a later date the advisor (or, if the advisor has died, a named successor advisor) chooses to become engaged in advising the fund, such privilege will revert back to such advisor (or such successor advisor).
Inactive Funds. The Foundation encourages the Primary Advisor(s) to maintain an active role with the Fund. In order to carry out its mandate of distributing charitable dollars to the community, the Foundation shall annually review the Fund’s activity. Should the Fund have no activity (e.g., contributions, grants, or inter-fund transfers) for more than two years, the Foundation will attempt to contact the Fund’s Primary Advisor(s), professional advisor(s) (if any), and/or other named advisor(s). If the Fund remains inactive for another year following the Foundation’s notice of inactivity (for a total of three years of inactivity), the Fund may be closed and the Foundation may follow the instructions for disposition of Fund assets as indicated in this Agreement.
Inactive Funds. If the value of the Fund drops below the then applicable established minimum account and there is no activity by asset transfer into an Agency Fund for 36 consecutive months, the Foundation will attempt to contact the Fund representatives to ascertain the Charitable Organization’s intentions to bring the Fund above the minimum required account balance. If the representatives do not respond after three attempts by the Foundation to contact them, the Foundation may, in its sole discretion, distribute the entire fund balance to the Beneficiary Organization.
Inactive Funds. The Fund shall be deemed inactive if no recommendations are made with respect to distributions from the fund for a period of two years. The Community Foundation shall give written notice to the Advisor. The Donor or Advisor shall have 90 days from the date of the written notice to make a recommendation with respect to a distribution from the Fund. If the Donor or Advisor fails to make a recommendation within the 90-day period, the Community Foundation shall terminate the Fund and assets of the Fund shall be distributed to the permanent endowment fund of the Community Foundation. Donor Advised Endowment Fund Agreement 1/4/2017 5 IN WITNESS WHEREOF, this Agreement is signed this day of , 20 , DONOR BY: PRINT NAME: ADDRESS: BY: PRINT NAME: ADDRESS: WHITEFISH COMMUNITY FOUNDATION, INC. BY: PRINT NAME: TITLE: Donor Advised Endowment Fund Agreement 1/4/2017 6 Donor Advised Fund Guidelines These Guidelines are incorporated by reference in the Whitefish Community Foundation Donor Advised Fund Agreement, and they apply to all Donor Advised Funds. These Guidelines revoke and replace any prior Donor Advised Fund Guidelines. Any Donor Advised Fund (“Fund”) established with the Whitefish Community Foundation (the “Community Foundation”) shall be subject to the following terms and conditions:
Inactive Funds a. If neither the Donor nor its successor Advisors advises the Foundation regarding grants from the Fund for three (3) consecutive years, the Foundation may send written notice to the last known address of the Donor and/or successor Advisor of its intention to terminate the right to recommend distributions from the Fund unless the Donor or Advisor gives other instructions within ninety (90) days of the notice.
Inactive Funds. In order to carry out its mission of distributing charitable dollars into the community, WCCF will review on a periodic basis the grantmaking activity of its Donor- Advised Funds. If a fund has failed to make distributions commensurate in size with WCCF’s spending policy over a two-year period, WCCF will contact the advisor(s) to discuss the situation. If the advisors(s) cannot be located or are unresponsive, the future plans and intentions documented in the fund agreement will be considered. If no gifts are received and no grants are recommended from a fund during a 24-month period prior to January 1st of each year, the fund may be declared “inactive.” Available funds for grantmaking will be used for Community Grants and distributed by WCCF. If no gifts are received and no grants are recommended over five years, WCCF retains the right to transfer the fund balance to its General Purpose Community Grants Fund.
Inactive Funds. In order to carry out its policy of consistently distributing charitable dollars to the community, the Foundation will review periodically the grantmaking activity of every advised fund. If a fund has failed to make distributions commensurate in size with the Foundation’s spending policy over a two-year period, the Foundation will contact the advisor(s) to discuss this situation. At that time, the advisor(s) will be given the following options: • Recommend that the balance of the fund be granted to one or more 501(c)(3) public charities of their choice. • Recommend that the balance of the fund be used to support the Three Rivers Community Fund, where funds will be distributed by the Foundation to meet the most pressing needs of the community. The advisor may also indicate an area of interest, which can also be benefited through the Three Rivers Community Fund. • Provide a plan for funding a specific charitable project that requires an accumulation of resources for more than a two-year period. In the event that the advisor(s) cannot be located or is unresponsive, the balance of the fund will be used to support the Foundation’s Three Rivers Community Fund.
