FUND TERMS AND CONDITIONS. The provisions of the current GHCF “Fund Terms and Conditions” document are incorporated in their entirety into this agreement.
FUND TERMS AND CONDITIONS duties of a fund advisor. Successor advisors may not appoint further successors but may appoint additional fund advisors as long as they are in the same generation as the successor advisor. If the successor advisor is a minor, the community foundation’s board of directors reserves the right to require that grant recommendations be made by the minor’s legal guardian. All requests to modify or appoint additional advisors and successor advisors to a fund must be communicated to the community foundation in writing. In addition, a written acknowledgement must be received from the community foundation confirming that the request has been granted. If the community foundation has not received the name(s) of an additional advisor(s) or successor advisor(s) to the fund, or other special instructions, in writing, the community foundation will use the fund’s balance to support the community foundation’s Community Endowment Fund. The following Fund Advisory Privileges and Fund Relationship Definitions further explain the role of advisors and other interested parties to funds at the community foundation. These terms correlate to the Fund Agreement forms and will determine the fund’s contacts and advisors. Fund Relationship and Fund Advisory Privileges Definitions: Primary Contact: One person per fund who should be contacted first for anything concerning the fund. This individual may or may not have fund advisory privileges.
FUND TERMS AND CONDITIONS. Tax Status The Fund shall be a component fund of the Foundation and not a separate entity for tax purposes. Nothing in this agreement shall affect the status of the Foundation as a charitable organization described in Section 501(c)(3) of the Internal Revenue Code and as an organization that is not a private foundation within the meaning of Section 509(a) of the Code. This Agreement shall be interpreted to conform to the requirements of the foregoing provisions of the federal tax laws and any regulations issued pursuant thereto. The Foundation is authorized to amend this Agreement to conform to the provisions of any applicable law or government regulation in order to carry out the purposes of the Fund. Any contribution to a component fund is automatically treated as a gift to a 501(c)(3) public charity and is generally income tax deductible, subject to IRS individual deductibility rules. Acceptance of charitable contributions other than cash or marketable securities must first be approved bythe Foundation. The Foundation does not provide tax or legal advice; we recommend consulting a professional advisor if you have questions about a charitable gift tothe Foundation.
FUND TERMS AND CONDITIONS. Tax Status of Contribution Funds established at the St. Louis Community Foundation, Inc. (the “Community Foundation”) are component funds of the Community Foundation, a Section 501(c)(3) public charity. Contributions other than cash or marketable securities must first be approved by the Community Foundation. Contributions to the Community Foundation generally are tax‐deductible, subject to individual limitations and applicable tax rules. The Community Foundation does not provide tax or legal advice. We recommend that you consult a professional advisor (such as an experienced accountant or tax attorney) if you have questions about the tax or other treatment of a gift to the Community Foundation.
