S Grant - Form Creating An Agency Fund Approval of Formation of Community Giving Fund for Orange County

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pools, investment trusts and other investment vehicles. It is understood and agreed that the Fund and all assets therein shall be administered by the Foundation subject to its Charter, Bylaws and policies, including the power contained therein of the Board of Directors of the Foundation to modify any restrictions or conditions if in their sole judgment(without the approval of any trustee, custodian, or agent) such restriction becomes, in effect, unnecessary, incapable of fulfillment, or inconsistent with the charitable needs of the area served by the Foundation 3. Fees: the Foundation shall assess the Fund an annual administration fee of one percent(1.0%) of the Fund balance, with a minimum annual fee of three hundred Dollars ($300.00). The Fund shall also be charged investment management fees separate from the Foundation's administrative fee. Investment management fees include custodial, consulting, and asset manager fees depending on the investment portfolio. Investment management fees are embedded in all portfolio returns; investment performance is reported net of investment manager fees. 4. Fund Distributions: The net income and principal of the Fund, after deducting the expenses of investing and administering the Fund shall be available for withdrawal upon request by the County. Withdrawals from the Fund can only be effectuated by a letter of application signed by the Chair of the Community Fund Management Team. 5. Limitations: The Foundation will not accept gifts if, in the opinion of the Foundation such gifts are made to influence, or have the appearance of attempting to influence, the Directors of the Foundation, the members of the Community Fund Management Team or the Board of County Commissioners, or are not of a philanthropic nature. To this end the Foundation may request that donors disclose any business they have with the members of the Community Fund Management Team or the Board of County Commissioners before accepting the gift. The Foundation shall keep this information confidential and will only be used to determine the acceptability of a potential gift. The County understands and acknowledges that the Foundation cannot raise funds directly for this or any other Fund created in the Foundation. However, the Foundation shall be available to provide technical assistance to effectuate a contribution of complex assets once a potential donor has been identified by the County. 6. Accounting and Reporting: The Foundation shall provide the County with a record of the contributions, investments, and transactions in the Fund through a quarterly mailed fund statement. The County will have access to an online, password protected portal to check fund activity on a daily basis. D. The County's Responsibilities 1. Branding and Marketing: The County shall be responsible for branding and marketing the Fund and soliciting donors. The County shall plan and execute a recognition policy and program for donors. In order to comply with the Foundation's policies and standards, the County will submit to the Foundation for review and approval all public relations materials (including but not limited to brochures, press releases, promotional materials, inserts, commercials for radio or television) associated with the Fund. All volunteer or professional fundraisers hired by the County and associated with the Fund will meet with the Foundation for an orientation on the Triangle Community Foundation and the Fund before soliciting funds.