S Triangle Community Foundation - Form Creating an Agency Fund

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EXHIBIT- B ORANGE COUNTY AGENCY FUND MANAGEMENT AGREEMENT This Agency Fund Management Agreement("Agreement")made and entered into this the day of , 2013 ("Effective Date") by and between Orange County, North Carolina a body politic and corporate of the State of North Carolina(the "County") and Triangle Community Foundation (the" Foundation"). In consideration of the representations, warranties, covenants and agreements herein, the parties agree as follows: A. Purpose The purpose of this Agreement is to describe and set forth the terms and conditions pursuant to which THE FOUNDATION will provide investment management and other services with respect to the agency fund created by the County. B. Agency Fund Creation County shall establish a Non-Endowed Agency Fund known as the Orange County Community Giving Fund (the "Fund") for the benefit of the County and its Departments providing services to the residents of the County (the "Charitable Designees"). The County shall make an initial contribution in the amount of Ten Thousand Dollars ($10,000)to create the Fund. The County may make additional contributions to the Fund from time to time or create additional agency funds in its sole discretion and upon written notice to the Foundation. Gifts may be added to the Fund at any time by others interested in supporting the various community projects and services provided by the County ("Donors"). Any and all of the assets contributed by the County or its donors and all accretions thereto shall become the assets of the Foundation for the benefit of the County and its Charitable Designees. C. The Foundation's Responsibilities 1. Acknowledgment and Receipt of Fund Contributions: The Foundation shall acknowledge all contributions to the Fund from the County and Donors whether in the form of real or personal property including cash, checks, online contributions, stocks and bonds. The Foundation shall review and make a determination on all potential gifts before acceptance or rejection. The Foundation shall provide each Donor a tax acknowledgement verifying that no goods or services were provided in exchange for the contribution to the Fund. The Foundation shall inform the County about any contribution designations made by the Donors while contributing to the Fund. To the extent the Foundation has capacity to do so, the Foundation shall note in its records any donor designated tax-exempt purpose of the contribution. 2. Management of Fund Assets and Standard of Care: the Foundation shall maintain the Fund as a Non-Endowed Agency Fund. The Foundation's Board of Directors shall have full authority and discretion as to the investment and reinvestment of the assets of the Fund. During the term of this Agreement, the Foundation shall have the power to sell, transfer or otherwise dispose of the Fund assets, and may invest and reinvest the Fund assets in securities, investment