CENTER FOR ARAB-AMERICAN PHILANTHROPY
A program of the Arab Community Center for Economic and Social Services
DONOR-ADVISED FUND AGREEMENT
This Agreement (“Agreement”) is made and entered into as of the ____ day of
_____________, 20__, by and between the Center for Arab American Philanthropy, a
program of the Arab Community Center for Economic and Social Services (“ACCESS”),
a non-profit 501(c)(3) organization, (“CAAP”), and_____________________________
(the “Donor”).
Recitals
Whereas, the Donor desires to establish, and CAAP is willing to hold and
administer, a donor-advised fund to be known as the ______________________ Fund
(the “Fund”) according to the terms and conditions set forth in this Agreement.
NOW, THEREFORE, IT IS HEREBY AGREED AS FOLLOWS:
1.
Donor Contributions. With this Agreement, Donor is transferring to
CAAP an initial gift in the amount of ___________________ (the “Initial Contribution”)
designated for the Fund. With the consent of CAAP, Donor and any other person or
organization may make additional contributions to CAAP (“Additional Contributions”)
designated for the Fund. The Initial Contribution and any Additional Contribution will
be made in cash, by check payable to the “Center for Arab American Philanthropy” or in
the form of stock. If the Initial Contribution is in the form of stock, the number of shares
and company information will be detailed in an attached Schedule B. Shares of stock
will be valued as of the date of the contribution to CAAP. The Initial Contribution and
Additional Contributions are absolute and irrevocable gifts to CAAP and are subject to
the terms and conditions set forth herein.
2.
Investment of Fund Assets. Control over the investment or reinvestment
of the assets of the Fund shall be exercised exclusively by CAAP and CAAP shall invest
the assets of the Fund in accordance with its investment policies as established from time
to time. The Fund shall be accounted for separately and apart from other funds of CAAP,
but assets of the Fund may be commingled with other assets of CAAP.
3.
Donor’s Recommendations. The Donor or other qualified advisor named
in Schedule A (each, an “Advisor”) has the right to, and is encouraged to, make grant
recommendations to CAAP for grants from the Fund to Eligible Grant Recipients, as
defined below. Donor Recommendations must be made in writing. Any recommendation
regarding grants or awards for charitable purposes by the Donor shall be given careful
and thoughtful consideration by CAAP. It is understood that these recommendations shall
not be binding on CAAP. CAAP will retain final authority over all grants made from the
Fund.
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4.
Eligible Grant Recipients. Grants may be made (a) to organizations
formed under the laws of the United States and described as public charities under
Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, and the regulations
thereunder (the “Code”); and (b) that exclusively further the charitable purposes of
CAAP. Public charities which are organized under the laws of the United States, but
which conduct activities outside of the United States are considered Eligible Grant
Recipients.
5.
Minimum Grant Distribution.
Donor agrees that all of its
recommendations to CAAP for grants from the Fund to Eligible Grant Recipients will be
in the minimum amount of Two Hundred Fifty Dollars ($250).
6.
Ownership and Control of the Fund and Distributions from the Fund.
Donor acknowledges and confirms that CAAP, and not the Donor, is the legal owner of
the Fund and has the ultimate authority, discretion and control over all property in the
Fund and the income derived therefrom.
7.
Fund as Component of CAAP. The Fund shall be a component part of
CAAP and not a separate entity for tax purposes, and nothing in this Agreement shall
affect the status of ACCESS as a charitable organization described in Section 501(c)(3)
of the 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. CAAP 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.
8.
Restrictions on Distributions from the Fund. No grant will be used to
discharge or satisfy a legally enforceable charitable pledge or obligation of any person, or
to pay for goods or services of value received by the Donor or any Advisor, or otherwise
provide a benefit to the Donor or any Advisor (e.g., membership dues, admission to
charitable events).
9.
Charitable Contribution Receipt. Donor understands that CAAP is a
program operated by ACCESS. As such, Donor will receive a charitable contribution
receipt, recognizing the Initial Contribution and Additional Contribution, if applicable,
from CAAP, as a program of ACCESS.
[Remainder of page intentionally left blank.]
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IN WITNESS WHEREOF, CAAP and Donor have caused this Agreement to be
executed by their duly authorized officers or representatives, as of the date first above
written.
CENTER FOR ARAB-AMERICAN PHILANTHROPY
Signature: _________________________
Name: Maha Freij
Title: Deputy Executive Director & CFO, ACCESS
[DONOR]
If donor is an individual:
Signature: _________________________
Name: ____________________________
If donor is a corporation or other legal entity:
Entity name:_________________________
Signature: ___________________________
By: ________________________________
Title: _______________________________
Contributions can be mailed to:
Center for Arab American Philanthropy
2651 Saulino Court
Dearborn, MI 48120
Attn: Katherine Hanway
Donor Services and Program Officer
313-842-5130
khanway@accesscommunity.org
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CENTER FOR ARAB-AMERICAN PHILANTHROPY
SCHEDULE A
Donor-Advised Fund Advisors
______________________________________________________________
[Name of Donor-Advised Fund]
An Advisor is a person currently authorized to recommend grants from the above-named
Donor-Advised Fund. If more than one Advisor is named, each Advisor is authorized to
recommend grants from the Donor-Advised Fund.
Primary Advisor(s)
The Primary Advisor(s) shall act until the death, resignation, refusal, removal, or inability
to act of the last named Primary Advisor.
Name: _______________________________________ Phone: ________________
Address: _____________________________________ Fax: __________________
_____________________________________________ E-mail: ________________
Name: _______________________________________ Phone: ________________
Address: _____________________________________ Fax: __________________
_____________________________________________ E-mail: ________________
Name: _______________________________________ Phone: ________________
Address: _____________________________________ Fax: __________________
_____________________________________________ E-mail: ________________
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SCHEDULE B
Contributions of Stock to the Donor Advised Fund
Stock (company name)
Stock Symbol
Number of Shares
_____________________
___________
________________
_____________________
___________
________________
_____________________
___________
________________
_____________________
___________
________________
_____________________
___________
________________
_____________________
___________
________________
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