PROJECT SPECIFIC FUND AGREEMENT
Attention: Amber Kiggens-Leifheit
Executive Director
This agreement is made as of the 30th day of January, 2015 by and between Dave, Tammy, Lindsay
Meissner and the Marshfield Area Community Foundation (MACF) for the purpose of establishing a
Fund within the Marshfield Area Community Foundation. The Fund will be known as the Jeremy
Meissner KidZone Fund.
The Donor(s) anticipate the Project to commence 1-30-2015
The Donor(s) anticipate the Project to be completed ___1-30-2025___________________
The Donor(s) anticipate the Project to cost $8,000,000.00
- If a legal entity exists, proper documentation is required (articles of incorporation,
bylaws, tax-exempt ruling, etc.)
- If no legal entity exists, a written statement of purpose, individuals involved, those
benefited and other pertinent information is required.
The Marshfield Area Community Foundation (MACF) will provide administrative services to charitable
activities regardless of whether or not a legal entity exists.
Administrative services include:
-
Receiving collected funds;
-
Maintaining records and reporting quarterly to fund raisers;
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Carrying out correspondence with fundraisers, donors, vendors and others;
-
Properly acknowledging donations of all sizes;
-
Managing the funds by investing in short term, cash equivalent securities;
-
With proper authorization, disbursing funds to vendors, etc. for the project.
Services are rendered on a project basis to be completed within schedule or within a reasonable time
frame thereafter.
All fund raising projects must meet with MACF approval.
MACF will retain all earnings from the fund and establish a fee for its services. In addition, MACF will
not charge an initial set-up fee for this project.
Approved April 2014 Exec Committee
Project Specific Fund Agreement
Page 1 of 2
At the completion of the project, as determined by MACF, all residual principal, subject to the policy of
MACF concerning named funds and with the consent and cooperation of the Donor or Donor(s)’ agent(s)
or designee(s), will be transferred to a Donor Advised Fund with the MACF for maintenance of the
Project. If the Fund has not received any gift and has not paid any expense for a continuous period of 24
months, the foundation will provide written notice to the Donor or Donor’s agent(s) of the requirement to
convert the Fund, within ninety (90) days of the notice, to a Donor Advised Fund as set forth above but
failing same to a new fund type acceptable to the Foundation. Failing timely conversion by the Donor as
required herein, the entire balance of the Fund will be transferred to the unrestricted Forever Fund with
the Foundation. If the project cannot be completed for any reason, the MACF Board of Trustees will
determine disposition of the fund.
The Budget and Financial Committee Chairman is responsible for approving all disbursement requests for
project specific funds.
All gifts are irrevocable.
The Fund shall be held and administered subject to the provisions of the Foundation’s Trust Document,
By-laws and/or other governing instrument(s) as presently in effect or as each may from time to time be
amended, including those provisions which may permit the Foundation’s Board to amend, modify, or
vary any of the directions, restrictions or conditions set forth herein.
Upon notice to the Donor,
authorized agent(s) or other designee(s) of the Donor, under the Foundation’s governing instrument(s)
and in accordance with federal tax laws, the Foundation may modify any restriction(s) but only if it
determines that such restriction(s) is/are no longer necessary, are incapable of fulfillment, or have become
inconsistent with the charitable needs of the community which it serves.
Accepted as of the date set forth above.
By:
Title
On behalf of
By:
Title
On behalf of
Approved April 2014 Exec Committee
Project Specific Fund Agreement
Page 2 of 2
By:
Title
On behalf of
By:
Amber Kiggens-Leifheit
Executive Director
Patrick Saucerman
Budget & Finance Committee Chair
On behalf of the Marshfield Area Community Foundation
Approved April 2014 Exec Committee
Project Specific Fund Agreement
Page 2 of 2