Foundation’s Responsibilities Clause Samples

Foundation’s Responsibilities. 1. As ▇▇▇▇▇▇, the FOUNDATION will be responsible for all work including the coordination and direction of planning, design and construction of all elements of Phase I of the Project. 2. The FOUNDATION will enter into all contracts required for the design and construction of Phase I of the Project. 3. The FOUNDATION will lease those portions of the premises that are necessary to complete the Project, as described in Attachment A to this LEASE, commencing on the date of this LEASE and continuing until the conveyance, transfer and contribution of the improvements by the FOUNDATION to MSU-Northern at the completion of all work. 4. The FOUNDATION shall not assign or sublease the premises to any other party, nor shall the FOUNDATION use or permit the demised premises to be used for any purpose other than the purposes stated herein. 5. The FOUNDATION shall permit MSU-Northern and its authorized agents and employees to enter upon the demised premises at any and all times to inspect the premises and for any other purpose incidental to MSU- Northern’s business such as routine maintenance. 6. During the term of this LEASE, the FOUNDATION shall permit MSU-Northern to use the demised premises as needed for public events and other reasonable university purposes, at no charge to MSU-Northern. 7. The FOUNDATION agrees to satisfy all requirements of MCA §▇▇-▇▇-▇▇▇ and to negotiate all contracts in the best interests of MSUN and MSU and to include statements, in all contracts issued, specifically stating that no commitment of state appropriations for design, construction, operations or maintenance is either expressed or implied. 8. The FOUNDATION shall make reasonable efforts to minimize disruption of campus utility services and shall coordinate with MSUN representatives prior to the time that any connections are made. If it is necessary to disrupt a utility service, such disruptions shall be at times designated by MSUN to minimize the effects of such disruptions.

Foundation’s Responsibilities and Relationship to the District The Foundation agrees to provide the District the following services: A. To receive and administer gifts of property, real or personal, financial or otherwise, to be used on behalf of the District, its faculty, students, and staff all according to the terms of the donor. In the event the donor does not specify the terms or all the terms for which the gift shall be used, the Foundation shall administer and use the gift for the benefit of the District in accordance with the District's needs and priorities. B. To hold, manage, and distribute assets in its possession for the dedicated purpose of supporting the mission of the District. C. To assist with fundraising efforts as defined by the District through the identification, cultivation, and solicitation of philanthropic contributors to the District. D. To continue to promote the District's best interest, when requested, within the region, state, and nation to raise the visibility and enhance the reputation of the District. E. To keep accurate and confidential financial records of donors and donor funds and to make such records promptly available to the District upon the District’s request. F. To assist with the appropriate stewardship, recognition, and acknowledgement to donors through timely correspondence, gift clubs, and recognition events. G. To abide by ethical and legal practices as is in accordance with the Foundation's charitable 501(c)(3) status. H. To establish a financial plan to underwrite the cost of Foundation programs, operations, and services not provided by the District. I. To have a separate annual audit of the financial records of the Foundation conducted by an independent CPA auditing firm approved by the Foundation Board, and to make all audit information promptly available to the District by the end of the first quarter of each calendar year. J. Provide an annual financial report to the District Board of Trustees, including an annual statement describing the benefits and services of the Foundation. K. To develop and abide by gift acceptance guidelines and policies that are in accordance with the District's mission, goals, policies, procedures, and objectives. L. To provide seed grants for new program development and for the purpose of securing and stewarding institutional relationships and partnerships, including performing all tasks associated with grants, including, but not limited to, grant writing, administering, and reporting. M. To provide scholars...

Foundation’s Responsibilities. 1) To assume custody and control of the Assets or place such Assets in the custody of a duly appointed sub-custodian and pay or deliver any Assets held hereunder upon the Participating Organization’s duly authorized instruction in accordance with the Foundation’s withdrawal policy (see Section 8 above). 2) To invest Assets in one or more of its Common Trust Funds in accordance with this Agreement and investment directions given from time to time by the Participating Organization and to monitor these Assets. 3) To determine total return and expenses on the Common Trust Funds, repricing and adjusting shares for individual accounts on a monthly basis. 4) To keep proper records of all transactions and furnish itemized account statements on a monthly basis.

Foundation’s Responsibilities. The Foundation agrees to diligently work with donor to ensure that pledge payments are received on schedule over the term of the gift agreement.

Foundation’s Responsibilities. The Foundation shall be responsible for the salary (including benefits) of the Coordinator. The City shall prepare quarterly invoices of the salary paid to be paid the Coordinator and the Foundation shall remit payment to the City for this amount within fifteen (15) days of the invoice. Failure to remit payment is a default under this Agreement. Other than the salary payment described in this Subsection, the Foundation shall have no obligations relative to the Coordinator, however the Foundation is encouraged to communicate with the Superintendent about the Coordinator’s performance in the exercise of his or her duties.

Foundation’s Responsibilities. The Foundation agrees to diligently undertake a fund raising campaign and actively solicit financial support for continued development of the new central library facility project.

Foundation’s Responsibilities i. Foundation agrees to receive tax-deductible grants, gifts and contributions for the benefit of CAN and to be used for the Project, and to make those funds available accordingly. ii. Foundation in its sole discretion has the final authority and consent concerning solicitation and receipt of Sponsored Funds. Foundation agrees that such consent shall not be unreasonably withheld. iii. Foundation will review and approve all donor solicitations, acknowledgments to donors, and all required reports to donors in a timely manner to ensure expedient donor communication and reporting. iv. Foundation will receive and administer all Sponsored Funds, including earned revenue, which CAN will use for the Project. Foundation agrees to process all requested expenditures, deemed proper for the benefit of CAN and the Project, in a timely manner. v. Foundation will include all funds received and expenditures made for the Project on its Form 990 tax returns. vi. Foundation will maintain books and financial records of CAN, with respect to the Sponsored Funds only, in accordance with generally accepted accounting principles. The financial records of CAN for the Sponsored Funds will be segregated for departmental reporting purposes and consolidated with the financial records of the Foundation. All such books and records remain the property of the Foundation. In the event of termination, Foundation will make a copy of all such books and records available to CAN, at CAN’s sole expense, and in a format mutually acceptable to the parties. vii. Foundation will provide reports reflecting the overall financial position and financial activity of CAN for the Sponsored Funds on a monthly basis within 3 weeks after the end of each month, and on an annual basis, within 90 days after the end of each fiscal year of the Foundation. viii. Foundation, in consultation with the Leadership Team Co-Chair(s) or designee, shall have the authority to select, employ, and/or enter into consultant contracts and other agreements with, and supervise all persons who perform compensated services on behalf of CAN and in connection with the Sponsored Funds, on such terms and conditions as are consistent with the budget and other requirements of the Sponsored Funds. All such persons shall be classified as employees or independent contractors (in accordance with IRS guidelines) of the Foundation, and the Foundation shall be responsible for all income and payroll tax withholding and reporting and the issuance of ...

Foundation’s Responsibilities. During each year of the term of this Agreement and any renewal term as agreed to by the parties, the Foundation shall provide the following:

Foundation’s Responsibilities