Modern Giving Account (“Fund”) General Terms 

1. Contributions. You as Donor are making a gift of assets to a 3rd Party Foundation. These assets will be held in a Fund. Donor and/or others may make additional gifts to the Fund from time to time. All gifts to the Fund are irrevocable and subject to Foundation’s governing documents and policies. Foundation’s governing documents and policies may be amended from time to time.

 

2. Advisors. You are a Fund Advisor. When the Fund no longer has Advisors, the Fund will be used for general charitable purposes at the discretion of Foundation.  The Fund is considered not to have an Advisor if the Advisor becomes unwilling or unable to fulfill the role, including due to death, incapacity, resignation or removal and/or the Fund is inactive for more than 18 months and the Advisor does not respond to communications made to the provided contact information.

 

3. Distributions. The Fund is a non-endowed fund and as such all amounts in the Fund are available for distribution. Foudations welcomes recommendations from Advisors about distributions from the spendable portion of the Fund. All recommendations are advisory in nature. Foundation will independently determine whether recommendations it receives are consistent with Foundation’s charitable purposes and applicable law. Foundation may accept or reject recommendations. The Fund will not make grants or distributions to any entity other than qualified public charities exempt from federal taxation under Internal Revenue Code Section 501(c)(3).

 

4. Fees and expenses. Foundation will assess fees against the Fund for administrative and investment services it provides to the Fund in accordance with the fee schedule found in the Modern Giving FAQ. ACF’s published fee schedule may be amended from time to time. Foundation may also assess the Fund for any unusual expenses incurred in connection with the administration and investment of Fund assets.

 

5. Variance power. The Fund is a component fund of Foundation. Assets of the Fund are assets of the Foundation. The Fund is subject to Foundation’s governing instruments and policies. Foundation reserves the power to modify any restriction or condition on the distribution of assets from the Fund if in the sole judgment of Foundation’s Board of Governors (without the approval of any trustee, custodian or agent) such restriction or condition becomes, in effect, unnecessary, incapable of fulfillment or inconsistent with the charitable needs of the area Foundation serves. By way of illustration and not limitation, should the designated beneficiary of a Fund lose its federal tax exempt status, dissolve or change the nature of its programming to a non-charitable purpose, Foundation may choose to direct distributions of Fund assets to another organization conducting activities similar to those of the original beneficiary.

 

6. Other Restrictions. Foundation will treat the Fund as a “donor advised fund” (as defined by Internal Revenue Code provisions) for legal and regulatory purposes. As such and among other things, the Fund may not:

 

.           make or pay grants, loans, compensation or expenses of any kind to private individuals, including the Donor and/or certain persons and entities related to or controlled by the Donor; or

 

.           make distributions to fulfill any pledge, obligation or membership, or to support any activity from which a Donor, Advisor or related party will receive a benefit, including a “bifurcated” grant or payment.

 

Please contact moderngiving@pinkaloo.com for additional information regarding restrictions on distributions from the Fund.

 

7. Terms of Use. By continuing with your use of the Fund and this service, you agree to the “terms of use” and “privacy” accessible via these links. For purposes of section VII (Disclaimers; limitations of liability; indemnification) of the “terms of use” any references meant to include or refer to Pinkaloo Technologies, LLC shall be deemed to also include and refer to Foundation.