Below is the transcribed letter of donation along with the terms and conditions of the grant. The community council will vote on accepting the grant at our Sept. 26th Community Council meeting.
Kluth Family Foundation
August 26, 2010
Freegeek Chicago
3411 West Diversey Street, Basement
Chicago IL, 60647
Dear Sir or Madam:
The Kluth Family Foundation is pleased to enclose a check in the amount of $5,000.00, per the request of Wish Lam, as an unrestricted gift to Freegeek Chicago. This grant is subject to the terms set forth in the attached Grant Terms and Conditions, and by cashing the grant check you are indicating that you agree to its terms.
As the Kluth Family Foundation is a 501(c)(3) non-profit organization, it is not necessary to issue a tax receipt for this donation. If you wish to send a letter expressing your organization's appreciation of this contribution, please mail your correspondence to the name and address specified below.
The Kluth Family Foundation wishes you and your organization every success in your important work. If you have any questions concerning this grant agreement, feel free to call Foundation Source, administrator for the Kluth Family Foundation.
Sincerely,
Foundation Source
Administrator, Kluth Family Foundation
Kluth Family Foundation
Grant Terms and Conditions
Grant Amount: $5,000.00
Grant Recipient: Freegeek Chicago
- Your Tax-Exempt Status: You are exempt under Internal Revenue Code Section 501(c)(3) and currently are classified as a public charity pursuant to Internal Revenue Code Section 509(a)(1),(2) or (3) (an “Exempt Public Charity”).
- Grant Purpose and Expenditure of Funds: This is an unrestricted gift to your organization. You will utilize the grant proceeds only for educational, scientific, literary, religious or other charitable purposes consistent with your tax exempt status described above. You will not use any of the grant, or the interest or income thereon, to conduct tests for public safety, to influence any legislation or the outcome of any election, to conduct a voter registration drive, to satisfy a charitable pledge or obligation of any person or organization other than the Foundation or to provide any tangible economic benefit to any Foundation manager or substantial contributor, or their respective family members. You understand that you will not use the grant proceeds for any other purpose without the Foundation's prior approval in writing.
- Return of Grant Funds: You will return any funds not expended for the purposes described above to the Foundation at the address specified above. You also will return the enclosed donation if your organization is no longer recognized by the Internal Revenue Service as an Exempt Public Charity or would lose its status as a public charity (as per Internal Revenue Code Section 170(b)(1)(A)(vi)) as a result of this donation.
- Foundation Connection: If a Foundation member is an employee, trustee, director or officer of yours or otherwise exercises a position of control or management over you, alone or with others, the grant may be subject to additional terms or rescission. If this is the case, you may not expend any of the grant and you must notify Foundation Source immediately. Additional conditions may apply and it may be necessary for you to return the donated funds.
- Other Terms: These Grant Terms and Conditions control over and supersede any conflicting terms of any document that you may have received concerning the conditions under which this grant is made and are in addition to all other terms and conditions the Foundation may have provided. This grant is subject to these Terms and Conditions and by cashing the grant check, you are indicating that you agree to its terms.
As used herein the term “you” and the like means the recipient of the Grant. The term “Foundation” means the foundation making the Grant.