DONOR ADVISED FUND

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Donor Advised Fund Agreement

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THIS AGREEMENT, made the ____ day of ________________, 2007, between: _______________________________________________________ (The “Donor”) and Parasol Tahoe Community Foundation, Inc. (PTCF), is as follows: The Donor desires to create a “Donor Advised Fund” with the property hereinafter specified to support educational and charitable purposes. The Donor may transfer to the Fund at any time, additional property acceptable to the PTCF, for such purposes. In consideration of the promises and mutual covenants contained herein, the Donor does hereby irrevocably assign, convey, transfer and deliver to the PTCF the property set forth in Exhibit A, together with any other property acceptable to the PTCF which the Donor may transfer to the Fund and the PTCF may hereafter at any time hold or acquire hereunder as part of the PTCF, all subject to the terms and conditions of this Agreement. The PTCF will have exclusive legal control over the contributed assets as designated by law. 1. Establishment of the Fund: The Fund hereby created shall be known as the: ________________________________________________________________________ Fund (the “Fund”) and, as a component fund of the PTCF, shall be established for the purpose and subject to the terms and conditions herein set forth. 2. Purpose: The Fund is intended to provide support for educational and charitable purposes and disbursements from the Fund shall be made in support of such purposes within Internal Revenue Service Code Section 501 (c) (3) and 501(a). 3. Disbursement: The PTCF, shall collect and disburse grants exclusively for general educational and charitable uses and purposes, in accordance with the provisions specified in the Articles of Incorporation and Bylaws creating the PTCF, all of which are incorporated herein by reference and conclusively assented to and adopted. 4. Investment: The PTCF shall hold, manage, invest and reinvest the Fund in keeping with the PTCF’s Investment Policy. Any income earned on the Fund’s assets will accrue to the Fund per the following fee schedule. 5. Fees: The minimum for establishing a Donor Advised Fund is $5,000. Each additional donation to a Fund will be assessed an administration support fee, this fee is outlined on the Fund Fee Schedule as attached. Fund administration support fees are at the discretion of the Board and may be changed. 6. Component Fund: It is intended that the Fund shall be a component fund and part of the PTCF as defined in Section 1.170A-9(e) (11) of the Income Tax Regulations and that nothing in this Agreement shall affect the status of the PTCF as an organization (a.) described in Section 501 (c) (3) of the Internal Revenue Code of 1986 (“Code”) and (b.) which is not a private foundation within the meaning of Section 509 (a) of the Code. This Agreement shall be interpreted in a manner consistent with the foregoing intention and conform to the requirements of the foregoing provisions of the Federal tax laws and any regulations.

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Donor Advised Fund Agreement

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7. Variance Power: The Fund is protected from obsolescence in accordance with the provisions specified in the Articles of Incorporation and Bylaws creating the PTCF, all of which are incorporated herein by reference and conclusively assented to and adopted. Should the purposes for which the Fund was created become obsolete or incapable of fulfillment, it is the Board of Director’s responsibility, after contacting the donor, to revise the charitable intent of remaining funds to use for a purpose as similar as possible to those set forth in this agreement. 8. Public Foundation Condition: All transfers of property under this Agreement are subject to the condition that the PTCF, as of the date of transfer, is classified in good standing by the Internal Revenue Service as an organization (a.) described in Section 501 (c) (3) of the Code and (b) which is not a private foundation as defined in Section 509 (a) of the Code. 9. IRS Compliance: This Fund and this Agreement shall comply with and be restricted by the Internal Revenue Code Treasury Regulations applicable to the Fund. This Agreement may be amended to comply with the provisions of the Internal Revenue Code. The phrase “charitable uses and purposes” shall be defined as all of those activities, uses and purposes described in Section 501 (c) (3) of the Internal Revenue Code. 10. Choice of Law: The Fund created by this Agreement shall be administered in and under the laws of the State of Nevada, and this Agreement and the validity thereof shall be governed by and construed in accordance with the laws of the State of Nevada. IN WITNESS WHEREOF, the donor and the PTCF have executed this Agreement as of the date first above written.

Donor(s)
_______________________________ AUTHORIZED SIGNATURE 1 _______________________________ AUTHORIZED SIGNATURE 2 _____________________________ PRINTED NAME _____________________________ PRINTED NAME __________ DATE __________ DATE

Parasol Tahoe Community Foundation
_______________________________ AUTHORIZED SIGNATURE ____________________________ PRINTED NAME __________ DATE

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Donor Advised Fund “Exhibit A”
Donor and Fund Information:
Donor Advised Fund Name: Donor/s: Mailing Address: City: Phone: State: E-mail: Zip:

Fund Details:
Fund Set Up Date: Form of Initial Deposit: Fund Administration Fee: Fund Advisors: Successor Charitable Interest: Amount of Initial Deposit:

Investment Projection:
Investment of the Fund will be made considering the period over which grants are to be made from the fund. Please indicate by checking one of the periods of time below how long you expect these funds to last.  Less than 1 year 1 to 2.99 years  3 to 6.99 years  7 plus years

Donor(s)
_______________________________ AUTHORIZED SIGNATURE 1 _______________________________ AUTHORIZED SIGNATURE 2 _____________________________ PRINTED NAME _____________________________ PRINTED NAME __________ DATE __________ DATE

Parasol Tahoe Community Foundation
_______________________________ AUTHORIZED SIGNATURE ____________________________ PRINTED NAME __________ DATE

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posted:10/31/2009
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