ࡱ> %` ,<bjbjٕ 8r% n  - - -8B-d-l E4.....222cDeDeDeDeDeDeD$BGhID ,412,4,4D..D4888,4| . .cD8,4cD88V3A@ A.. 9^ -4TsA cDD<EATTJ5TJAA8TJ BX2>13,8]3$3222DD8222E,4,4,4,4 d" - -   Donor Advised Fund Agreement With this Agreement, __________________________ (the Donor) transfers to PARSA Community Foundation (the Foundation), as of the ___ day of _____________, 200__, ownership of the property listed below. This property is an irrevocable gift from the Donor to the Foundation and, upon the Foundations acceptance of the gift, is subject to the following terms and conditions: 1. Creation of the Fund. A Donor-Advised Fund shall be established as a fund on the books of the Foundation and shall be known as the _________________________________ Fund of the Foundation (the Fund). The Foundation shall apply all assets that it holds in the Fund to the charitable purposes of the Foundation as stated in the Foundations governing documents. The Donor acknowledges and agrees that the Foundations governing documents, as they may be amended from time to time, shall govern the Fund. 2. Initial Gift. The Donors initial gift to the Foundation for inclusion in the Fund shall consist of the assets identified on Schedule C to this Agreement. Gifts to the Foundation for inclusion in the Fund, once accepted by the Foundation, are irrevocable. 3. Assets Held in the Fund. The Fund shall include the property transferred with this Agreement, any other property which the Donor or others may later transfer to the Foundation for inclusion in the Fund if accepted by the Foundation, and such income from property in the Fund as the Foundation may, in its discretion, credit to the Fund. The Foundation may charge reasonable administrative fees to sustain the cost of stewarding, overseeing, and administering the Fund. The fee schedule as of the date of this Agreement appears on Schedule C and is subject to change. 4. Investment of Fund Assets. Assets held by the Foundation in the Fund may be commingled for investment purposes with other assets of the Foundation. Investment returns attributable to the Funds assets shall be added to the Fund on the Foundations books. The Fund shall comply with the provisions of Internal Revenue Code Section 4943(e) regarding the excess business holdings of donor-advised funds. 5. Grant Recommendations; Donor/Advisor Recognition. The Donor or other person named in Schedule A to this Agreement (the Advisor) has the right to, and is encouraged to, recommend grants to nonprofit public benefit organizations whose activities are consistent with the Foundations charitable purposes. Advisors should review the Foundations eligibility guidelines as set forth in the Donor Policies available for review on the Foundations web site, and as amended from time to time. The Foundation encourages Advisors to recommend distributions to grantees that the Foundation has identified as eligible, but welcomes recommendations of new public benefit organizations. The Foundation will identify grants from the Fund as coming from the _______________ Fund of PARSA Community Foundation unless the Advisor requests anonymity. Upon the request of the Advisor, the Foundation will identify the Advisor as the source of the recommendation. All grant letters will be signed by an authorized representative of the Foundation and may not be signed by a Donor or Advisor. 6. Certain Recommendations and Distributions Not Permitted. Advisors may not recommend, and the Foundation shall not make, grants that will satisfy any pledge or personal economic obligation of, confer any other economic benefit upon, or provide more than an incidental benefit to the Donor, an Advisor, or any person or entity related to a Donor or Advisor to the Fund. Advisors may not recommend, and the Foundation shall not make, any distributions that pay for goods or services of value received by the Donor, Advisor, or related party, or otherwise provide a benefit to the Donor, Advisor, or related party (such as membership dues or fundraising event admissions). Advisors may not recommend, and the Foundation shall not make, any distribution from the Fund that constitutes, or results in, a grant, loan, or compensation to a Donor, Advisor, or any person or entity related to a Donor or Advisor. Advisors may not recommend, and the Foundation shall not make, any distributions to individuals; to a U.S. charitable organization that is a private non-operating foundation or a Type III supporting organization that is not functionally integrated within the meaning of Internal Revenue Code Section 4943(f)(5); or to any charitable organization, wherever located, that is controlled by the Donor, Advisor, or related parties. 7. Minimum Activity Level. The Foundation will make charitable distributions from the Fund in such amounts, in such ways, and for such purposes as the Foundation may determine, in its sole and independent discretion, consistent with the Foundations charitable purposes and with applicable law. If the Advisor does not recommend distributions for 36 consecutive months, the Foundation shall transfer an amount equivalent to 20% of the assets then held in the Fund to the Foundations unrestricted general fund and shall apply that amount as the Board, in its discretion, shall determine. If the Advisor does not recommend distributions within 12 months of such transfer, despite the Foundations best efforts to contact the Advisor, the Foundation shall terminate his or her advisory privileges and the Fund shall become part of the Foundations unrestricted general fund. 8. Foundation Ownership and Authority. The Donor acknowledges and confirms that the Foundation owns the Fund and has the ultimate control, discretion, and authority over all assets that the Foundation may hold in the Fund and all income that may be derived from those assets. The Donor also acknowledges and confirms that the Foundation has the authority to vary the terms of the gift as provided in the Foundations governing documents and as required by the laws and regulations of the United States governing community foundations. 9. Foundation Legal Compliance. The Fund shall be a component part of the Foundation, within the meaning of Treasury Regulation Section 1.170A-9(e)(11), and not a separate entity for tax purposes. The Fund is expressly subject to the powers of the Foundations Board of Directors, including the power to unilaterally modify any condition or restriction of the Fund if, in the Boards judgment, such a condition or restriction becomes unnecessary, incapable of fulfillment, or inconsistent with the needs of the community that the Foundation serves. Nothing in this Agreement shall affect the status of the Foundation as a publicly supported charitable organization described in Internal Revenue Code Sections 501(c)(3) and 509(a)(1). This Agreement shall be interpreted to conform to the requirements of these statutes, to all other federal tax statutes applying to donor-advised funds, and to the Treasury Regulations accompanying such statutes. The Foundation is authorized to amend this Agreement to conform to the provisions of any applicable law or governmental regulation in order to carry out the purposes of the Foundation and the Fund. 10. Ultimate Distribution of Fund Assets. Upon the death of the Advisor or, if any, the last named Successor Advisor, any assets then remaining in the Fund shall be allocated as provided in Schedule B. By my signature, I/we confirm that I/we have read this Agreement and agree to its terms and conditions. By: ______________________________________ Donor By: ______________________________________ Donor By: ______________________________________ for PARSA Community Foundation ______________________________________ Title Please return to: Attn: Donor Advised Fund PARSA Community Foundation 1735 East Bayshore Road, Unit 30B Redwood City, CA 94063 Tel: 650-367-9105 Fax: 650-367-9186 www.parsacf.org Schedule A Advisors and Successor Advisors ` Schedule A (continued) Advisors and Successor Advisors  Schedule B Allocation on Death of Last Advisor After the death, resignation, refusal, removal, or inability to act of the last of the Advisors identified in Schedule A, any remaining Fund assets shall be distributed, pursuant to such spending policies as the Foundations Board may adopt from time to time, as provided below. Undistributed assets, if less than $100,000, will become part of the Foundations endowment. Undistributed assets of $100,000 or more will be held as the ____________________________________ Fund, a permanent named fund of the Foundation. Distributions from the Fund shall be: ( Unrestricted the Foundation will make grants, in its discretion, to meet future charitable needs of the Persian diaspora community. ( Restricted the Foundation will make grants for the following charitable purposes: ( Designated - the Foundation will make grants to the following charitable organizations, provided that they are then eligible for grants from the Foundation under applicable U.S. laws and under the Foundations policies as they may then apply: ________% to ________% to If these organizations are not then eligible for Foundation funding, the Foundation will select grantees whose purposes, in the Foundations sole discretion and judgment, are as close as possible to the purposes of the organizations identified in this Schedule B as most recently amended by the Donor. This Schedule B may be amended, in writing, by the Donor at any time. Schedule C Fund Establishment and Investment Pool Selection      Name of Fund Founders are asked to name the fund (e.g. Rahimi Family Fund). Please indicate a fund name. ( Establish a new fund ( Update fund information. Fund # _________ Fund Advisor #2 (This advisor does not receive fund statements but may recommend grants.) Name Mailing Address ( Home ( Business City State Zip Business Phone Fax Home Phone Fax e-mail Company Name Occupation Title Referred to PARSA By Fund Advisor #2 Relationship to Fund Advisor #1 Do you currently work with a Professional Advisor? (e.g. Attorney, CPA, Financial Advisor) (Yes (No If yes, Professional Advisors Name and Title Professional Advisors Mailing Address City State Zip Professional Advisors Phone e-mail Fund Contact Information Fund Advisor #1 (This advisor receives fund statements and may recommend grants.) Name Mailing Address ( Home ( Business City State Zip Business Phone Fax Home Phone Fax e-mail Company Name Occupation Title Referred to PARSA By Fund Advisor #1 Relationship to Fund Advisor #2 Do you currently work with a Professional Advisor? (e.g. Attorney, CPA, Financial Advisor) (Yes (No If yes, Professional Advisors Name and Title Professional Advisors Mailing Address City State Zip Professional Advisors Phone e-mail Investment Pool Information Donors gifts are invested in a Money Market Fund. The fund's objective is to provide current income, fixed principal value, and maximum liquidity. This fund will maintain a fixed net asset value of $1.00. The Investment Committee of PARSA Community Foundation offers a General Investment Fund option for gifts of $250,000 or over. The investment committee oversees and actively manages this fund pool which consists of diversified investment assets that are professionally managed by Goldman Sachs. The principal balance will fluctuate based upon the investment performance of this fund. Fee Schedule PARSA Community Foundation charges the following annual fees to sustain the cost of stewarding, overseeing, and administering your Fund: Up to $1 million 1.50% $1 million to $5 million 1.00% Over $5 million 0.75% PARSA CF does not charge any additional fees. The interest earned on DAFs is net of transaction costs and investment fees, the same as it is for PARSA CF's investments. Successor Advisor Name ( Home ( Business Mailing Address City State Zip Business Phone Fax Home Phone Fax e-mail Relationship to Founder ( I do not wish to name a successor advisor. Initial Gift to Establish a Fund Your initial gift may be paid in the form of: ( Check $_______________ made payable to PARSA Community Foundation ( Wire $_______________ (please see attached instructions in Donor Policies) ( Stock _______________ Please indicate the following: ( Publicly traded ( Privately held ( Restricted Anonymity and Publicity PARSA publishes an annual report, newsletter, and website that include information about donors, grantees, and PARSA funds. If you would like anonymity, please indicate below. 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