Legal DAF Agreement

LEGAL DAF AGREEMENT

This Legal DAF Agreement (the Agreement) is entered into by and between Sponsor Name: , a charitable organization duly organized under applicable law, and Donor Name: (each a Party and collectively the Parties), effective as of , .

RECITALS

WHEREAS, Sponsor maintains a donor-advised fund program through which donors may make contributions that are intended to be used for charitable purposes consistent with Sponsor's governing instruments and applicable law; and

WHEREAS, Donor desires to establish a donor-advised fund (the Fund) under the auspices of Sponsor and to make one or more contributions to the Fund subject to the terms and conditions set forth in this Agreement; and

WHEREAS, Sponsor is willing to accept contributions to the Fund and to administer distributions from the Fund in accordance with this Agreement and Sponsor's fiduciary duties and governing instruments.

NOW, THEREFORE, in consideration of the mutual covenants contained herein, the Parties agree as follows:

1. DEFINITIONS

1.1 "Fund" means the donor-advised fund established pursuant to this Agreement and identified by Fund Name: .

1.2 "Advisory Recommendation" means a written or electronic recommendation submitted by Donor or an authorized advisor regarding distributions or investments of assets held in the Fund.

2. ESTABLISHMENT OF FUND

2.1 Donor hereby transfers to Sponsor and Sponsor accepts the initial contribution described in Section 3, to be held, invested and administered by Sponsor as the Fund in accordance with Sponsor's governing documents, applicable law, and the terms of this Agreement. All contributions accepted by Sponsor shall be irrevocable when accepted and shall become the property of Sponsor.

3. CONTRIBUTIONS

3.1 Initial Contribution: Donor will contribute to the Fund the amount or property described below upon execution of this Agreement:

3.2 Additional Contributions: Donor may from time to time make additional contributions to the Fund subject to Sponsor's acceptance. All contributions shall be subject to Sponsor's right to refuse any gift that imposes undue administrative burdens, restrictions inconsistent with Sponsor's exempt status or other unacceptable conditions.

4. ADVISORY RECOMMENDATIONS AND DISTRIBUTIONS

4.1 Nonbinding Nature of Recommendations. Donor or Donor's authorized advisor may submit Advisory Recommendations to Sponsor in writing. Such Advisory Recommendations are advisory only; Sponsor retains exclusive legal control over the Fund and has final authority and discretion to accept or reject any recommendation, consistent with Sponsor's fiduciary duties and governing instruments.

4.2 Permitted Distributions. Distributions from the Fund shall be made only to organizations that qualify as charitable organizations under applicable law and only for purposes consistent with Sponsor's exempt purposes. Each distribution shall be subject to Sponsor's written policies and any restrictions set forth in this Agreement.

5. INVESTMENT OF ASSETS

5.1 Investment Authority. Sponsor shall invest and reinvest the assets of the Fund in accordance with Sponsor's investment policies. Donor may provide nonbinding written investment guidelines which Sponsor may consider but is not required to follow.

6. FEES AND EXPENSES

6.1 Administrative Fees. Sponsor may assess administrative fees, investment management fees and other charges against the Fund in accordance with Sponsor's fee schedule. Such fees may be deducted from the Fund without prior notice to Donor.

7. DONOR REPRESENTATIONS AND WARRANTIES

Donor represents and warrants to Sponsor that: (a) Donor has full power and authority to make the contributions described herein; (b) any contributed property is free from liens and encumbrances unless disclosed to Sponsor in writing; (c) Donor is the beneficial owner of the contributed property and has the right to irrevocably transfer such property to Sponsor; and (d) any information provided to Sponsor is true, complete and not misleading.

8. RESTRICTIONS AND PROHIBITED USES

8.1 Donor understands and agrees that: (a) contributions to the Fund are irrevocable and shall be used only for charitable purposes; (b) Sponsor will not comply with Advisory Recommendations that would result in private benefit to Donor or an impermissible noncharitable benefit; and (c) Sponsor will not make distributions to named individuals or for purposes that would jeopardize Sponsor's tax-exempt status.

9. TAX MATTERS

9.1 Tax Reliance and Reporting. Donor acknowledges that Sponsor makes no representation regarding the tax consequences of any contribution to the Fund and that Donor is solely responsible for obtaining any tax advice. Sponsor will provide customary tax acknowledgements for contributions as required by law and Sponsor's policies.

10. CONFIDENTIALITY

10.1 Except as required by law or Sponsor's policies, Sponsor shall maintain as confidential the identity of donors and the details of Advisory Recommendations, provided such confidentiality is consistent with Sponsor's obligations and legal compliance.

11. AMENDMENT; TERMINATION; SURVIVAL

11.1 Sponsor may amend this Agreement as necessary to conform to changes in law or Sponsor's practices, provided that any amendment shall not impair the charitable purposes of the Fund. Sponsor may terminate the Fund if its assets are insufficient to justify continuation, in which case Sponsor will distribute remaining assets in a manner consistent with the donor's recommendations and Sponsor's charitable purposes.

11.2 The provisions of this Agreement that by their nature should survive termination shall survive the termination of the Fund, including but not limited to provisions regarding confidentiality, representations, indemnification and tax matters.

12. NOTICES

12.1 All notices required or permitted under this Agreement shall be in writing and sent to the addresses set forth below or to such other address as either Party may designate by notice to the other.

13. MISCELLANEOUS

13.1 Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the state specified below without regard to its conflict of law principles.

13.2 Entire Agreement. This Agreement, together with any written policies of Sponsor expressly incorporated herein, constitutes the entire agreement between the Parties with respect to the Fund and supersedes all prior discussions, understandings and agreements.

13.3 Severability. If any provision of this Agreement is held invalid or unenforceable, the remaining provisions shall remain in full force and effect to the extent consistent with Sponsor's charitable purposes.

13.4 Waiver; Amendments. No waiver of any provision shall be effective unless in writing and signed by the waiving Party. This Agreement may be amended only by a written instrument signed by both Parties, except that Sponsor may make non-material administrative amendments unilaterally to conform to law.

13.5 Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument.

14. ACKNOWLEDGEMENTS

Donor acknowledges receipt of Sponsor's policies governing donor-advised funds, understands the nonbinding nature of Advisory Recommendations, and consents to the terms of this Agreement.

Individual    Trust    Corporation    Other

AUTHORIZATIONS

By signing below, the undersigned represent and warrant that they are authorized to execute this Agreement on behalf of the Party for whom they sign and that the representations in this Agreement are true and complete.

Sign Now