ESTABLISHMENT OF AN ENDOWMWNT FUND FOR GRANT OF SCHOLARSHIP

 

                                                                                                         Date ________________

The_____________________________,

________________________________

_________________________________

(ADDRESS)

 

To establish the____________________ Fund (hereinafter called the “Fund”), (we) (I) hereby transfer, convey and pay over to __________________________________________ (the “Research Foundation”), as a charitable contribution, the following:

________________________________________________________________________ The Research Foundation is authorized to accept additional contributions to the Fund in terms substantially similar to those set forth herein. (We) (I) desire that the (annual net income only) (income and principal) from the Fund benefit students of the (designation of recipient) _______________________

1.      Purpose:  

The purpose of the Fund shall be to provide scholarships to (state purpose): _______________________________________________________________________________________________________________________________________________

2.      Student Eligibility:  

The students eligible for assistance (state conditions of eligibility):

____________________________________________________________________________________________________________________________________________

3.      Type and Amount of Aid:

The type and amount of aid shall be at the discretion of the Board of Directors of the Research Foundation and may include, but is not necessarily limited to (list type and amount requirements):

________________________________________________________________________________________________________________________________________________we hereby acknowledge receipt of the Administrative Fee Schedule attached hereto as Exhibit _______ and accept the terms of said schedule. We further understand the fee schedule is subject to modification and may be increased or decreased at the sole discretion of the Research Foundation’s Board of Directors. We agree to be bound by the most current schedule of fees published by the Research Foundation. (We) (I) (are) (am) familiar with and accept the terms of the Procedures for the Establishment and Operation of Funds of the By-laws of the Research Foundation. (We) (I) also understand that the Research Foundation, through its duly authorized committees, reserves the right to make the final decision regarding distributions from the Fund as outlined above and as set forth in the Bylaws.

Yours very truly,

Accepted this ______________ day of ______________ 20__.

_____________________________________________________________________________President & CEO