Designated Gift Donation Fund
Established
05/11/2023
05/11/2023
Purpose
Resolution Establishing a Designated Donation Fund Account for the Community Foundation of Marquette County WHEREAS from time to time the Community Foundation of Marquette County ("the Foundation") may receive designated donations of cash, land, appreciated stock, and other illiquid assets; and WHEREAS, consistent with good accounting practice, the Board wishes to establish an account in which to place such donations pending their liquidation, if necessary and transfer to the Foundation account(s) or distribution to designee, consistent with and appropriate for the charitable purpose(s) specified in the donor's gift; NOW THEREFORE, BE IT RESOLVED, that there shall be established an account, to be known as the "Designated Donations Fund Account," in which such donations shall be held for accounting purposes until they have been liquidated to enable them to be transferred to the designee consistent with and appropriate for charitable purpose(s) specified in the gift.
Resolution Establishing a Designated Donation Fund Account for the Community Foundation of Marquette County WHEREAS from time to time the Community Foundation of Marquette County ("the Foundation") may receive designated donations of cash, land, appreciated stock, and other illiquid assets; and WHEREAS, consistent with good accounting practice, the Board wishes to establish an account in which to place such donations pending their liquidation, if necessary and transfer to the Foundation account(s) or distribution to designee, consistent with and appropriate for the charitable purpose(s) specified in the donor's gift; NOW THEREFORE, BE IT RESOLVED, that there shall be established an account, to be known as the "Designated Donations Fund Account," in which such donations shall be held for accounting purposes until they have been liquidated to enable them to be transferred to the designee consistent with and appropriate for charitable purpose(s) specified in the gift.