Corporate Resolution - Sample Only

CORPORATE RESOLUTION - SAMPLE ONLY

ABC Community Foundation, Inc.

Exercise of Variance Power for the XYZ Fund

Board Date

Motion: The CF Board of Directors exercises its variance power with respect to the ABC County YMCA – XYZ Fundand directs fund distributions to ABC County YMCA for the purpose of maintenance and repairs for the pool located in the ABC County YMCA.

Rationale:

The community pool was built in 1970 for the YMCA and opened to the public in 1971. Donor, a prominent businessman, paid for the construction of the pool. Mr. Doe also established a trust to benefit the pool.

The ABC County YMCA – XYZ Fund (Fund) was established in 1996 by the ABC YMCA to support any operations or capital improvements to the communitypool.

In 1999, the city of Hope agreed to take over the community pool, due to lack of funds left in the trust to operate the pool. The city hired the YMCA to run the pool.

In 2000, the purpose of the Fund was changed as follows:

The Fund has been established and will be administered for the sole use and benefit of the ABC YMCA/community pool. The Fund shall be used for the purpose of promoting improvement of the ABC YMCA/community pool or its successors. The Fund shall be used for the purpose of raising and expending funds for the benefit of the ABC YMCA/Community pool and any organization operated, supervised, managed, or controlled in connection with it.

In 2009, the Community pooled was closed due to city budget cuts. No distributions were made to the ABC YMCA due to the closing of the pool. The pool has been filled in and is now being used as a park for the city of Hope.

Jim Doe, Executive Director of the ABC YMCA, met with ABC CF Executive Director to discuss changing the purpose of the Fund since the Communitypool is now closed. He suggested the purpose be changed to support the pool at the ABC YMCA facility.

Recommendation:

Staff recommends approval of the above motion based upon conversations with the donor and the beneficiary.

Approved this day ____ of ______, 20__

______

Name, CF Secretary