This Beneficiary Agreement (this “Agreement”) is made by and between Council for Life (”CFL”) and the undersigned agency (the “Agency”) in connection with the Agency’s Beneficiary Application for funding from CFL (the “Application”). The Agency acknowledges that any grant received from CFL is contingent upon the Agency abiding by the terms of this Agreement. If the Agency is selected as a Beneficiary of CFL, and in consideration of the grant awarded by CFL, as well as the promises and agreements made herein, the Agency agrees as follows:
1. The Agency will not, without prior written approval from CFL’s Board of Directors (the “CFL Board”), (i) directly solicit donors or members of CFL for fundraising purposes or (ii) use CFL’s name or logo in any type of marketing, communication or other purpose.
2. All grants will be handled by the Agency’s in-house bookkeeping as a ‘line-item restricted gift” and may only be used for the CFL-approved project described above and in the Application
(the “Project”).
3. CFL plans to fund current beneficiaries their grant monies prior to December 31 of the year in which the grant is awarded. The date on which the grant is awarded to the agency is the “Grant Date”. All grant money must be spent for the Project by December 31 of the calendar year following the Grant Date. (the “Grant Completion Date”).
4. If grant monies have not been spent by the Grant Completion Date, the Agency must petition the CFL Board for an extension no later than 30 days after the Grant Completion Date. All requests for any such extension must be specific and submitted in writing. The Agency must specify why the Project has not yet been completed and include the revised timeline in such extension request. If (i) such extension is not requested or granted by the CFL Board, (ii) the Project has been terminated unexpectedly, or (iii) actual funds needed for the Project are less than the budgeted amount, then such excess funds shall be returned to CFL no later than March 1st after the Grant Completion Date unless otherwise designated by the CFL Board.
5. CFL has the right to terminate this Agreement and withhold grant funds at any time that it determines that any of the following events has occurred:
a. grant funds have not been or will not be expended reasonably or prudently for the purposes specified in the Application;
b. the Agency has violated any federal, state or local law or regulation;
c. the Agency has failed to fully comply with this Agreement, including an unapproved deviation from the Project, if such breach has not been cured within 30 days of CFL providing written notice of such breach;
d. the Agency no longer meets the Beneficiary Applicant Funding Requirements (as set forth in the Application) or has experienced a material change (described below) that causes CFL to believe that such Funding Requirements will not be met during the period beginning on the Grant Date; or
e. CFL has insufficient funds available for distribution
6. The Agency is required to submit two CFL Beneficiary Follow-Up Reports on the following dates. (NOTE: A reminder and link to complete the electronic reports will be provided by CFL via email.):
a. First – upon the execution and success of the Project, no later than August 1 of the year following the Grant Date (Interim Report for the 6 month period ending June 30);
b. Second – no later than February 1 of the year following the Grant Completion Date (Final Report for the 12 month period ending December 31).
These reports shall include the official accounting reports, submitted by the Agency accountant, reflecting the actual disbursement of funds to date (including detail of expenses) and a project income statement, if applicable.
7. Agencies that fail to abide by these grant requirements may lose funding and may not be considered for future grants.
8. If any significant changes to the Project occur during its implementation, the Agency agrees to notify CFL in writing immediately.
9. The Agency agrees to notify CFL in writing no later than 30 days after any material change in the information presented in the Application. For the purposes hereof, a material change includes, but is not limited to, a negative change in the financial condition of the Agency or a change in leadership (Executive Director, a majority of the Board of Directors or more than 40% change in staff), relocation of offices, change of Agency name and similar changes.
10. The Agency may not assign this Agreement or any grant monies without the prior written consent of CFL, which may be withheld in its sole discretion.
11. Any agreement to fund by CFL is contingent upon funds raised. The Agency acknowledges that CFL will have no liability for any grants agreed to by CFL but not paid due to lack of funding.