West Indianapolis Community Fund
Indianapolis, IN 46221
Initial Memorandum of UnderstandingThis Memorandum of Understanding (“MOU”) reflects the desire of the West Indianapolis GINI Partners, now known as sponsoring agencies (“Agencies”) to recognize both the common desire to further the implementation of the West Indianapolis Quality of Life Plan (“Plan”) and to develop additional funding resources to make this implementation possible. The Agencies recognize the need for a community-wide mechanism to both develop resources and distribute them to organizations implementing elements of the Plan. To this end, the agencies agree to the establishment of the West Indianapolis Community Fund (“Fund”).
The Agencies recognize that the Plan:
· Establishes the priorities for community –driven improvement in the West Indianapolis community:
· Establishes the primary service area boundaries -White River on the east, Raymond Street on the south, Holt Road on the west and the Conrail railroad tracks on the north.
· Includes both existing and potential new areas of action to improve the lives of West Indianapolis residents and their environment
The Agencies recognize that the Fund:
· Is being created as an advised pass through fund at Central Indiana Community Foundation (the “Foundation”) pursuant to a Fund Agreement to be entered into between the Agencies and the Foundation
· Will be governed by an Advisory Committee (“AC”) pursuant to this MOU and the provision of the Fund Agreement with the Foundation
· Is being created to encourage increased community participation and the amount of resources available to implement the plan
· Will support projects that implement the Plan as determined by the AC
· Will be available to only non-profit, tax-exempt organizations allowable pursuant to the Fund agreement which operate programs in West Indianapolis that address Quality of Life elements
· Will receive 3rd party administrative support from the Foundation, including fund balance accounting and reporting donor lists, and acknowledgement letters to contributors
· Will strive to become a common resource to be utilized by the AC for the benefit of the West Indianapolis Neighborhood without restricting any existing or future fundraising efforts by the Agencies or organizations receiving resources through AC advised grants from the Fund
· Will accept donations from businesses, individuals, organizations and foundations, subject to the provisions of the Fund Agreement with the Foundation
· Will accept both designated and unrestricted funds from donors, subject to the provisions of the Fund Agreement with the Foundation
The Agencies acknowledge the need for a two-tier level of support and therefore defines them as:
· Advisory Committee Member: Agency publicly supports the purpose and goals of the Fund and actively participates in its governance and fundraising. Participating agencies at this level will appoint one (1) voting representative. This representative will serve at the will of the organization.
· Supporting Member: Agency publicly supports the purpose and goals of the Fund but has elected to not actively participate in the governance or fundraising. Supporting agencies may request a status change by appointing a representative to the AC and by participating in funding solicitation and governance.
Fund Governance: The Fund will be governed by the West Indianapolis Community Fund Advisory Committee (“AC”) The AC will be responsible for:
· Shaping the role, the authority and future membership of the AC within the framework of this MOU
· Developing a process for making decisions and adopting rules of procedure for the AC
· Execution of agreements relating to staffing, consulting, accounting and administration
· Development and execution of an annual fundraising plan
· Development of a funding budget
· Solicitation of Funds
· Distribution of Funds
· Evaluation and reporting
The AC may seek additional volunteer participation and input as needed
Time Period: This agreement is for a two (2) year period starting February 2, 2009 through February 1, 2011. This agreement is renewable annually upon the agreement after the initial period.
Each Agency realizes that this venture is still in the development stages and therefore agrees to communicate with each other as they see ways to improve and strengthen this partnership.
The following Sponsoring Agencies agree to the formation of the Fund and affirm their level of participation in said Fund.
Dated this ______day of February, 2009
Advisory Committee Member / Supporting Committee MemberPage 2 of 3