[Home]SampleFundingLetterAgreement

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[date]

OSI(US) Institute

Dear members of OSI(US) Board,

Please find attached the proposed letter of agreement for the partnership between OSI (US) and [name of individual or organization].

[Please explain the background and history of this project or program, including past experiences, outcomes, accomplishments, similar activities undertaken by the individuals proposing, and including, as appropriate, team members’ experience facilitating Open Space]

I am pleased to be working with you on this project and I thank you for the partnership.

Sincerely,

[project coordinator’s name and contact information]


[Title of this project]

an initiative coordinated by [name of coordinator]

Purpose: Our intent is to [please continue, describing the project or program and what is requested of/from OSI(US)]

Finances:

Fundraising – [Please describe other fundraising efforts, outreach plans, strategies and accomplishments towards this project or program. Please describe how or if you wish for OSI(US) to play a role in your financial efforts. Note: if this program or project is requesting that OSI(US) is to be a fiscal agent and therefore that contributions to the program or project are to be made through OSI(US), please clarify who on your team will take full responsibility for raising funds in this manner and how they will do it (for example, sending ongoing message to whom). If this includes contributors paying through the OSI(US) website, clarify that OSI(US) is truly able to do this for your project or program and who will work with you from the OSI(US) Board regarding reports and processing and sharing of information regarding donations through this site (who will inform whom that an online donation has been made, who will make the credit card authorization calls, how and when the contact person on this project or program will request payments out of that fund and to whom.]

[If this fiscal sponsorship with OSI(US) is probable, the following text should be included in this letter of agreement:] OSI(US) can receive donations to their site via credit card payments or bank drafts in US currency. People wishing to contribute should make checks payable to: Open Space Institute (US), and mail them to: 15347 SE 49th Place, Bellevue, WA 98006. "_______" [Please set a name for this fund] should be written in the memo space.

Revenue Sharing – 10% of all funds designated for the ______ [please fill in] Fund program go to OSI(US) for administrative and support costs. [Please explain where any money raised above the budget, after all reimbursements and payments are made for that program or project, will go. If this is an ongoing project or program, indicate whether this amount raised exceeding expenses carries over into the next fiscal year. ]

Budget – [Please give a detailed, itemized explanation of your total program or project budget].

Reimbursement and Audit – OSI(US) will pay [Please name the program or project coordinator to receive these funds and note if it is at a specific date or upon request.]

Reporting:

Reporting – [Please indicate who will process all thank-you’s and receipts for contributors]. Processing of receipts will be in full compliance with all legal requirements applicable in the countries where the donors reside. [Please add name of project or program coordinator] will announce [please fill in how often / when] the success of the Fund/ program and a thank you to [please fill in to whom and via what method]. An report (finances and highlights) will be distributed [please fill in how soon / how often] to OSI(US) board.

Relationship with OSI(US): OSI(US) is the fiscal agent for this program. [Please fill in coordinator’s name] is the contact person and liaison to the OSI(US) Board regarding this program. If s/he eventually or temporarily chooses someone else to become the coordinator, s/he will propose this person to the OSI(US) Board in writing.

Decision-making: Day-to-day decisions, and all decisions about receipt of donations, relationships with contributors or vendors, representation of this project/program/fund to others, and the nature of disbursements will be made by [please fill in name of project or program coordinator], and communicated promptly to OSI(US).

Accountability: Note: this is what we said for Access Queen fund. What do we say for general projects/programs/other fund? Recipients of [please insert name of project/program] funds will sign a receipt verifying the amount they received along with the date. [please insert name of project/program coordinator] will save receipts for any expenses, which s/he pays directly, for a recipient of _____ funds. Information about money disbursed—number of people receiving funds and amount each received, directly or indirectly--will be reported in this project/program/fund’s report(s) to the OSI(US) Board. [please insert name of project/program coordinator]will submit fundraising letters to OSI board, prior to general distribution. Financial transactions associated with this project/program/fund will, along with all other transactions of OSI(US), be subject to periodical audits by independent sources.

Ownership and Review: Either [please insert name of project/program coordinator] (or her representative) or OSI(US) can decide at any time that the [please insert name of project/program] will no longer be an OSI(US) program or is to be cancelled? by stating these intentions in writing and proposing a plan for responsible transition. [please insert name of project/program coordinator] (or her/his representative) as the program’s coordinator will have the option of taking with her/him the program’s name, as well as any money (minus the percentage that goes to OSI(US)) in the program’s account at time the program becomes independent. If [please insert name of project/program coordinator] does this, OSI(US) may continue similar activities under a different name. If [please insert name of project/program coordinator] decides not to continue the program independently, OSI(US) can continue the same program with the same name if [please insert name of project/program coordinator] agrees. [In the case of an ongoing relationship/project/program/fund] The OSI(US) Board will formerly review the relationship between [please insert name of project/program] and OSI(US) ____ [please insert time span] after the decision takes effect.

This agreement is for an ongoing program – after its acceptance it may be reviewed and edited as necessary before each new fiscal year. (or) This agreement is for __________ [please insert timeframe or note if this is for a single date]; after its acceptance it may be reviewed and edited as is necessary and agreed upon by both parties.


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