Memorandum of Understanding

The Project Give Foundation (the “Foundation”) is pleased to inform [name of grantee] ) (“Grantee”) that its Board of Directors has approved a grant of the amount listed below as [amount] ("amount") to Grantee to support its participation in Project Give (as explained in the attached Exhibit A). The Foundation has been advised by counsel to enter into this Memorandum of Understanding with Grantee to help ensure compliance with the Internal Revenue Code and to set forth the primary terms of this grant.

(1) Grantee agrees to use all of the grant funds exclusively for the support of Grantee’s participation in Project Give. Grantee may not use any portion of the grant funds, including any interest thereon, for any other purpose without the prior written approval of the Foundation. Funds not used by the end of the term are to be returned to The Project Give Foundation. 

(2) Participating classroom teachers must furnish to the Regional Coordinator of The Project Give Foundation email updates at least once every two weeks regarding commentary of the students’ experience. 

(3) After Groups are formed, email updates to the Regional Coordinator of The Project Give Foundation at least once a week regarding the progress of their projects. 

(4) Grantee agrees to that repeated failure to provide the Regional Coordinator with the updates required in terms (2) and (3) will cause the Grantee to forfeit the original amount of the grant. 

(5) Grantee agrees that the grant funds will be used in accordance with guidelines outlined in Exhibit A, in the Project Give Teacher Manual and this Memorandum of Understanding. Grantee agrees to furnish periodic reports to the President of the Foundation as to the expenditure of the grant funds and to submit a final report upon completion of the grant. 

(6) Grantee agrees to keep its financial statements in relation to the grant in such a manner that adequately accounts for the use of the grant funds exclusively for the grant’s purpose. 

(7) Grantee agrees to supply the Foundation with such other information as the Foundation requests to establish the charitable use of the grant. I hereby acknowledge and have read this agreement: