Please review the following Terms and Conditions, then select "Accept" below to indicate that you are an authorized representative of the Recipient organization and that you accept the Terms & Conditions of the requested funding.
Martha's Vineyard Bank Charitable Foundation Terms and Conditions
This funding from the Martha's Vineyard Bank Charitable Foundation is for the explicit purpose(s) described in the Sponsorship Application and is subject to the Recipient's acceptance of the Terms and Conditions specified in this document.
Expenditure of Sponsorship Funds
This funding may be expended only in accordance with the Application as approved by the Martha's Vineyard Bank Charitable Foundation. Any material changes affecting the purpose for which the funding was awarded must receive prior written authorization from the Foundation. No portion of these funds may be used for purposes not clearly identified as charitable under the law.
Equipment and/or other supplies purchased with this funding shall be the property of the Recipient as long as they are not diverted from the purpose(s) for which the funding was granted. The Recipient is responsible for the expenditure of the funds and for maintaining adequate financial records consistent with generally accepted accounting practices. Recipients may be asked to report on the use of funds awarded.
Reversion of Awarded Funds
At the end of the program or project supported by this request, the Recipient agrees to return any unexpended funds to the Martha's Vineyard Bank Charitable Foundation. The Foundation reserves the right to terminate this funding at any time if, in its sole discretion, it determines that the Recipient has made any misrepresentations, misappropriated funds, or acted in a manner inconsistent with the purposes of the award, including any specified conditions. In this event , all unexpended funds shall be returned to the Foundation. In addition, funds shall be returned to the Foundation if the Recipient loses its tax-exempt status under Section 501(c)(3) of the Internal Revenue Code or experiences bankruptcy or insolvency. The Recipient's fiscal agent also shall be bound by these terms for the reversion of funds.
The Recipient agrees that it will not unlawfully discriminate in employment practices, volunteer opportunities, or the delivery of programs or services, on the basis of race, religion, gender, national origin, age, medical condition, disability, veteran status, marital status or sexual orientation.
The Recipient also agrees to credit the Martha's Vineyard Bank Charitable Foundation in all publicity relating to this award. This may include press releases, presentations, marketing, media coverage and the Recipient's publications and website. The Recipient agrees to notify the Martha's Vineyard Bank Charitable Foundation of any upcoming publicity or media coverage relating to the award.
The Recipient also agrees to cooperate with the Martha's Vineyard Bank Charitable Foundation in its efforts to highlight this funding in its publications as well as on their websites. This may include arranging interviews and photo sessions with the Recipient's staff, Board and clients, providing the Foundation with photographs, slides and graphics along with any required signed releases and providing access to background material relevant to the funding.
Limit of Commitment
The Recipient acknowledges that the Martha's Vineyard Bank Charitable Foundation is under no obligation to provide additional support for this request nor the Recipient organization. Further, it is understood that there is no commitment to, or expectation of, future funding from the Martha's Vineyard Bank Charitable Foundation.