The (Company/Donor Name) would like to enter into an agreement with the Foundry Education Foundation Canada Fondation Éducative des Fonderies Canadiennes (FEF CANADA) in the management of the (name) Endowment.
It is our desire to start with $ _______ in a restricted principal account which can be added to from time to time. The earnings will be distributed as follows:
Other monies may be added from time to time to increase the restricted amount. The selection of a student will follow the requirements and guidelines for scholarships with FEF CANADA.
The FEF CANADA will provide a detailed report on the earnings and activity of this Restricted Fund to (company-chapter) after the completion of the FEF CANADA annual audit in July each year. It is agreed that any other special cost directly related to administering this fund, as approved by the Fund’s contact person, could be charged against earnings.
The (company-chapter) will provide FEF CANADA with a short summary of the Chapter or if honoring an individual within the Chapter, the life work of (name of person), that can be edited for the promotion of the fund.
For the Foundation: