In response to the horrific events that occurred on September 11, 2001, and the acknowledgement of potential needs of the surviving members of families of those who lost their lives in the September 11, 2001 terrorist’s attacks, the Kiwanis Foundation of New England, Inc., a Massachusetts charitable corporation, duly organized and existing, with its usual place of business in the city of Framingham, Middlesex County, Massachusetts, hereinafter called the FOUNDATION, has established this memorial fund.
WHEREAS, many individuals, businesses, Kiwanians and Kiwanis Clubs, hereinafter known as DONORS have supported this concept through donations made to the foundation, in honor of this tragic time, and
WHEREAS, the FOUNDATION is engaged in providing charitable awards for education, as well as being a vehicle to help those in need,
NOW THEREFORE, in consideration of the gifts stated above and the covenants of the FOUNDATION hereinafter stated as follows:
1. Establishment of the September 11th Memorial Fund:
The FOUNDATION agrees to accept the gifts of the DONORS made upon execution of this agreement. And gifts made in the future by the DONORS, or other parties, expressly noted as dedicated to the “911 Memorial Fund”, and to hold the said fund in a segregated account, to invest the same exercising powers bestowed upon it under law, its Articles of Organization, and its By-laws, and to expend the funds for the purposes hereinafter set forth.
2. Empowerment of New England Foundation Members and New England Kiwanis Clubs:
This document empowers Kiwanis Clubs of New England and also all members of the New England Kiwanis Foundation to actively solicit monies for this fund and to accept funds which will then be turned over to the FOUNDATION. This document also allows by a majority vote of the New England Kiwanis Foundation Board for the Board to operate fundraisers designated specifically for this fund.
3. 911 Memorial Awards:
The FOUNDATION shall use this special memorial fund to provide awards/financial assistance for the educational purposes of the survivors of victims from New England, of the tragedies that occurred on September 11, 2001.
4. 911 Memorial Award Applications:
The applicant shall submit the application for these awards before January 1st of each year for potential approval for the fall semester. The application will provide the FOUNDATION with all pertinent information needed, and the use of funds.
The Foundation Scholarship Committee, in accordance with the agreement, shall review applications and forward recommendations, to the Board of Directors regarding presentation of the awards. Local New England Kiwanis Clubs are encouraged to present the existence of this fund to their respective communities, and forward any applications received to the Foundation.
5. 911 Education Awards:
Upon receipt of favorable recommendation, or recommendations, and approval, the FOUNDATION shall notify the applicant(s) of the award, and provide the funding. This funding will be paid directly to the RECIPIENT and/or the recipient’s PARENT or GUARDIAN upon the receipt of the tuition invoice from the educational institution by the FOUNDATION. The grant of any award shall be the sole discretion of the FOUNDATION.
6. Eligibility:
Any spouse, child, or grandchild of a victim of the September 11th terrorist actions shall be eligible for an award under this agreement with preference to victims who are also members, children or grandchildren or spouses of a Kiwanis Family member.
7. Foundation Accounts:
The FOUNDATION shall annually render an account of their administration of the Trust and shall maintain a copy of said account on record in the Foundation Office.
8. Dissolution of Fund:
a) In the event that the FOUNDATION shall cease to exist, any funds or other assets including principal and/or interest in the 911 Memorial Fund shall forthwith be paid over to a 501c3 charitable or other charitable entity which in the opinion of the FOUNDATION is providing aid to qualified persons in the manner most nearly meeting the intention of the donors. In no circumstances shall any part or all of the principal and/or income of the 911 Memorial Fund revert to any of the donors to the said fund, his or her heirs, personal representatives, successors, or assigns.
b) In the event the fund becomes depleted to a zero $(0) dollar balance, the Executive Committee of the Foundation may vote to eliminate the account heading from it’s reports.
c) This fund will end on or before January 1, 2026. Any remaining funds shall be dispersed as outlined above in paragraph 8a.
Kiwanis Foundation of New England, Inc.
____________________________
Attest: R. Alan Hartnett, President
____________________________
Attest: Janice E. Brown, Secretary
This document Voted and Approved by the Board of Directors of the FOUNDATION on this the 12th day of January 2002.
Awards Application
This application shall be developed upon approval of the above document. The Foundation Scholarship Committee will draw up an application, which will be subject to Board approval.