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THE CANNON FOUNDATION, INC. <br /> <br />CONCORD. NORTH CAROLINA 28026.01~48 <br /> <br />Ivlarch 7, 1995 <br /> <br />Mr. Jeffrey L. Barnhardt, Chairman <br />Board of County Commissioners <br />Cabarrus County <br />Post Office Box 707 <br />Concord, North Carolina 28026-0707 <br /> <br />Dear Jeff: <br /> <br />The Cannon Foundation, Inc. is pleased to inform you that its Board of Directors has approved <br />a grant in the amount of $50,000.00 in response to your recent proposal, for the purpose stated <br />below: <br /> <br />For Department of Social Services - Automated Single Application Program <br /> <br />In keeping with our past procedures, and in order to comply with regulations applicable to <br />foundations such as ours, all grants will be made only to organizations which are exempt from <br />taxes under Internal Revenue Code Section 501(c)(3) and which have been determined by the <br />Internal Revenue Service to be "not private foundations" within the meaning of Code Section <br />509(a). <br /> <br />In order that the Foundation may comply with all Internal Revenue Code Regulations and other <br />requirements, we ask that you indicate your agreement to follow the terms stated below by <br />signing the copy of this letter in the space provided and returning it to our office: <br /> <br />o <br /> <br />Applicant agrees to expend the funds from this grant only for the purposes stated above <br />and in accordance with Section 501(c)(3), Section 4945 and other applicable provisions <br />of the Internal Revenue Code. <br /> <br />Directors of The Cannon Foundation, Inc. may monitor and conduct an evaluation of <br />operations under this grant, including full and complete access to your files and financial <br />records relating to the grant or your tax status, upon a reasonably timely request therefor. <br /> <br />We require notification of any change in your Federal tax status before or during the <br />period the grant funds are being spent. <br /> <br /> <br />