AG 1992 12 07 - Laserfiche WebLink

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THE CANNON FOUNDATION, INC. POST OFFICE; BOX CONCORD, NORTH CAROLINA 2802~-O~48 December 1, 1992 Ms. Carolyn B. Carpenter, Board Chairman Cabarrus County Post Office Box 707 Concord, North Carolina 28026-0707 Dear Ms. Carpenter: The Cannon Foundation, Inc. is pleased to inform you that its Board of Directors has approved a grant in the amount of $10,000 in response to your recent proposal, for the purpose stated below: "Sharing The Vision" Program (Strategic Planning) In keeping with our past procedures, and in order to comply with regulations applicable to foundations such as ours, all grants will be made only to organizations which are exempt from taxes under Internal Revenue Code Section 501(c) (3) and which have been determined by the Internal Revenue Service to be "not private foundations" within the meaning of Code Section 509(a). In order that the Foundation may comply with all Internal Revenue Code Regulations and other requirements, we ask that you indicate your agreement to follow the terms stated below by signing the copy of this letter in the space provided and returning it to our office: t. Applicant agrees to expend the funds from this grant only for the purposes stated above and in accordance with Section 501 (c) (3), Section 4945 and other applicable provisions of the Internal Revenue Code. 2. Directors of The Cannon Foundation, Inc. may monitor and conduct an evaluation of operations under this grant, including full and complete access to your files and financial records relating to the grant or your tax status, upon a reasonably timely request therefor. 3. We require notification of any change in your Federal tax -- status before or during the period the grant funds are being spent.