A Washington Grant Agreement is a legal document that outlines the terms and conditions of a grant awarded from a 501(c)(3) organization to a 501(c)(4) organization in the state of Washington. This agreement is essential for ensuring transparency, accountability, and compliance with state and federal regulations. 501(c)(3) organizations are typically charitable, educational, religious, or scientific organizations that are exempt from federal income tax and eligible to receive tax-deductible charitable contributions. On the other hand, 501(c)(4) organizations are social welfare organizations that aim to promote the common good and general welfare of the community. When a 501(c)(3) organization in Washington decides to provide financial support to a 501(c)(4) organization, they establish a Grant Agreement to govern the terms of the grant. This agreement ensures that the funds granted by the 501(c)(3) organization will be used for permissible purposes and in accordance with the organization's mission. The content of a Washington Grant Agreement from 501(c)(3) to 501(c)(4) typically includes the following key elements: 1. Parties Involved: The agreement will clearly identify the 501(c)(3) organization as the granter and the 501(c)(4) organization as the grantee, along with their official names, addresses, and contact information. 2. Grant Details: The agreement will specify the amount of the grant, the purpose for which it is being provided, and any specific restrictions or conditions imposed on its use. 3. Reporting Requirements: The agreement may outline reporting obligations for the grantee, including regular financial and programmatic reports detailing how the grant funds were utilized and the outcomes achieved. 4. Compliance with Laws and Regulations: The agreement will emphasize compliance with all applicable federal, state, and local laws and regulations, including those specific to 501(c)(3) and 501(c)(4) organizations. 5. Duration of the Agreement: The agreement will establish the time period during which the grant is valid and may include provisions for renewal or termination of the agreement. 6. Termination and Remedies: The agreement will outline circumstances under which either party may terminate the agreement and the remedies or consequences that may apply in case of breach. It is important to note that variations of Washington Grant Agreements from 501(c)(3) to 501(c)(4) may exist depending on the specific purpose or nature of the grant. For example, there could be agreements for general operating support grants, program-specific grants, capacity-building grants, or project-specific grants. In conclusion, a Washington Grant Agreement from 501(c)(3) to 501(c)(4) serves as a legally binding contract that governs the terms and conditions of a grant awarded by a charitable organization to a social welfare organization in Washington. It ensures accountability, compliance, and proper utilization of funds while promoting the common good and welfare of the community.
Washington Grant Agreement from 501(c)(3) to 501(c)(4)
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How to fill out Washington Grant Agreement From 501(c)(3) To 501(c)(4)?
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FAQ
A 501(c)(3) may loan funds to a 501(c)(4). Unlike grant funds, a 501(c)(4) may use a 501(c)(3) loan for general support or fundraising and its use does not count against the 501(c)(3)'s lobbying limits.
If you want to dissolve a Washington corporation, you must undertake a two-step process. You must first file with the Department of Revenue, which will confirm that you have paid all of your business taxes. Second, you must file with the Secretary of State, which will dissolve your Washington corporation.
Under the first method, the board first must approve the resolution to dissolve and then submit it to the voting members. The members then generally meet and vote to approve the resolution. At least a two-thirds majority is required for approval. Alternatively, all members may provide their written consent to dissolve.
As required by law, a nonprofit organization that is ceasing existence is required to transfer all remaining assets to another tax-exempt organization or to the government. It is unlawful to give any property away to individuals - including board members, volunteers, staff, or beneficiaries.
501(c)(3) public charities must have at least 3 board members. Youth under the age of 18 may serve on a board.
Administrative dissolution Termination (dissolution) of a Washington corporation or other Entity by the Secretary of State because the entity failed to meet a requirement in statute, such as filing an annual report or maintaining a registered agent.
As per the internal revenue code, 501(c)3 is a nonprofit organization for religious, charitable, scientific, and educational purposes. Donations to 501(c)3 are tax-deductible. Whereas on the other hand, 501(c)4 is a social welfare group, and donations to 501(c)4 are not tax-deductible.
A 501(c)(3) organization must file for dissolution first with its state and then send the approved dissolution documentation to the IRS. It is important for an organization to check with its state Attorney General's office first to ensure that the specific procedures and documentation are submitted.