Agreement Kiwanis International Foundation and Kiwanis International European Federation

This agreement will be effective on the date signed by all parties

This agreement is between the Kiwanis International Foundation (KIF) and the Kiwanis International European Federation (KIEF).

The parties agree it is to the best interest of Kiwanis International to provide a working agreement for contributions received in Europe for the Kiwanis International Foundation – Europe.

The parties agree as follows:

1. Contributions made in Europe to Kiwanis International Foundation – may be received by Kiwanis International Foundation – Europe on behalf of KIF.
   
2. Kiwanis International Foundation – Europe on behalf of Kiwanis International European
   Federation will maintain a bank account into which funds will be deposited which will be separate and apart from the Federation own account.
   
3. Kiwanis International Foundation funds received in Europe by Kiwanis International Foundation.
   Europe, shall be held in the separate account until the Kiwanis International Foundation directs its use unless the donor has directed the use at the time of donation.
   
4. The expenditure of KIF funds received by Kiwanis International Foundation – Europe, not otherwise specified for use by the donor, shall be directed by Kiwanis International Foundation to grants recommended by Kiwanis International European Federation benefiting Europe or to causes outside Europe when approved by the Board of Kiwanis International European Federation.
   
5. The signing officer of this account shall be the Kiwanis International European Federation
   President and the General Director of the European Service Center.
   
6. Kiwanis International Foundation – Europe will account for all fund’s received on behalf of Kiwanis International Foundation and will forward at least monthly to KIF a list of donors and a copy of the bank account statement of the funds being held in the special account for Kiwanis International Foundation – Europe.
   
7. Qualifying for tax exemptions for contributions will be the responsibility of each district of Europe for the country.
   
8. These funds to the Kiwanis International Foundation being held in Kiwanis International Foundation – Europe account will include but are not limited to: Hixsons, Tablet of Honor, Kiwanis Fellow, Scolarships, Memorials, Tributes and projects approved by Kiwanis International, Kiwanis International Foundation and Kiwanis International European Federation.