[Home]History of AccessQueenOSILetterofAgreement

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Revision 6 . . June 3, 2004 6:27 am USA Pacific Time by pool-141-156-36-140.res.east.verizon.net
Revision 5 . . June 2, 2004 5:01 am USA Pacific Time by pool-141-156-36-140.res.east.verizon.net
  

Difference (from prior major revision) (no other diffs)

Changed: 64c64
*Reporting – Lisa Heft will process all thank-you’s and receipts for Givers. She will include the OSI(US)’s tax ID number (________________) on these receipts to aid any Giver whose tax laws in their country allows for deductions for donations. She will announce after each OSonOS the success of the Fund and a thank you to all in the OSLIST community in a message to the OSLIST. An annual report (finances and highlights) will be distributed within two months after each year’s OSonOS to OSI(US) board. At the time of this writing Lisa Heft is also a Board member of OSI(US) and makes full effort to attend monthly meetings of the Board.
*Reporting – Lisa Heft will process all thank-you’s and receipts for Givers. She will include the OSI(US)’s tax ID number (________________) on these receipts to aid any Giver whose tax laws in their country allows for deductions for donations. Processing of receipts will be in full compliance with all legal requirements applicable in the countries where the donors reside. She will announce after each OSonOS the success of the Fund and a thank you to all in the OSLIST community in a message to the OSLIST. An annual report (finances and highlights) will be distributed within two months after each year’s OSonOS to OSI(US) board. At the time of this writing Lisa Heft is also a Board member of OSI(US) and makes full effort to attend monthly meetings of the Board.

Changed: 68c68
Decision-making: Day-to-day decisions, and all decisions about receipt of donations, relationships with Askers and Givers, representation of the Fund to others, and the nature of disbursements will be made by Lisa Heft.
Decision-making: Day-to-day decisions, and all decisions about receipt of donations, relationships with Askers and Givers, representation of the Fund to others, and the nature of disbursements will be made by Lisa Heft, and communicated promptly to OSI(US).

Changed: 70c70
Accountability: Recipients of Access Queen funds will sign a receipt verifying the amount they received along with the date. Lisa will save receipts for any expenses, which she pays directly, for a recipient of AQ funds. Information about money disbursed—number of people receiving funds and amount each received, directly or indirectly--will be reported in AQ’s annual report. Lisa will submit fundraising letters to OSI board, prior to general distribution.
Accountability: Recipients of Access Queen funds will sign a receipt verifying the amount they received along with the date. Lisa will save receipts for any expenses, which she pays directly, for a recipient of AQ funds. Information about money disbursed—number of people receiving funds and amount each received, directly or indirectly--will be reported in AQ’s annual report. Lisa will submit fundraising letters to OSI board, prior to general distribution. Financial transactions associated with Access Queen will, along with all other transactions of OSI(US), will be subject to periodical audits by independent sources.

Added: 74a75,86


Here are comments from attorney regarding this letter: (john engle's comments in parantheses)

Under the Reimbursement and Audit bullet, wouldn't it be better for OSI(US) to remit funds directly to the ultimate recipients or service providers rather than to Lisa ? (john thinks not) Would that be too onerous for OSI(US)? Are you satisfied that her after the fact reports on what has been done with the money are enough to justify remitting funds to her whenever she requests them? (yes, i believe we all feel comfortable with this)  There is no clear statement of any audit or independent review being done annually for the fund. Is that considered an unnecessary expense for such a small fund ? (statement added under accountability to address this point.)
 
Under Reporting, her processing of receipts should be in full compliance with all legal requirements applicable in the countries where the donors reside. (added)
 
Under Decision-making, you should add "and communicated promptly to OSI(US) " at the end of the sentence. (added)
 
No earth-shattering comments, but hopefully they will be of some help. Don't hesitate to buzz if you have any more questions.
 
Bob 

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