AG 1998 01 20 - Laserfiche WebLink

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December 2, 1997 THE: CANNON FOUNDATION, INC. CONCORO. NORTH CAROLINA 28026-0~48 Ms. Sue Casper, Chairman Board of County Commissioners Cabarrus County Post Office Box 707 Concord, North Carolina 28026-0707 Dear Ms. Casper: The Cannon Foundation, Inc. is pleased to inform you that its Board of Directors has approved a grant in the amount of $37,580.00 in response to your recent proposal, for the purpose stated below: Cabarrns Health Alliance - Sisters In Partnership In keeping with our past procedures, and in order to comply with regulations applicable to foundations such as ours, ail grants will be made onIy 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 Unot private foundations" withia the meaning of Code Section 509(a). In order that the Foundation may comply with all Internal Revenue Code Regulations and other requirements, we axk 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: Applicant agrees to expend the funds from this grant only for the purposes stated above and in accordance vAth Section 501(c)(3), Section 4945 and other applicable provisions of the Internal Revenue Code. 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. We require notification of any change in your Federal tax status before or during the period the grant funds are being spent. It is understood that grant payments which are yet to be made by the Foundation may be discontinued, modified, or withheld if, in our sole judgment, such action is necessary to comply with the requirements of the law.