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This document contains the (draft) Finance Policy for Kantara Initiative, Inc. a non-profit 501(c)(6) industry association incorporated in the US state of Delaware. This policy applies to Kantara Initiative, Inc. and all its subsidiaries and affiliates.
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- 5% of the External Funds will be collected by the Kantara Initiative, Inc. as an administrative fee.
- External Funders can ear-mark their contribution to a specific Group Activity by including a letter accompanying the contribution stating the Activity they are supporting.
- There is no requirement for the Kantara Initiative, Inc. to accept External Funds that are offered.
- If the External Funds received exceed the amount paid out for the Activity, the Group Leadership, Kantara Staff, and Treasurer will work with the External Funder(s) to determine how to manage the excess funds (e.g. return the unused portion or roll it into the Kantara general fund for redistribution). The consequent change to the budget must be presented to the Board of Directors.
- If a Participant of the Group sponsoring the Activity is interested in receiving some of the External Funds, he/she must recuse him/herself from votes relating to the Activity.
- Policy Revisions.
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May 29, 2009
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July 8, 2010
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Addition of External Funding Policy Approved by Board of Trustees for revision Version 1.1
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December 2, 2022
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7. Policy Revisions.
- May 29, 2009 - Version 1.0 Policy Approved by Board of Trustees
- July 8, 2010 - Addition of External Funding Policy Approved by Board of Trustees for revision Version 1.1
- December 2, 2022 - Version 1.2 approved by the Board of Directors
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