Policy #02-01

General Donations

    The Foundation Board, having set clear objectives toward long-term development, will annually retain up to fifty percent of general donations received and will designate those funds toward capital growth.  This objective, with the concurrence of the Foundation President and Registered Agent, may be modified or waived should the St. Charles City-County Library District have immediate need of funds contributed to the Foundation, and will be secondary to minimum distribution standards specified in Article II, Section 1 of the Foundation Bylaws.  This policy shall not apply to grants, special funding, or restricted donations with specified end dates, or implementation deadlines.