Posted: November 09, 2023
Rapid City
Agenda Item Summary

Agenda Item Ref. #: LF111513-01

Agenda Item Title:

Authorize Mayor and Finance Director to Sign the Charitable Fund Agreement with Black Hills Area Community Foundation

Origination Group:
Legal & Finance Committee
Origination Meeting Date:
11/15/2023
City Council Hearing Date:
11/20/2023
Staff Contact:
Jamie Toennies
Location:
Circle of Friends Community Room
Agenda Item Summary:
Periodically, the City has worked with the Black Hills Area Community Foundation to support fundraising for various capital projects (for example the lighting project at Parkview Recreation Complex). In addition, the Foundation is the custodian for charitable funds that benefit individual City departments (for example, the Fire Department and the Community Relations Commission).

Individuals have begun approaching the Foundation asking to make contributions for additional projects, like the skate park, as they would like to donate to the Foundation directly since it is a 501 (c) 3.

Instead of creating numerous funding agreements with the Foundation, this agreement would create one umbrella agreement with the Foundation to govern their relationship with the City. Then the City can authorize additional accounts for projects or activities that it approves. The Foundation would provide quarterly balance statements broken down for each individual initiative.

The agreement has been vetted by the Attorney’s Office.

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center
Is Funding Budgeted?:
Not Budgeted

Recommendations:

Origination Recommendation Action:
Approve

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