Davis Family Fund of the Davis Health System Foundation

The DHS Foundation Davis Family Fund, established in May 2015 with an initial donation of $34,447 from the Davis Health Systems Foundation, serves as a temporarily endowed fund dedicated to supporting the Davis Health Systems Foundation through annual distributions, with flexibility for reinvestment or additional disbursements as recommended by its governing board.

TYPE OF FUND: Agency Endowment

DATE ESTABLISHED: May 2015

PURPOSE: The fund shall be used and distributed at the discretion of the Board of Directors of the Foundation for the sole purpose of supporting the Davis Health Systems Foundation. It is intended as a temporarily endowed fund for Davis Health Systems Foundation, providing an annual distribution as outlined in the Foundation’s general policies. Upon recommendation of the Board of Directors of the Davis Health Systems Foundation, distributions may also be reinvested into the fund. Distributions exceeding the fund’s “annual spending policy” may be made at the discretion of the Board of Directors of the Foundation, based on a two-thirds vote of the Davis Health Systems Foundation governing board. While these recommendations are advisory, approval of such distributions by the Foundation shall not be unreasonably withheld.

DISTRIBUTION: Upon the recommendation of the Grants Committee and approval by the Board of Directors of TCF.

VARIANCE POWER: If, in the judgment of the TCF Board of Directors, the restrictions and conditions of the fund become unnecessary, incapable of fulfillment, or inconsistent with the charitable needs of the community, the TCF Board of Directors maintains the right to modify the terms of this fund. TCF has exclusive legal control over any contributed assets.

FUNDING: The Davis Health Foundation donated $34,447 to start the fund.