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Tree and Open Space Donations
VILLAGE PRESERVATION AND IMPROVEMENT SOCIETY (VPIS)
VPIS Trees, Landscape and Open Space Improvement Fund (VTLOIF)
ARTICLE I - NAME and ADMINISTRATION
The VTLOIF is a restricted fund and a component of the VPIS financial holdings. All donations to the VTLOIF will go directly to the purpose of the fund and no administrative costs will be paid from the fund. VPIS is an IRS 501(c)(3) entity and as such donations to the fund are tax deductible.
ARTICLE II - PURPOSE
The purpose of VTLOIF is to create a fund within VPIS restricted to the planting of trees and other landscaping efforts within the City of Falls Church, preserving and creating open space and supporting appropriate education and public awareness programs (advocacy efforts). Activities of VTLOIF shall be consistent with the policies of VPIS and shall be conducted in a manner to promote and encourage tree plantings and open space in the City of Falls Church.
ARTICLE III - GOVERNING BODY
The governing body of the fund shall be the VPIS Board of Directors.
ARTICLE IV - FUNDS
Section 1 - Fiscal Year
The fiscal year of VTLOIF shall be the same as VPIS, January 1 through December 31.
Section 2 - Accounting
An accurate account of VTLOIF funds shall be kept by the treasurer of VPIS. The treasurer shall make an accurate report of the year's transactions at each general membership meeting. The Treasurer shall also make a report whenever requested by the Board or the President.
Monies and other property received by VTLOIF shall be the property of VPIS, will be retained in a restricted fund dedicated to the uses described in Article IV, section 4 and will not be absorbed into the VPIS general fund at the close of the fiscal year.
Section 3 - Expenditure of Funds
The monies of VTLOIF shall be expended only with the approval of the VPIS Board of Directors at any legal meeting where a quorum is present.
Section 4 - Uses of Funds
Donated funds shall be spent consistent with the goals, objectives and priorities of VTLOIF. Appropriate uses of VTLOIF funds shall include but shall not be limited to:
(a) Procurement and planting of trees, plants and landscaping materials;
(b) Acquisition or enhancement of open space and easements in the City of Falls Church;
(c) Creation and expansion and implementation of educational and public awareness programs related to the purpose of the fund in Article II.
Section 5 - Donations
Donations may take the form of cash, cash equivalents or other gifts, such as stock, real estate, artifacts, archival materials, valuables, tools or equipment that are either appropriate to the mission of VTLOIF or may be liquidated to produce cash funding. The VPIS Board shall be responsible for approving and accepting all donations.
ARTICLE V - AMENDMENTS
Amendments can be approved by a simple majority vote at a VPIS Board meeting.
ARTICLE VI - ADDRESS
The address of VTLOIF shall be P.O. Box 6824, Falls Church, Virginia 22040.