Coyote Creek Learning Fund is an affiliate of the San Ramon Valley Education Foundation. For more information, visit www.srvef.org
Instead of incurring the time and expense of creating a separate nonprofit public benefit corporation, the Coyote Creek Learning Fund (CCLF) has decided to affiliate with the San Ramon Valley Education Foundation ("Foundation").
As an "affiliate" of the Foundation, CCLF operates and functions as an auxiliary organization of the Foundation under the umbrella and group exemption of the Foundation's 501(c)(3) group tax exemption. As a condition precedent to operating as an affiliate, each affiliate organization is required to execute a Memorandum of Understanding, which obligates CCLF to abide by the policies, rules and regulations of the Foundation relative to operating and maintaining its status as an affiliate of the Foundation. The primary goals and objectives of the Memorandum of Understanding are to emphasize the importance of fiscal prudence, the development of effective governing policies and guidelines, the implementation of appropriate checks and balances in fiscal reporting, and the maintenance of adequate and timely records for audit purposes.