The Virtual Foundation - your donation makes it happen
Letter of Agreement Between ECOLOGIA and Virtual Foundation
I. General Goals
The purpose of the Virtual Foundation is to promote a new kind of
international philanthropy, using Internet technology to link small scale
donors and NGOs. This will provide NGOs with new sources of funding for
community projects ranging from $100-$5000 and allow donors and grant
recipients to establish long term partnerships.
The Virtual Foundation consists of a consortium of experienced regional
grant-making organizations as local grant administrators and ECOLOGIA as
manager and international coordinator.
II. Responsibilities of ECOLOGIA as Virtual Foundation Manager
- Maintain the Virtual Foundation World Wide website.
- Provide Virtual Foundation Consortium Members with an opportunity
to place current information about their organization on the Virtual
Foundation website, or to make a hypertext link to the member's
- Review, approve and post proposals endorsed by the Consortium
Member on the Virtual Foundation Website
- Establish by mutual agreement between ECOLOGIA and the Consortium
Member the number and maximum dollar amount of proposals.
- Ensure that the Virtual Foundation operates in conformance with:
- the tax laws of the United States,
- standard international practices concerning the
publication of materials on the Internet, and
- prevailing principles of conduct for fundraising to
guarantee credibility of the Virtual Foundation.
- Develop policies and procedures in cooperation with Consortium
- Process funds from donors expeditiously and in the most
cost-effective manner for each Consortium Member.
- Guarantee donors and Consortium Members absolute transparency
concerning all financial transactions.
- Account for all Virtual Foundation funds using standard US
accounting procedures and undergo an external financial audit annually.
- Provide financial support for administrative costs by adding a
ten percent administrative fee on each grant request. ECOLOGIA
and the local Consortium Member administering the grant will each
receive half (50%) of the administrative fee.
Social Marketing and Public Outreach
- Publicize the Virtual Foundation in appropriate US media,
targeting major publications read by potential donor groups
including: computer magazines, environmental periodicals, major
church journals, national publications of major community service
clubs, national newsletters for teachers, ethnic organization
- Conduct a concentrated outreach effort to specialized donor
communities including private philanthropists, small family
foundations, all major US Foundations working in the
environmental sector, and organizations generally promoting new
forms of philanthropy.
- Solicit the public endorsement of traditional foundations and
major international nongovernmental organizations (NGOs).
III. Responsibilities of Partners as Virtual Foundation Consortium
Organizations that apply for Consortium Membership must be willing and
able to cooperate with ECOLOGIA to
- work with grant applicants to produce proposals in the required
- work with grant applicants to assist in the design of projects as
- facilitate grant applicant communications with the Virtual
Foundation and with transfers of grant funds;
- provide oversight to insure that grant funds are used properly;
- work with grant applicants to ensure that they produce a final
- share ECOLOGIA's commitment to transparency of finances and
administration in Virtual Foundation projects.
- maintain low overhead costs on Virtual Foundation projects and
commit to directing the majority (90%) of Virtual Foundation
resources directly to NGOs.
The additional costs of participating in The Virtual Foundation are to be
covered by the Consortium Member.
ECOLOGIA Representative Consortium Member