The Virtual Foundation - your donation makes it happen

Letter of Agreement Between ECOLOGIA and Virtual Foundation Consortium Members

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

Technical Support

  1. Maintain the Virtual Foundation World Wide website.
  2. 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 Internet site.

International Coordination

  1. Review, approve and post proposals endorsed by the Consortium Member on the Virtual Foundation Website
  2. Establish by mutual agreement between ECOLOGIA and the Consortium Member the number and maximum dollar amount of proposals.
  3. Ensure that the Virtual Foundation operates in conformance with:
  4. Develop policies and procedures in cooperation with Consortium Members.

Financial Management

  1. Process funds from donors expeditiously and in the most cost-effective manner for each Consortium Member.
  2. Guarantee donors and Consortium Members absolute transparency concerning all financial transactions.
  3. Account for all Virtual Foundation funds using standard US accounting procedures and undergo an external financial audit annually.
  4. 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

  1. 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 publications, etc.
  2. 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.
  3. Solicit the public endorsement of traditional foundations and major international nongovernmental organizations (NGOs).

III. Responsibilities of Partners as Virtual Foundation Consortium Members

Organizations that apply for Consortium Membership must be willing and able to cooperate with ECOLOGIA to

The additional costs of participating in The Virtual Foundation are to be covered by the Consortium Member.

ECOLOGIA Representative                  Consortium Member

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