What is the OIX Directed Funding Program?
The OIX Directed Funding Program provides a mechanism whereby OIX members can help to advance the mission of OIX by making contributions to OIX that are designated for a specific purpose of interest to the OIX member for the benefit of the OIX and its membership (such funds referred to as “Directed Funds”). Contributions of Directed Funds are used by OIX to fund projects for the specific purpose designated by the OIX member subject to the policies of OIX as same may be amended from time to time, or to pay for OIX-run conferences or similar events to advance the specific purpose designated by the OIX member.
OIX is a nonprofit trade association described in Section 501(c)(6) of the Internal Revenue Code of 1986, as amended, and exempt from federal income tax under Section 501(a). All Directed Funds for programs must be consistent with its legal obligations as a nonprofit. Accordingly, additional restrictions may be necessary to ensure that their is no adverse impact on the OIX continuing to be an organization described in Section 501(c)(6) that is exempt from federal income tax.
Who can contribute to the OIX Directed Funding Program?
OIX members in good standing can contribute Directed Funds to the OIX Directed Funding Program.
How are Directed Funds treated?
All contributions of Directed Funds are irrevocable donations to OIX. OIX shall have the sole and absolute discretion to accept or reject Directed Funds. All Directed Funds may be used or disbursed by OIX for the specific purpose(s) for which they were received, subject to the restrictions, if any, designated by the OIX member. Directed Funds may be accepted by OIX subject to a memorandum of understanding between OIX and the OIX member.
How are Directed Funds maintained and accounted for?
All contributions of Directed Funds will be received, held by OIX, and separately accounted for on its books and records as Directed Funds. Directed Funds, however, may be co-mingled with the general OIX funds. To ensure transparency, reports of expenditures of Directed Funds will be made available to OIX members upon reasonable request.
What directed funding options are available to OIX members?
Any OIX member may make a contribution of Directed Funds for a specific project. In addition, more than one member may, join together, to make a series of contributions to fund a project, such as, for example, via a matching funds program.
Are there are any restrictions on the OIX member’s designated use of Directed Funds?
Directed Funds will be accepted by OIX only for purposes that advance the mission of OIX, and that benefit its members and the identity community generally, as determined in the sole discretion of OIX. Contributions will not be accepted for purposes designed to solely benefit any OIX member(s), for purposes designed to provide an OIX member with a competitive advantage over other entities, subject to any restrictions unacceptable to OIX, or under circumstances that may cause OIX to cease to be an organization described in Section 501(c)(6) of the Internal Revenue Code of 1986, as amended, and exempt from federal income tax under Section 501(a). In all cases, the use of Directed Funds will be subject to the requirement that all work products and other deliverables produced through the expenditure of Directed Funds be owned by OIX, be subject to the OIX IPR policy, and be made publicly available on the OIX website.
What is the role of OIX regarding Directed Funds?
OIX will, first, make a determination of whether or not the proposed project to be funded by Directed Funds is consistent with the requirements set forth in Paragraph 6 of this FAQ, and any other policies of OIX. If the project meets the requirements of OIX, OIX shall accept the Directed Funds. OIX may, in its sole and absolute discretion, enter into a memorandum of understanding with the member(s) making the contribution.
OIX shall receive and retain Directed Funds for the use and purposes for which they are accepted. Thereafter, OIX shall use or apply such funds for the purpose designated by the OIX member. OIX shall have the sole and absolute discretion to determine the manner and method of conducting the project for which funds were received. The OIX member who contributes Directed Funds may make such recommendation as it desires for OIX consideration. OIX shall conduct such due diligence and review of any recommendations as it deems appropriate. In no event shall any contributor of Directed Funds have the ability to require that any vendor, supplier, contractor or other party to be retained by OIX to complete the project. All decisions pertaining to same shall be in the sole and absolute discretion of OIX, which discretion shall be final and not subject to review.
OIX shall have no responsibility to the OIX member contributing Directed Funds for the ultimate deliverables or outcome resulting from the Directed Funds and shall not be liable for the services or work products to be provided under any project involving the use of Directed Funds. OIX shall not be a guarantor as to the final work product in any case.
In conducting any project involving the use of Directed Funds, OIX reserves the right to deduct from the Directed Funds reasonable sums incurred for out-of-pocket expenses by OIX, and a reasonable administrative fee for undertaking the project.
How much control can the OIX member exert over the use of the Directed Funds?
Subject to the requirements set forth in Paragraph 7 of this FAQ, the OIX member contributing Directed Funds may designate a specific project on which the Funds are to be spent, recommend person(s) or entity to whom Directed Funds will be paid, specify the general category or subject matter for which the Directed Funds should be used, as well as other related requirements specified in a memorandum of understanding negotiated between OIX and the OIX member at the time the Directed Funds are contributed. Notwithstanding the foregoing, in the event that subsequent to the acceptance of Directed Funds OIX determines that the project may cause OIX to cease to be an organization described in Section 501(c)(6) of the Internal Revenue Code of 1986, as amended, and exempt from federal income tax under Section 501(a), OIX shall have the sole and absolute right to terminate such project. In such event, all unused funds will remain the property of OIX and available for future projects. The OIX member shall not have a right to receive a refund of its contributions.
How will work product and other deliverables be used?
All work products resulting from the use of any Directed Funds will be owned by OIX and subject to the IPR policy of OIX. OIX will make such work product freely available on its website. In no case will ownership of, access to, or use of any such work product be restricted to or by any OIX member.
Can an OIX member terminate a project?
An OIX member can request that OIX terminate a specific project, and OIX will use reasonable efforts to do so, consistent with its commitments to the service providers involved. In the event of any such termination, all unused funds will remain with OIX and available for future projects. The OIX member shall not have a right to receive a refund of its contributions.
What is the responsibility/liability of OIX to the OIX member for performance of the project?
OIX takes on only the general obligation to use the funds for the general purpose specified by the OIX member, subject to the limitations and conditions described in this FAQ, any applicable memorandum of understanding, and such policies of OIX as amended from time to time, and to administer the disbursement of funds in accordance with that purpose. OIX does not take on any responsibility for achieving any specific result or deliverable, or for insuring that any resulting work product or services are acceptable to the OIX member.
What happens to Directed Funds that are not used for a particular project?
All Directed Funds will be applied for a specific purpose. If a project under which such funds are expended does not exhaust the funds, the remaining funds may be contributed to the OIX general fund at the sole discretion of the OIX member or will continue to be maintained in a segregated account for the specific purpose originally designated or for an additional project(s) within the scope of the designated purpose. Directed Funds are not refundable.
Are there any other restrictions or requirements for the OIX Directed Funding Program?
All directed funding programs must be consistent with the legal obligations of OIX and its members under applicable antitrust and fair business practice laws and regulations.
Where can I get more information about the OIX Directed Funding Program?
Contact Don Thibeau, OIX Chairman & President: email@example.com