SB7 Support Foundation

SB7 supports the charitable, educational, scientific, religious and literary programs and organizations in the port covington community of baltimore and the six (6) communities around port covington: brooklyn, cherry hill, curtis bay, lakeland, mt. Winans and westport. The Foundation may make grants directly to organizations within the class of charitable beneficiaries SB7 supports, but it is anticipated the substantial majority of grants will be made directly to SB7 as the supported entity.the Foundation does not anticipate making many grants to entities other than SB7 and, therefore, does not plan at this time to have written contracts with recipients or requiring any specific form of application or grant proposal. When the Foundation does make a grant to an organization other than SB7, the board will require that the potential grantee establish it is still in good standing with its state of incorporation and the irs and will verify tax-exemption using the irs exempt organization business master file and/or publication 78, as well as review other information and material. Accordingly, although the Foundation does not anticipate requiring potential recipients to complete a specific application form, the Foundation will obtain sufficient evidence to verify that the potential recipients are eligible for grants. The Foundation's records will demonstrate its grant recipients' intended use of the grant for a section 501(c)(3) purpose and will include such items as: a complete description of the grant; the purpose for which the grant is given; the name, address, and amount distributed to each recipient; and any relationship between a recipient and officers or directors of the Foundation.