The agreement for the donation of charitable funds (Pledge Agreement) is made as of the date of this registration (Effective date) between Registrant a corporation, partnership, LLC, or other business entity or commercial enterprise (Business Member Donor), and OnePercent for Education, a California nonprofit public benefit corporation exempt from taxation under Internal Revenue Code section 501(c)(3).
Business Member Donor hereby pledges to make a recurring annual donation (the Gift) to OnePercent for Education for the benefit of approved educational Nonprofit Partner(s) of OnePercent for Education (Nonprofit Partners) in a dollar amount equal to OnePercent of the metric specified in Business Member Donor’s registration form or in the specific dollar amount specified in Business Member Donor’s registration form. Business Member Donor acknowledges that for each Gift made OnePercent for Education will consider a maximum of 95% of their Gift amount as restricted to OnePercent for Education’s Achievement Fund and a minimum of 5% of their Gift amount as free from restrictions. Business Member Donor further acknowledges that they may choose to adjust the portions of their Gift(s) that are restricted and free from restrictions provided that they adhere to the maximum and minimum as stated in this section of the Business Member Donor Pledge Agreement.
A portion of the Gift (up to 33% of the dollar value) may be satisfied in the form of employee volunteer hours or in-kind contributions of products or services, as agreed to in advance by OnePercent for Education. Business Member Donor agrees to satisfy its annual pledge within 90 days of the close of its fiscal year.
OnePercent for Education agrees to designate and approve qualified educational nonprofit organizations as Nonprofit Partners eligible to receive Business Member Donor-Directed Gifts. OnePercent for Education further agrees to make information available to Business Member Donor regarding eligible Nonprofit Partner(s) programs and services through its website, other forms of digital communication and upon request by Business Member Donor. OnePercent for Education further agrees to inform Business Member Donor of Gift(s) received and related funds disbursed to Nonprofit Partner(s).
OnePercent for Education agrees to disburse Gifts made to the OnePercent for Education Achievement Fund to one or more Nonprofit Partners consistent with OnePercent for Education’s charitable purposes and taking fully into account the preferences of the Business Member Donor making the Gift as documented in Business Member Donor’s profile. OnePercent for Education retains variance power over the full amount of Business Member Donor’s Gift(s).
Business Member Donor will be considered a member in good standing for each year in which a Pledge Agreement is in effect and has been satisfied. This Pledge Agreement shall be valid and irrevocable for the Business Member Donor’s fiscal year following the Effective Date, and thereafter shall remain in full force and effect unless and until terminated. Business Member Donor may choose to cancel or non-renew a Pledge Agreement by giving written notice (including email notice) to OnePercent for Education. Business Member Donor and OnePercent for Education agree that entering into a Pledge Agreement or making a Gift for one year does not create a binding obligation to make a Gift in the same amount or in any amount in subsequent years. Business Member Donor and OnePercent for Education further agree that Business Member Donor may update their Business Member Profile and adjust their estimated pledge amount at any time by logging into OnePercent for Education’s Member’s-only portal or by communicating their desired updates to OnePercent for Education through print, digital and/or in-person modes of communication (including mailed letter, email, phone call, virtual and/or in-person meeting with OnePercent for Education representatives).
While Business Member Donor is in good standing, OnePercent for Education grants to Business Member Donor a nonexclusive, nontransferable, royalty-free commercial license to utilize and display the Logo of One Percent for Education in the form attached as Exhibit A on marketing materials, websites, social media platforms, advertising, or external communications for the purpose of communicating Business Member Donor’s support for the charitable purposes of OnePercent for Education. This license shall be subject to revocation by OnePercent for Education if Business Member Donor fails to fulfill or cancels or non-renews its Pledge Agreement. Business Member Donor will not use the Logo in a manner that will diminish or otherwise damage OnePercent for Education’s goodwill or reputation as OnePercent for Education determines in its sole discretion and OnePercent for Education reserves the right to unilaterally terminate Business Member Donor’s right to use the Logo if OnePercent for Education believes that Business Member Donor is using the Logo is such a manner. Upon revocation or termination of this license, Business Member Donor will immediately cease all use or display of the Logo.
This Business Member Pledge Agreement shall be governed by and construed according to California law.