Mazda Foundation

Mazda Foundation

Terms & conditions

Financial assistance is available to people, groups or organisations who may qualify for income tax deductible gifts whose Application fits within the areas outlined in the Mazda Foundation Grant Guidelines, www.mazdafoundation.org.nz

Grants will be administered through the Mazda Foundation Charitable Trust. Applications will be considered at the Foundation Board Meetings held in April, July and October. All applicants whether successful or not in obtaining a grant from the Mazda Foundation will be notified in writing of the decision.

The Mazda Foundation Trustees as detailed on the website will decide on the successful applicants and the amount of funding they will receive. The Trustee’s decision will be final, and no correspondence will be entered into.

Application forms will not be returned.

Successful recipients must cooperate with the administrators and agents in the publicity and promotion of the Mazda Foundation.

An Application to the Mazda Foundation constitutes acceptance of these terms and conditions.
 

Decisions by Trustees

All final funding decisions are made by a quorum of at least three members of the Mazda Foundation Board of Trustees.

Grant applications found to be non-compliant will not be approved. In this context, “non-compliant” means grant applicants that do not contain all the relevant information, are retrospective, where previous accountability information has not been received, where there is a conflict of interest, where it does not comply with the authorised purpose of Mazda Foundation, or where there is information that the applicant has received funding from other source(s) for the full amount needed for the purpose applied for here.

An application for funding is considered “retrospective” if goods and services are purchased prior to consideration by the Board of Trustees. If an event takes place or goods/services are purchased prior to the Trustees decision, then the application will be considered non-compliant and declined.

 

Conditions for Allocation of Funds

  • Only non-profit bodies may apply, that is, any society, association or organisation whose rules do not allow funds, property or benefits to be distributed to any of its members.
  • It is a condition of the Foundation’s licence that the proposed allocation will be applied for the purpose stated and no other purpose. Acceptance of the payment will be deemed to confirm that the allocation has or will be applied accordingly.
  • In the event of non-compliance with any of these conditions, an amount equal to the grant amount will be immediately repayable by the recipient organisation to The Mazda Foundation.
  • The receiving organisation acknowledges and accepts that public disclosure will be made of any funds allocated by The Mazda Foundation as a result of this request.
  • All applications will be given due consideration by The Mazda Foundation Board of Trustees. The Trustees are the final arbitrator as to the success or otherwise of any grant application, irrespective of the application meeting all or any of The Mazda Foundation’s authorised purpose and/or donation criteria.
  • Grant requests must be for future spending. Grants will not be approved for expenditure that has already been incurred at the time the application is reviewed by the Board of Trustees of the Mazda Foundation.
  • Grants must be of direct and immediate benefit to the organisation applying.
  • All uniforms, equipment etc must remain the property of the recipient organisation.

 

Accountability Requirements

Recipients of grant funding must return paid invoices and bank statements to Mazda Foundation within the timeframe stipulated by the foundation after the funds have been spent to complete the accountability requirement. If these funds were not spent for the appropriate purpose, the foundation will request a refund of the full amount of the grant. If a funding surplus exists, the surplus must be returned to Mazda Foundation by direct credit within 20 working days of the request or as otherwise agreed with Mazda Foundation.

Grant recipients must use approved funds for the specific authorised purpose for which it was granted, Failure to account for funds spent against the specific authorised purpose will result in the foundation requesting a refund.

The Trustees will not generally make a grant to any organisation who has previously received a grant, but has not spent these funds, or returned the relevant accountability documentation or refund to Mazda Foundation.

Mazda Foundation may at any time request further accountability documentation to ensure funds have been spent appropriately.

Where information is obtained by the Board indicating that a grant recipient has received funding from other source(s) for the full amount needed for the purpose applied for here, the Board will take reasonable steps to obtain a return of the money from the grant recipient. If a refund is requested, the grant recipient must return this money to Mazda Foundation by direct credit within 20 working days of the request or as otherwise agreed by Mazda Foundation.

 

 

 

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