NonProfit Agreement

Introduction

At SAC Institutions, we believe in fostering transparency, accountability, and collaboration with all our partners. Our NonProfit Agreement outlines the principles, responsibilities, and commitments that guide our work with organizations, donors, and stakeholders. This agreement ensures that all activities align with our mission to serve communities ethically and effectively.

Purpose of the Agreement

The NonProfit Agreement is designed to:

  • Establish clear expectations between SAC Institutions and partnering organizations.
  • Ensure compliance with legal and regulatory standards.
  • Promote responsible use of funds and resources.
  • Strengthen trust and long-term relationships with stakeholders.

Key Principles

  1. Transparency – All financial transactions and program activities will be documented and reported accurately.
  2. Accountability – SAC Institutions and partners are responsible for the ethical use of resources.
  3. Collaboration – Joint efforts will be encouraged to maximize community impact.
  4. Compliance – Adherence to local, national, and international nonprofit regulations is mandatory.

Scope of the Agreement

This agreement applies to:

  • Partnerships with NGOs, charitable trusts, and community organizations.
  • Donations, grants, and sponsorships received by SAC Institutions.
  • Volunteer programs and collaborative initiatives.
  • Any project or activity conducted under the nonprofit framework.

Responsibilities of SAC Institutions

  • Maintain accurate financial records and provide timely reports.
  • Ensure that funds are used solely for approved nonprofit purposes.
  • Uphold ethical standards in all operations.
  • Provide partners with necessary support and guidance.

Responsibilities of Partner Organizations

  • Use resources in alignment with the agreed objectives.
  • Submit progress reports and financial statements as required.
  • Comply with all applicable laws and regulations.
  • Maintain open communication with SAC Institutions.

Termination Clause

The agreement may be terminated if:

  • There is a breach of compliance or misuse of funds.
  • Either party fails to fulfill their responsibilities.
  • Mutual consent is reached to discontinue the partnership.