Endowment of the American Vineyard Foundation

The American Vineyard Foundation (AVF) is classified as a non-profit, tax-exempt scientific and educational organization under Section 501(c)(3) of the U.S. Internal Revenue Code. Donations to the Fund constitute deductions for the U.S. federal income, estate, and gift tax purposes. Similar deductions are available for most corresponding state taxes in the United States.

Management of the fund

Three Endowment Fund trustees and a six member Endowment Fund Overview Committee appointed by the president and approved by the AVF Board of Directors will manage toe Fund under guidelines approved by the Board. The Trustees will be responsible for investing the Fund in a prudent manner, using professional advisory or management services with the consent of the Board as to the amount of money, which will be available for disbursement for research. The principal of the Fund shall not be used for any other purpose other than to generate income. The income is to be used for research purposes as dictated by the Endowment objective.

The Endowment fund shall not have a minimum donation and all donations are welcome. A donor letter will be sent out annually stating the type of revenues that the donor gift has generated.

Income from the Endowment Fund shall be disbursed on an annual basis, once the Fund has reached its goal, and the annual disbursement shall be timed to coincide with the research grant period.

No part if the Fund shall be used to develop propaganda or otherwise attempt to influence legislation, to participate in any political campaign or to promote fundraising efforts.

In the event that the American Vineyard Foundation shall be dissolved or cease to exist, the Fund shall terminate and all the remaining assets of the Fund, after the settling of obligations and liabilities, shall be disbursed equally to the Departments Viticulture & Enology at U.C. Davis and the California State University at Fresno, for The sole purpose of enology and viticulture research.