South Bay Friends Foundation

Concept:
• Members come together as friends to raise money to help those in need (e.g. local and/or national charities and college-bound students).
• Members are from Hermosa Beach and other areas of the South Bay who contribute at least $150 per year and desire to be part of something bigger than themselves. Ex*****on:
• Each person who contributes at least $150 per year is considered a “Member”

of the Foundation.
• The Membership year is from Oct. 1st to Sept. 30th of the following year.
• Couples/families must contribute at least $150 for both/all to be Members, but they vote as one person unless each of them contributes at least $150.
• All contributions are tax deductible as charitable contributions (HFF’s Tax ID number is 81-2697458).
• At least once per quarter, Members get together to vote on where to grant/donate their pooled funds.
• Each Member can submit one charity per event for grant consideration and each Member gets one vote.
• At least two grants are awarded at each event, and the amounts depend on total fundraising/Membership for the year.
• Get-together events are held at local restaurants, tasty-beverage establishments and Members’ homes.
• Grants are awarded only to 501(c)(3) tax exempt nonprofit organizations (local and national) and/or for academic scholarships to local graduating high school seniors.
• Members may use the grant money to purchase items needed by the recipient charity and then donate the goods in person in-kind.
• Financial accounts and records are 100% transparent to all Members at any time.