HomeMy WebLinkAboutSummary FormAGENDA ITEM SUMMARY FORM
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FILE ID:
Date: 2/17/2009 Requesting Department: ITD
— Law Department
Commission Meeting Date: 3/12/2009 District Impacted: Matter ID No.
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item 08-1799
❑ Other
Subject: Agreement between the City of Miami and the Dade Community Foundation to Establish the
Elevate Miami Fund
Purpose of Item:
The purpose of this agreement is to allow the Dade Community Foundation (the "Foundation") to administer
the: (1) creation of a fiscal sponsorship fund ("The Elevate Miami Fund"); and (2) incorporation of the Elevate
Miami Program in order to attain tax-exempt status under section 501(c)(3) of the Internal Revenue Code.
Once incorporated, the Elevate Miami Program will become Elevate Miami Inc. The agreement with the
Foundation will terminate once incorporation is achieved, but in no event shall the agreement go beyond five
years from the effective date. The initial contribution to the Foundation (for the establishment of the Elevate
Miami Fund) will come from monies contained in a grant the City received from the "Alliance for Digital
Equality."
Background Information:
Allowing the Foundation, a tax-exempt organization, to administer the Elevate Miami Fund until the Elevate
Miami Program incorporates as its own tax-exempt entity under Section 501(c)(3) of the Internal Revenue
Code, will present more funding opportunities that would allow Elevate Miami to reach new heights of success.
"Elevate Miami" is a comprehensive and wide-ranging initiative that includes four components: (1) Digital
Literacy; (2) ACCESS Miami; (3) the Education Compact; and (4) Community Outreach (collectively, the
"Program"). Each component targets the City's youth, low-income families, minorities, seniors and all
residents facing barriers to economic empowerment.
Budget Impact Analysis
NO Is this item related to revenue?
YES Is this item an expenditure? If so, please identify funding source below.
General Account No:
Special Revenue Account No:
CIP Project No.-
NO
o:NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
CIP
If using or receiving capital funds
Grants
Purchasing
Chief
Final Approvals
(SIGN AND DATE)
Budget
Risk M
Dept. I
City M
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