If the manager dies or becomes incapacitated or cannot be found after diligent search and has failed to name an authorized individual to make distributions in his or her place; or if such named individual is dead, incapacitated, or cannot be found after diligent search, then in either such event NHF shall be authorized to make distributions from the DAF account as it deems appropriate, taking into consideration previous designations or recommendations made by the Manager or his designees.

Distributions recommended from the fund are to be made to qualified U.S. 501(c) organizations or charitable projects within the New Horizons Foundation and used exclusively for charitable purposes, not for the private benefit of the donor advisor fund manager(s). Foreign distributions must follow the “Foreign Grant Guidelines” and be made to a qualified organization.

Managers may also place in the project file a letter designating how funds are to be distributed in the event of the death of the Managers.

The undersigned applicant understands that gifts to and disbursements from the Charitable Project will go only to qualified charitable organizations and/or activities that satisfy the requirements of the Internal Revenue Code, the regulations of the Internal Revenue Service, and the policies of THE NEW HORIZONS FOUNDATION, INC. The undersigned applicant further understands that to qualify as a deductible contribution for income tax purposes, the ownership and custody of the donated funds and property must be fully relinquished to THE NEW HORIZONS FOUNDATION, INC.

Policies, procedures, and forms of THE NEW HORIZONS FOUNDATION, INC. relating to distributions, investments,
contributions, project administration, etc. may be found in the NHF Policy Manual.

The undersigned applicant certifies that they have received a copy of the Policy Manual and have been fully apprised of the
policies and procedures of THE NEW HORIZONS FOUNDATION, INC. It is understood that the Manager is not an agent of THE NEW HORIZONS FOUNDATION, INC. and agrees that he will not represent that he is such an agent.

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