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Policy of OPS Executive Committee Regarding Restricted Funds

 OPS welcomes donations, and thanks all friends of Ocracoke and the Society who so graciously contribute money, documents, photos and artifacts for the preservation of island history and culture. We strive always to be good stewards of all donations.The majority of monetary donations are unrestricted. Ocracoke Preservation Society uses these funds at the discretion of the Executive Committee with input from various special committees.
A portion of donations made to the Society are restricted. Special accounts may be set up by the Executive Committee for specific projects (e.g. to restore an historic boat, to digitize photos and documents, or to fund educational events). Sometimes these projects are initiated by the Executive Committee. At other times members of the Society or friends of the island may offer to donate money or artifacts for a project of the donor’s choosing. In this case, prior to accepting the donation, the Executive Committee (with advice from relevant committees) will decide if the project both promotes the mission of the Ocracoke Preservation Society and can be implemented adequately.
Once a restricted fund is established, money in that account will be used only for the express purpose for which it is designated. In the unlikely event that restricted funds are remaining after the completion of a project or the project is incapable of completion, as determined by the Executive Committee after receiving a recommendation from the relevant OPS Committee, every effort will be made to contact the donors to determine their wishes for the redistribution or return of their contributions. If the donors cannot be reached after a reasonable period of time, the Executive Committee, after receiving a recommendation from the relevant OPS Committee, will make a determination for the redistribution of remaining funds.

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