A community foundation’s governing body retains variance power by which it may modify any restriction or condition on the distribution, if circumstances warrant.
Mission, Structure and Governance - Standard II. Part E.

The Standard

A community foundation’s governing body retains variance power by which it may modify any restriction or condition on the distribution, if circumstances warrant.

Underlying Rationale

Retaining and exercising the variance power insures that the donors’ interest in the community is efficiently executed and continues to remain relevant to that community’s changing needs and opportunities. As well, the variance power is consistent with Internal Revenue Services regulations.

Potential Outcomes

1. The application of funds remains relevant to changing community conditions.
2. Donors will be attracted to the notion that their gifts will always be protected from obsolescence.