Purpose

To establish guidelines for entering into and managing joint ventures with other organizations, with the purpose of ensuring that the Foundation’s mission, tax exempt status, and legal compliance are protected.

Policy Statement

My Green Doctor Foundation and My Green Doctor, a non-profit 501c3 organization, may participate in joint ventures with other organizations when such arrangements further its charitable mission and comply with applicable laws and regulations.

Definition

Joint Venture: Any arrangement where My Green Doctor Foundation or My Green Doctor and one or more parties jointly undertake a specific business enterprise, investment, or activity. Not considered as a Joint Venture are routine contracts that My Green Doctor Foundation or My Green Doctor may sign with vendors that provide services to My Green Doctor Foundation or My Green Doctor. Also not considered as Joint Ventures are routine practice management memberships whereby My Green Doctor provides practice management education to outpatient healthcare locations.

Approval Process

• All proposed joint ventures must be reviewed and approved by the Board of Directors.

• Legal counsel must review before execution all joint venture agreements valued at more than $10,000 per year.

Due Diligence

• Assess the potential partner’s reputation, financial stability, and alignment with the nonprofit’s mission.

• Evaluate risks, benefits, and compliance with IRS regulations.

Agreement Requirements

Each joint venture agreement must:

• Clearly define the purpose, scope, and duration of the venture.
• Specify each party’s contributions, roles, and responsibilities.
• Outline management structure and decision-making processes.
• Detail profit/loss sharing, if applicable, and tax treatment.
• Include provisions for protecting the nonprofit’s exempt status (e.g., requiring activities align with charitable purposes; reserving the right to withdraw without penalty or prejudice if activities jeopardize tax-exempt status).
• Address confidentiality, intellectual property, and dispute resolution.
• Set terms for amendment and termination.

Oversight and Reporting

• The Foundation will monitor joint venture activities to ensure ongoing compliance and mission alignment.

• Annual reports on joint venture performance shall be provided by the Executive Director to the MGDF Board of Directors.

Conflict of Interest

• Any conflicts of interest must be disclosed and managed in accordance with the Foundation’s Conflict of Interest Policy.