Article 6: Funds

Section 3: Operating Expenses

To cover operating and administration expenses, the Board of Directors of Troubled Times, Inc. will establish a percentage of all grants received to be set aside to cover such expenses. This percentage will be no greater than 5% as a general rule, but on a case-by-case basis may be set at a higher percentage by the Board for a given grant. The grantor will be notified of the percentage prior to board consideration of the issue. Where the grantor objects to an administrative overhead being extracted from the grant this may be waived, but only if such waiver is approved by the board. The percentage will not be taken from grants that are in and of themselves to cover operating and administration expenses. Where specific grants are given to Troubled Times, Inc. to cover operating and administration expenses, and where setting aside a percentage of other grants to cover these costs is no longer be necessary, the percentage may also be waived, should the board so rule.