The Patuxent Partnership MOU
Memorandum of Understanding
This Memorandum outlines the relationship by which The Patuxent Partnership will support the collection of tax-deductible donations to fund the operations and growth of PaxSpace, Inc.
PaxSpace, Inc. is a new Maryland non-profit Makerspace located in St. Mary’s County, Maryland. PaxSpace is currently pursuing, but has not yet obtained approval as a charitable organization pursuant to IRS 501(c)(3). PaxSpace is a unique, community operated learning environment designed to create, innovate, coordinate, and provide education and scientific awareness to Southern Maryland. PaxSpace allows individuals to come together to share knowledge, skills and creativity. From electronics to 3D printing, PaxSpace members are part of a growing and open network, sharing ideas and insights. There are training and learning labs, as well as shared tools and equipment. Members are provided access to all PaxSpace has to offer. As a new organization, PaxSpace is aggressively trying to grow its membership ranks and funding.
The Patuxent Partnership, Inc. is a 501(c)(3) nonprofit member organization that works with government, industry and academia to advance education through STEM based initiatives, programs, research and development support and networking. We recognize the importance of PaxSpace to our Southern Maryland community as a new opportunity to support our mission and to advance innovation, learning labs, and cutting edge technologies.
Therefore, The Patuxent Partnership and PaxSpace wish to enter into an Agreement whereby qualified individuals and organizations may donate funds to The Patuxent Partnership to be used for the benefit of PaxSpace. The Patuxent Partnership agrees to coordinate the transfer and/or disposition of such funds with the directors of PaxSpace. PaxSpace agrees to use such funds for the operations and growth of PaxSpace, its educational programs, and/or other initiatives agreed upon by PaxSpace and The Patuxent Partnership. The Patuxent Partnership will provide the required receipts and documentation to donors to allow donors to claim the deduction for charitable purposes to the extent allowed by law. PaxSpace will coordinate donations with The Patuxent Partnership and inform donors to send their tax-deductible contributions, made payable to The Patuxent Partnership with PaxSpace clearly identified in the memo field, to The Patuxent Partnership, Inc., 22335 Exploration Drive, Suite 1035, Lexington, Park, MD 20653.
This Agreement is effective as of the last date of signature below and shall terminate on December 31, 2014, unless terminated earlier by either party with 30 days written notice. This Agreement may be extended by the mutual agreement of the parties.