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KBLX 102.9 FM Radio Weekend Tip! What are MOUs and Why do Nonprofits use them?

MOUs (Memorandums of Understanding)

Memorandums of Understanding – MOUs are Nonprofit formal gentlemen agreements just shy of a formal contract MOUs are visible and responsive partnership agreements that define a joint endeavor between one or more partiesParties demonstrate administrative and management commitment MOUs have defined goals and objectives with a framework for achieving specific activities and services MOUs have Commitments by all parties to provide financial, material and labor resources to assist with the agreed upon project Why an MOU?  Because there are some agreements that can be made without requiring a formal contract and are compliant and beneficial to the spirit of partnership

Researched Definitions and links:

“It expresses a convergence of will between the parties, indicating an intended common line of action. It is often used in cases where parties either do not imply a legal commitment or in situations where the parties cannot create a legally enforceable agreement. It is a more formal alternative to a gentleman's agreement.”  

“Memorandum of Understanding identifies the common goals, responsibilities and anticipated contributions to a future project or joint endeavor. A Memorandum of Understanding does not create a legally binding obligation for either party. A Memorandum of Understanding may be used to clarify the agreement of parties on certain aspects of a project while negotiations continue in regards to the remaining terms of the agreement. It is the anticipation that the parties will work to finalize negotiations and complete a Contract or Agreement which will then become binding upon the parties. This Memorandum of Understanding identifies the project being completed, the services each party will provide and the financial, material and labor contributions.” https://www.rocketlawyer.com/secure/interview/new.aspx?id=1708&utm_source=103&try=1&v=3&gclid=CMv5jK_s_bQCFUdxQgodzX8A9g#q1    

“A Memorandum of Understanding (MOU) is a document that describes or provides a framework for a potential agreement between two or more parties. This Memorandum of Understanding can be used to provide a successful framework for future undertakings between two or more parties.” http://premium.docstoc.com/doccomplete?docId=130399721&pr=t&utm_source=google&utm_medium=cpc&utm_term=Memorandums%20of%20understanding&utm_campaign=completion_pre&gclid=COeN4LPt_bQCFSXZQgodDF0Akg#   Sample MOU - http://www.ovw.usdoj.gov/docs/sample-mou.pdf  

2 Comments to KBLX 102.9 FM Radio Weekend Tip! What are MOUs and Why do Nonprofits use them?:

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wenger swiss on Wednesday, January 07, 2015 5:14 AM
Hey very cool site!! Man .. Beautiful .. Amazing .. I'll bookmark your blog and take the feeds also�I am happy to find so many useful info here in the post, we need develop more strategies in this regard, thanks for sharing. . . . . .
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bid4papers review on Wednesday, August 15, 2018 3:18 AM
I think that “MOU” is the best contract between a company and vendor and also with its help nobody will be in loss. I literally don’t know about this but after reading this article I came to know everything about it so thanks “Lenora Williams” for sharing this article.
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