Michigan Compiled Laws, Chapter 324. Natural Resources and Environmental Protection § 324.74304

(a) Determine those projects or undertakings for which the foundation will solicit funding. In determining projects to fund, the foundation shall select projects that enhance the use, preservation, enjoyment, or understanding of the natural and historic resources of the state parks through the following focus areas of need:

(b) Maintain a current list and description of projects for which contributions are sought.

(c) Provide for methods by which persons who contribute to the foundation projects may be commemorated for their contributions.

(d) Advise potential contributors of all tax ramifications of contributions to the foundation.

(e) Invest assets of the foundation in any instrument, obligation, security, or property considered appropriate by the executive board of the foundation.

(f) Provide for receiving contributions in lump sums or periodic sums.

(g) Administer money collected by the foundation.

(h) Segregate contributions to the foundation into various accounts.

(i) Procure insurance against any loss in connection with the assets of the foundation or foundation activities.

(j) Enter into contracts on behalf of the foundation.

(k) Define the terms and conditions under which money may be disbursed by the foundation.

(l) Contract for goods and services and engage personnel as is necessary and engage the services of private consultants, actuaries, managers, legal counsel, and auditors for rendering professional, management, and technical assistance and advice, payable out of any money of the foundation. However, not more than 10% of the money of the foundation shall be used for the purpose of this subdivision or other administrative costs of the foundation.

(m) Exercise other powers necessary or convenient to carry out and effectuate the purposes, objectives, and provisions of this part, and the purposes of the foundation.