The Wolves Foundation

1. Formation

The Wolves Foundation (the "Foundation") was established in November 2025 as a restricted fund of GSI Events Ltd ("GSI"). The Foundation will not be a separate legal entity but will operate as a designated fund under the governance, oversight and financial controls of GSI Events Ltd. GSI shall hold and administer the fund, applying the assets strictly in accordance with the terms set out herein. The Foundation's name, purpose, and governance framework shall be clearly documented and publicly disclosed as appropriate to satisfy regulatory guidance.

2. Purpose

The sole purpose of the Foundation shall be the development, support, and subsidy of players participating in the activities of West Lothian Wolves Basketball Club. All monies held in the Foundation shall be used exclusively for this purpose and for no other. The advancement of sport for young people and adults engaged in the West Lothian Wolves framework shall qualify as charitable for the public benefit.

3. Terms of Reference

1. The Foundation's funds shall only be expended on grants, subsidies, or support (including equipment, training, travel, competition, and membership fees) for eligible players of West Lothian Wolves, in accordance with criteria approved by GSI's Director.
2. The funds shall not be diverted to any other activities, purpose, club, organisation, or individuals outside the defined player-development remit of West Lothian Wolves.
3. GSI shall maintain distinct accounting records for the Foundation fund, ensuring transparency, auditability, and separation from general corporate finances.
4. GSI's Director (or a committee thereof) shall review annually the criteria for eligibility, governance arrangements and performance of the fund. Any changes must preserve the restricted nature of the fund.
5. The Foundation shall adhere to relevant law and guidance, ensuring that its objects are clearly stated, its funds applied for public benefit and its governance and policies reflect best practice.

4. Governance & Reporting

GSI shall oversee the Foundation. The Director of GSI will approve the funds budget, set the criteria for the subsidy/support scheme, monitor expenditure and ensure accountability. Annual reporting shall disclose the funds receipts, allocations, and impact supporting the West Lothian Wolves players.

5. Amendment of Terms

The Director of GSI may occasionally review and amend these terms of reference, provided that any amendment does not alter the restricted purpose of the fund or permit any diversion of assets to alternate uses.