Who "owns" our project's computer and equipment?

Projects often have to make large capital expenditures to acquire equipment (including laptops, computers, monitors, keyboards, printers, etc.), furniture, and other needed fixed assets. All of your project’s assets, whether acquired as donations or through capital expenditures, become and remain the property of Community Partners for the benefit of your project. If your project separates from Community Partners, ownership of those assets are transferred to the successor 501(c)(3) organization, subject to the approval of the Community Partners Board of Directors as the fiduciary body responsible for the charitable expenditure of organizational funds.