Fund Policies and Procedures
How to Recommend a Grant
Grant recommendations may be made by any person designated to make a recommendation (e.g. donor advisors, additional advisors or successor advisors). Successor advisors are only allowed to make grant recommendations as defined in the fund agreement.
Staff at The Foundation will work with you to facilitate the grant recommendation. We require the name, address, phone number and point of contact of the charity receiving the grant. The Foundation will undertake its own due diligence procedures to ensure the recipient organization is a qualified charity. In addition, all grant requests must be approved by the The Foundation board of directors. The Foundation will send payments directly to the charitable organization, not to or through donors or designated advisors.
The purpose of The Community Foundation for McHenry County’s grant opportunities is to move forward in our mission of “connecting people who care with causes that matter” by supporting the charitable organizations that provide vital community resources to the residents of McHenry County.
Grant opportunities are available to charitable organizations that fit the following criteria:
- 501(c)(3) public charities in good standing in the state of Illinois.
- Units of local government.
- Not-for-profit educational institutions.
- Faith-based and religious organizations are eligible.
The minimum grant size is $500. There is no limit on the number of grants that can be made from a fund, so long as the fund has sufficient assets.
A fund may not be used to make grants that personally benefit a donor or an advisor or satisfy a pledge obligation of the donor or advisor, e.g., a grant cannot be used to pay membership fees, dues, tuition, purchase tickets for a benefit or purchase items at a charitable auction or sweepstakes. The fund may not be used to split payments to a fundraising event (a “bifurcated grant”) e.g., paying the non-charitable portion individually and the deductible portion from the fund. Pursuant to the Internal Revenue Code, The Foundation will not approve grants to individuals, private non-operating foundations, political candidates or parties or for lobbying purposes.
Donors may choose from a variety of recognition levels:
- Reference the fund name only
- Reference the fund name and individual names
- Recognize “in honor of” or “in memory of” an individual
- Remain anonymous
Fees support fund and grant management, investment oversight and reporting as well as the general operations of The Foundation. Administrative fees are 1% annually, and may vary depending on the type of fund. For more information regarding fee structure, please contact The Foundation.
Statements will be mailed to you quarterly to keep you apprised of your fund’s status. These statements will reflect a summary of fund balances, investment allocation, contributions to the fund and grants made from the fund.
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