What Is The Purpose Of Matchstick Program?

What Is An Agency Endowment?

What Is The Matchstick Program?

What Are The Grant Guidelines?

What Is The Application Process?


WHAT IS THE PURPOSE OF MATCHSTICK PROGRAM?
The Community Foundation believes that one of the most strategic ways we can serve our community is to help agencies strengthen their funding bases--so that you can reliably deliver vital services and enriching programs to our community.  We aim to build long-term partnerships with effective agencies ready to take advantage of this opportunity.  This program can help build a perpetual source of unrestricted funding for your organization, while increasing the number of people supporting your mission and the depth of supporters' commitment to your cause.

WHAT IS AN AGENCY ENDOWMENT?
Agency endowments are funds established to benefit a particular non profit organization in Bloomington/Monroe County. Gifts made to the fund remain a permanent asset at the Community Foundation designated to support your organization. This permanent pool of assets generates income and typically grows over time. It is designed to provide a stable source of revenue as part of your funding mix.

Fund distributions can be utilized for your agency’s operations in many ways: administrative costs, including salaries, capital projects, emergency needs such as funding shortfalls, and new opportunities that arise from time to time. In addition, you have the Community Foundation as a partner in philanthropy.

WHAT IS THE MATCHSTICK PROGRAM?
Launched in 2006, the Matchstick program offers a 1:3 match ($1 from the Foundation for every $3 donated to a participating agency endowment). The first three phases (2006-08) of Matchstick have resulted in more than $450,000 in contributions and matching monies. The application deadline for 2011 (Phase VI) is noon on Oct. 15, 2010.

* Agencies entering into the Matchstick grant program will be required to start an endowment fund (if they do not already have one)

* All gifts (donations) for that agency will be deposited into an endowment fund established in their name.

* Match monies will be set aside for the agency and will be deposited into the endowment fund when goal is met.

* Financial Accounting Standards Board rules require that all Matchstick gifts be made payable to the Community Foundation of Bloomington and Monroe County, 101 West Kirkwood Ave., Suite 321, Bloomington, IN 47401. The Community Foundation handles all gift processing, gift and tax acknowledgement to the donor and sends monthly endowment progress reports to each participating agency.

* If an agency does not meet its goal, all gifts will remain in the agency endowment fund.  If the balance of the fund is not at the minimum $10,000 endowment level, the agency will have five (5) years to increase the fund balance to the minimum $10,000 endowment level.

* If goal is not met by the December 31 deadline, no match will be received.  Match monies set aside for that agency will go back into the Matchstick grant and be distributed in later phases of the Matchstick grant program

* If the agency exceeds its goal, the 1:3 matches will be made to the goal only. 
However, all gifts over goal will be deposited into the agency endowment fund.

* All gifts accepted as per Community Foundation gift policies.  Gifts must be “new” money (no agency reserves or current holdings) in order to count toward the goal for matching.  Gifts of property may be accepted (per Community Foundation gift policy) and will be gifted and matched at appraised value.  However, the actual net proceeds after sale of the property will be deposited into the agency endowment fund.  Stocks may be accepted (per Community Foundation gift policy) and will be gifted and matched at the mean value on the date gifted.  Again, the actual net proceeds of the stock sale will be deposited into the agency endowment fund.  Pledges, gift annuities and other planned gifts will count towards the Matchstick grant program only if they are deposited by the December 31 deadline. 

* All participating agencies will be required to sign a participation agreement (contract)

* All participating agencies will be strongly encouraged to have board members and staff participate in training sessions periodically sponsored by the Community Foundation.

* Development support will be offered to all participating agencies in the form of training sessions, progress reports, publicity for the program, access to a coach to assist with your agency's strategies (at a nominal cost), marketing materials and a stewardship event for your volunteers and donors.

WHAT ARE THE GRANT GUIDELINES?
Eligible organizations must be non-profit 501(c)(3) organizations, serve the general public in Monroe County, Indiana, and be prepared for an endowment campaign. As with other grants from our unrestricted endowment, religious organizations are eligible to apply if programs do not promote religious doctrine or instruction and if eligibility for your agency's services is not limited on the basis of religious belief or practice. Please use the Assessment/Application for determining if your agency is ready for an endowment campaign.

WHAT IS THE APPLICATION PROCESS?
To simplify the process, the Grantmaking Committee will use your completed Agency Endowment Assessment as your application form, along with some of the attachments requested on that form.  Please click the torch icon below for the assessment form. You will also need to submit: 

* 501 (c)(3) Determination Letter from the IRS

* Most recent annual budget and 990

* Resolution from board