RECOMMENDING A GRANT

How much can I grant and when?

Endowed Funds:

Annually, you can grant up to four percent (4%) of the total value of your Fund, as long as this calculated amount doesn’t “invade the principal” when it is deducted from the total value of the Fund. The “Available to Spend” calculations are made for the Endowed Funds at the end of each fiscal/calendar year. You can plan to make grants (up to your 4% limit) at any time during the upcoming fiscal/calendar year. As the total value of your Fund grows, so will the amount available to spend on grants increase.

Example:

1. Your Fund value as of 31 December 2006 is $114,456.90
2. The Principal (establishing and all gifts made) is $95,483.50
3. Four percent (4%) of $114,456.90 is $4,578.28
4. $114,456.90 (Fund value) minus $4,578.28 is $109,878.62
5. Because $109,878.62 is greater than $95,483.50, the principal is not “invaded”
6. You can make up to $4,578.28 in grants during the current fiscal year

Non-Endowed Funds:

There is no limit on the amount of money you can grant during a fiscal/calendar year. The amount available to spend depends on your Fund balance and gifts received. As long as money remains in your Fund to cover the annual Administrative Fees (as indicated in your Fund Agreement), you may make grants during the year.

Grant Recommendation Form