ALL grant recommendations require the final approval by SCF Board of Directors. Our Board meets almost every month, except in January, to consider and approve requests received. To allow time for processing, we ask that Fundholders submit their SCF Grant Request Form at least five (5) business days prior to each Board meeting.
Donors/fund holders may request information about their Fund, their Fund balance, or the amount available to grant, at any time. Any changes in legislation, or IRS procedures and policies, are sent to fundholders as soon as possible, and before they are implemented by law. SCF in-house grantmaking processes are amended to reflect these changes, and action is taken to notify our Fundholders.
GRANTS FROM NON-SCHOLARSHIP FUNDS
Only the donor/fundholder of record is permitted to recommend grants from his/her Donor-Advised fund. We follow a stringent, in-house procedure that governs our grantmaking process.
GRANTS FROM SCHOLARSHIP FUNDS
Only the donor/fund holder of record may authorize scholarship award disbursements from his/her scholarship fund. In compliance with recent federal legislation governing scholarships administered by community foundations, we follow precise selection, award, and processing procedures. If you have questions about the steps listed below, selection criteria, or award payments, please contact the Foundation.
HOW MUCH CAN I GRANT AND WHEN?
For Endowed Funds: Using the SCF current Spending Policy (SP) Fundholders may request disbursement of one or more grants annually, up to 3.7% percent of the total Fund balance. However, the amount requested is made from the Fund's earnings and may not “invade the principal” of the Fund balance. The principal balance is also know as the permanent fund balance, the acrual of gifts received.
The “Available to Spend” or ATS amount for the Endowed Funds are calculated at the end of each fiscal/calendar year using the current Spending Policy percentage, based on a trailing 12-quarter average fund balance. As the total Fund balance (asset value) of your Fund grows, so to will the amount available to spend on grants increase.
For Non-Endowed Funds: There is no limit on the amount of money that may be granted during a fiscal/calendar year. The amount available to spend depends on your current Fund value (balance), including gifts received but not yet posted. As long as current year Community Development fees (administrative fees) have been paid in full, (as per each Fund Agreement), one or more grants may be recommended for disbursement at any time during the year.
SCF routinely provides information to our fundholders about community needs. This includes referencing new material posted on our website, letters to all donors during the year summarizing requests we have received for grants, and invitations to meetings and workshops that we conduct and facilitate.