Golden & District Community Foundation
GRANTS ALLOCATION POLICY
1.0
2.0
Granting Principles
1.1
The Foundation will only support agencies and organizations whose
projects benefit the communities within the geographical boundaries of
Golden and Area A or such other boundaries as may be established by
special resolution of the members.
1.2
Grants are made to support the purpose as stated in the Foundation’s
constitution and in accordance with the policies from time to time
approved by the Board of Directors (the Board)
1.3
Grants will be made only to qualified recipients as prescribed in paragraph
149.1 (1)(h) of the Income Tax Act.
1.4
The total allocations in any year will be determined in accordance with an
annual investment income distribution assessment, approved by the Board,
and will at least meet the minimum distribution quota in the amounts and
at the times as required by the Income Tax Act.
1.5
The final decision on all grants rests with the Board on the advice of the
Grant Committee.
General Granting Policies
2.1
The Foundation will make grants once a year.
2.2
As a basic guideline for grant making, the Foundation, with the assistance
of the Grant Committee, will each year establish priorities for support
based on an ongoing needs assessment and diversification of purpose.
2.3
Each year the Foundation, with the assistance of the Grant Committee,
determines the size and range of grants based on priorities and funds
available.
2.4
Grants will be awarded for those projects which fit the established
priorities and impact a significant number of people.
2.5
Individuals are not eligible for grants. Grants may only be made to nonprofit organizations that hold a Federal Income Tax number as a registered
charitable organization. Registration only as a non-profit society does not
qualify.
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3.0
2.6
Those organizations registered as a not for profit society must comply
with the Board’s policy on grant applications from organizations that are
not registered charities.
2.7
Grants are made only to organizations which demonstrate a strong and
committed board, fiscal responsibility and management qualifications.
2.8
Grants are awarded for definite purposes and for projects covering a
specific period of time. Multi-year grants are not available at this time.
2.9
Grants are paid out at the completion of the project once final reports are
approved. However a grant can be paid out at the start of the project if the
organization needs funds to get the project started; partial payments can
also be made so that an organization can complete the project. Conditions
how the grant will be paid out are outlined in the Letter of Agreement.
2.10
Grants for capital expenditures are considered. Funds may be held and
advanced when the project is deemed viable and when other funding
required is in place.
Specific Granting Policies
3.1
Grants are not made to support operating expenses of established
organizations or programs.
3.2
Grants are not made towards core operational expenses or capital deficits.
3.3
Grants are not made for retroactive funding or for any project expenses to
be incurred prior to the Foundation’s decision date.
3.4
Grants are not given to support annual fundraising campaigns, form letter
requests or telephone campaigns.
3.5
Grants are not made to establish or add to endowment funds.
3.6
Grants are not made for debt retirement, to provide reserves or for
mortgage pay-downs.
3.7
Grants are not made to fund sabbatical leaves or student exchanges.
3.8
Grants are not made to religious organizations for direct religious
activities.
3.9
Grants are not made to support the activities of ethno-cultural
organizations that primarily serve their members.
3.10
Grants for term support, sponsorship and travel expenses will not be
considered.
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4.0
3.11
Grants will not be made to cover salaries, but may fund contract fees for
specific projects.
3.12
Grants will not be made to fund projects for which the applicant has
sufficient internal resources.
Application Procedures
4.1
Applicants must complete and submit eight (8) copies of the Grant
Application Form attached as Appendix “A”, together with the
supplementary data listed.
4.2
The Grant Application Form must bear the signature of an authorized
director of the organization requesting the grant under a statement
indicating the board’s approval of the grant request.
4.3
Completed Grant Application Forms and supporting information will be
addressed to the GRANT COMMITTEE at the registered address of the
Foundation. Submission must be delivered in person or by mail/courier.
Fax and e-mail copies will not be accepted.
4.4
The deadline for the receipt of applications is determined annually. Late
submissions will not be considered.
4.5
The Grant Committee may request additional information following
review of the application and the information submitted.
4.6
Grants will be awarded at such times as determined by the Board.
4.7
Successful applicants will be required to sign, upon approval of the grant,
a Letter of Agreement whereby they undertake:
(i)
That the funds will be used only for the purpose indicated in the
application form and for which the funds were approved.
(ii)
That the funds will be expended for this purpose by the date shown
on the signed Agreement. Requests for project completion date
extensions can be made, in writing, by the grant recipient, and
considered for approval by the Grant Committee.
(iii)
That they will submit final reports to the Foundation within one (1)
month of the designated expenditure date demonstrating that the
funds have been appropriately expended; any unexpended grant
funds cannot be claimed. If the grant funds were paid out at the
start of the project any unexpended monies shall be returned to the
Foundation.
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(iv)
4.8
5.0
6.0
That the indicated financial need still exists and that the
organization did not receive alternate funding for the same
purpose.
Submission of a completed Grant Application will be considered evidence
of the applicant’s willingness to carry out the project as outlined in the
Grant Application, item 7, and signing the Letter of Agreement evidence
of the applicant’s acceptance of the terms of receiving the grant.
Allocation Principles
5.1
Allocations will be made only to qualified recipients as prescribed in
paragraph 149.1(1)(h) of the Income Tax Act.
5.2
The total allocations in any year will be determined in accordance with an
annual investment income distribution assessment approved by the Board
and will at least meet the minimum distribution quota in the amounts and
at the times as required by the Income Tax Act.
5.3
The final decision on all allocations rests with the Board
Designated Discretionary Funds Policies
6.1
The Foundation will distribute allocations once a year.
6.2
Allocations will be made in accordance with the designation specified in
the donor’s fund agreement.
6.3
If a designated recipient agency ceases to exist, or significantly alters its
purpose, the Board will designate an alternate agency with a similar
purpose or mandate to receive allocations from the fund.
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