JSEF announces $200,000 Endow-A-Thon for LGBA Member Organizations!
Post date: Nov 8, 2014 4:22:20 AM
On November 7, 2014 at the LGBA conference in Ft. Lauderdale, the Jon Sims Endowment Fund presented a workshop entitled “How to preserve and protect your Band's long-term financial future.”
The highlight of the JSEF workshop was the announcement of the “$200,000 Endow-A-Thon.” Under this bold, new program, LGBA member organizations (and LGBA itself) can earn a matching grant of up to $5,000 when they invest the same amount in newly endowed funds. Not only that, the first 10 LGBA member organizations that reach the maximum matching amount of $5,000 are eligible to receive ANOTHER $1,000 in matched funds when they invest an additional $1,000. All told, the Jon Sims Endowment Fund is pledging up to $200,000 of its own funds to convince LGBA member organizations to set up their own accounts with endowed funds. This offer expires December 31, 2015.
Here are some highlights of the $200,000 Endow-A-Thon:
- Get up to $5,000 in matching funds
- 10 bands can earn up to $1,000 in ADDITIONAL matched funds!
- All LGBA member organizations are eligible, if they have IRS 501c3 status.
- Offer good through December 31, 2015.
- Up to $5,000 in new funds will be matched by JSEF.
- The first 10 bands to endow the full $5,000 will also become eligible to earn a bonus of up to $1,000 matching funds for a total of up to $6,000. In this case, if your band endows $6,000, JSEF will match that amount.
- All LGBA member orgs (with 501c3 status) are eligible, including those which already have endowed funds, and LGBA itself.
- The minimum opening contribution is $1,000.
- Funds will be matched within 30 days after funds are received by JSEF.
- JSEF invests and manages your endowed funds. The investment earnings will be available to bands through the standard JSEF grant application procedure.
Here are a few examples to illustrate how this matching program works:
BAND "A" endows $4,000 before 12/31/15 - JSEF contributes another $4,000
BAND "B" endows $5,000 before 12/31/15 - JSEF contributes another $5,000
BAND "C" endows $6,000 before 12/31/15 and is one of the first 10 bands - JSEF contributes $6,000
BAND "D" endows $5,500 before 12/31/15 and is one of the first 10 bands - JSEF contributes $5,500
BAND "E" endows $8,000 before 12/31/15 and is one of the first 10 bands - JSEF contributes $6,000
HOW TO GET STARTED?
If your organization is ready for the $200,000 Endow-A-Thon, please complete and submit the form below. You may also contact the Jon Sims Endowment Fund via e-mail at email@example.com or visit the Contact Us page. Explain your situation and tentative plan and you will receive a response from a JSEF officer very quickly. We understand that every organization and investment situation is unique and we will work with you to craft a plan that suits your needs.
Write to firstname.lastname@example.org or visit the Contact Us page.
A few additional notes regarding this program:
- If an LGBA member band should decide to leave LGBA, they will forfeit all the matching endowed funds from the JSEF, including increased value of those endowed funds.
- However, they can transfer the remaining funds (the market value of their own endowed funds plus the increased value of their own contributions, plus any earned income on their endowed funds and the matching funds from JSEF) to another 501c3 organization of their choosing. This will be subject to the rules of their own 501c3 bylaws.
- If a participating member band should lose their 501c3 status, the market value of the matching endowed funds from the JSEF shall revert back to the JSEF.
- The investment earnings for participating LGBA member bands will be available through the standard JSEF grant application procedure (the form is available on this web site).
- Reminders will be periodically sent to eligible LGBA member bands about the remaining time to take advantage of this matching offer.
- Because JSEF funds are invested in the stock market, these investments are not insured or guaranteed, and the value of the invested funds may decrease as well as increase. Past performance is not an indicator of future performance.