Page 25 - 2020 October Report

Resilience
Grant Program Committee minutes (draft) (2)
4. Discretionary and Matching grants/LOIs
a. The following Director Discretionary Grants were unanimously approved:
• Northwestern Ontario Women’s Centre
• Oakville Community Foundation
• Florida Baptist Children’s Home
• Santa Fe College
• Hardee County Education Foundation •
• The following Matching grants were unanimously approved:
• Fundy Community Foundation
• One More Child
• Palm Beach Atlantic University
• The King’s Academy
• Paden City Foundation
• Paden City Foundation
• Eye to Eye
• SendMeMissions
b. Letters of Inquiry
$10,000 $ 5,000 $ 5,000 $ 5,000 $ 1,500 $ 1,500 $ 1,000 $ 1,000
$25,000 $25,000 $20,000 $13,000 $ 5,000
A list of LOIs and responses had been circulated. There has been a marked increase in the number of submissions, which led to a discussion about whether a grant minimum, such as $50,000, should be listed on the website. The website already includes a list of things that JSF does not fund, such as capital projects. Staff will explore the option of including a grant minimum and report back to the Committee in December.
5. Budget Items
a. Grant Distribution Plan
The 2022 Grant Distribution Plan and 5-year projections had been circulated. Dick explained that the Estimated Distribution Requirement decreased by about $30,000 to $11,166,669 as of September 1 based on the 2021 asset returns.
A motion was made and seconded to award thank-you grants in the amount of $10,000 each to Weingarten Children’s Center and Sonoma State University. These organizations were scheduled to host the Committee and Board for site visits over the next 2 days.
The Committee approved thank-you grants of $10,000 each to Weingarten Children’s Center and Sonoma State University.
b. 5-year grant projections
Dick reported that the Estimated Distribution Requirement is projected to decrease in 2023 and 2024 before increasing again in 2025 and 2026. If the grants under consideration at this meeting were approved, the uncommitted funds for 2022 would total $84,203.
Because of current market volatility, it was suggested that the current method of using 5% plus the average Consumer Price Index for the prior 5 years might not be the best for budgeting in the future. Staff is to reach out to Prime Buchholz for suggested methodology.
The Committee approved the 2022 Grant Distribution Plan and the 5-Year Projections as presented.
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