We help organizations with similar missions build financial stability too.
An Agency Endowment is available to a non-profit organization that meets two key criteria:
- has a mission that aligns with MidwayUSA Foundation’s mission
- the Foundation believes it is beneficial to the future of youth shooting sports within its respective footprint (area of influence)
The four most common questions we receive regarding Agency Endowment Accounts are about how to start one, donations, investment earnings, and grants. Below is information on those topics and we welcome any additional questions you may have regarding an Agency Endowment Account.
How to Start an Agency Endowment
An organization must request to open an Agency Endowment Account by contacting us. We will work with the organization to determine if an Agency Endowment is a good fit. If so, the organization is offered an Agency Endowment Fund Agreement that must be completed, signed, and returned to the Foundation. Once approved, the endowment will be created.
The MidwayUSA Foundation does not charge any fees for endowment account donations. Therefore, the Foundation credits 100% of each donation to the Agency Endowment.
Our Agency Endowments now have a Matching Program to match donations made to their organizational endowments. For the year, we have $175,000 in general matching funds, personally donated by Larry and Brenda Potterfield. These matching funds will be available for both Agency and Donor Designated Endowments. At the end of 2020, we will determine the ratio of the match based on total contributions to all Agency and Donor Designated endowments. Any organization receiving a donation to their endowment, this year, will be eligible to receive a match.
For Example: If we receive $200,000 in contributions, cumulatively for Agency and Donor Designated endowments, every dollar will receive a $.875 match.
Partner organizations with an Agency Endowment that help us increase team engagement will be eligible for additional matching dollars. Like the matching ratio, we will have another $200,000 in endowment funds available for organizations that reach 50% team engagement in their area of influence. If you need additional details on this program, please email firstname.lastname@example.org.
The MidwayUSA Foundation Board of Directors takes its fiduciary responsibility very seriously and has developed a robust investment portfolio, focused on long-term growth, with world-class guidance from Goldman Sachs. The Foundation does not currently charge any fees. Therefore, MidwayUSA Foundation endowment accounts receive 100% of the investment earnings made by the Foundation. Due to fluctuations in the investment market, account earnings may be positive or negative. The MidwayUSA Foundation posts earnings to all endowment accounts quarterly and Agency accounts receive quarterly statements.
Agency Cash Grants
Sustainable funding provided through annual cash grants from an Agency Endowment is intended to benefit the organization’s youth shooting program(s) and activities. How the organization can spend grant funds is relatively flexible if all grant expenditures are directly beneficial to the organization’s youth shooting program(s) and activities, and within the guidelines set forth in the Agency Endowment Fund Agreement.
Agency Endowment Accounts have individual grant cycles that do not align with the two team grant cycles. The MidwayUSA Foundation will notify each organization via email when it is eligible for a grant. The first grant application is sent the month after the endowment has been funded for one full year, and then annually thereafter. The Foundation will pay an Agency grant the month after the grant application was issued if the organization submits all requested documentation in a timely manner. The Foundation starts the grant cycle “clock” for each endowment account the first of the month following receipt of the first donation.
The maximum annual grant is 5% of the Agency Endowment’s average monthly balance over the most recent 12 months. Included with each grant eligibility notification are an account statement and the calculated grant payout. The organization must complete the grant request through MidwayUSA Foundation’s online grant system and provide additional documentation, as requested, to receive a cash grant.
An organization may change its annual cash grant cycle to better suit its business needs. To change an organization’s grant cycle, you must contact the MidwayUSA Foundation and request a new grant date that is at least 13 months past the most recent grant.