Special-Purpose Endowments

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Special-Purpose Endowments

Endowment accounts designated to support youth shooting sports through multiple initiatives.

MidwayUSA Foundation’s Special Purpose Endowments are an expansion of Larry & Brenda Potterfield’s enduring philanthropy in support of youth shooting sports.  In addition to the need for funding, every youth shooting sports team needs trained coaches and a decent shooting range to practice and compete. To address those needs, the Potterfields have established and are financially supporting the Coach Training Fund (FR16459) and the Range Development Fund (FR16460).  These special-purpose funds are restricted endowments that will award competitive grants, when they are sufficiently funded, based upon criteria set by the Potterfields and approved by the MidwayUSA Foundation Board of Directors. The Board of Directors may award grants from the special-purpose endowments at its discretion, within the criteria set for each fund.

The MidwayUSA Foundation Board of Directors and Larry & Brenda Potterfield invite everyone interested in helping them grow these special-purpose endowments to donate to one or both of the funds.  Your generous donation(s) will help provide coach training and/or range facilities to youth shooting athletes, forever.  Together, we can change the future of youth shooting sports!

Coach Training Fund (FR16459)

Grants from the Coach Training Fund shall be limited to one per recipient annually, and the recipient must be a State or National Organization with a MidwayUSA Foundation endowment. Grants are authorized for organizations to train team coaches or coach trainers and are limited to $5,000.

Range Development Fund (FR16460)

Grants from the Range Development Fund shall be limited to one per recipient annually. Grants are authorized to fund improvements or expansions of existing ranges that enhance and grow the number of youth participating in the shooting sports. Funds cannot be used to buy land or fund the costs of establishing a new range facility. This is not to say that funds cannot be used to create an addition to an already existing range. Grants must be limited to no more than 50% of the total cost of the expansion not to exceed $75,000.

Donations

MidwayUSA Foundation is a qualified public charity, exempt from Federal and State income tax under Section 501(c)(3) of the Internal Revenue Code.  Donations are tax-deductible under Section 170 of the Code. Donations made to the Coach Training Fund (FR16459) and the Range Development Fund (FR16460) are restricted as indicated above and the property of MidwayUSA Foundation, under the control of the Board of Directors. Please see specific information related to contributions in our donation policy at https://www.midwayusafoundation.org/policies/.

The MidwayUSA Foundation does not charge any fees for endowment account donations.  Therefore, the Foundation credits 100% of each donation to the selected fund.

Matching Funds

Donations to the Coach Training Fund (FR16459) and the Range Development Fund (FR16460) do not qualify for matching because the funds are already substantially supported by Larry & Brenda Potterfield, the source of our matching funds.

Investment Earnings

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.  Due to fluctuations in the investment market, endowment account earnings may be positive or negative.  The MidwayUSA Foundation posts earnings to all endowment accounts quarterly.

Additional Information about Special-Purpose Funds

You are welcome to contact Jay McClatchey, Chief Operating Officer, for more information on our special-purpose funds.  You can reach Jay at (jmcclatchey@midwayusafoundation.org) or 573-447-5992.

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