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| Standard Name: | Church and Project Fund Standard |
|---|---|
| Relevant Standard: | Grant-Making Standard |
| Creation Date: | 8/23/2023 |
| Last Review Date: |
Purpose
Provide guidance on establishingproject and church funds.
Scope
This standard applies to all church and project funds.
Policy Supporting This Standard
Standard Statement
The Reliant Board of Directors delegates Reliant leadership the authority to approve
Standard
Standard Statement: The Reliant Board of Directors designates Reliant leadership to approve restricted church and project funds to further Reliant’s tax-exempt purposes by establishing these new funds based on the criteria parameters , in a matter compliant with applicable laws and regulations and according to the requirements outlined below. The The Reliant board will approve any funds deemed necessary.Project and Church Fund Approval Criteria Parameters: Partnership, Purpose, Projected Amount The Program Team will oversee all church/project fund requests, including approvals and submission and finalizing fund setup.
Partnership:
All
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church and project funds must be vetted first by the Program Team lead to confirm the church/ministry partnership with Reliant and to confirm that this request is one that they believe Reliant should move forward on.
A partner does not need to have workers or volunteers associated with Reliant in order to create a project fund. Any church/ministry may become a partner with Reliant with the sole purpose of project fundraising.
Purpose:
Unrestricted Church/Project Fund: The Program Team will
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review and approve every unrestricted church and project fund request as the sole purpose of these designated funds (accounts) is to absorb leftover funds (money) from exited staff that were a part of their church/ministry (typically for residencies/internships) and use those funds to help support other staff at the same church/ministry who need assistance with raising support.
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Purpose:
Restricted Church/Project Fund:
The Director of Organizational Affairs will review for approval every restricted church and project fund request to confirm the purpose of the fund is in alignment with Reliant's tax-exempt purpose. If secondary approval is deemed necessary by the Director of Organizational Affairs, it will be sent
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to the Chief Financial Officer.
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If the purpose varies too greatly from the normal purpose requests or from Reliant's original tax-exempt purpose, board approval may be deemed necessary
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.
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Projected Amount:
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The Director of Organizational Affairs will also confirm that the proposed budget categories included on the restricted church/project fund request for fund distribution through grants are in alignment with the fund purpose given.
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Projected Amount:
Required approval related to
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the projected amount of the church/project fund is as follows:
- Funds projected to receive under $25,000 annually are approved by the Director of Organizational Affairs & Treasurer.
- Funds projected to receive between $25,000 and $100,000 annually require approval from the Director of Organizational Affairs & Treasurer and the Chief Financial Officer.
- Funds projected to receive over $100,000 annually require approval of the Reliant board. The Director of Organizational Affairs & Treasurer will create a request for board submittal.
- .
Reliant does not hold the fund to this pre-approved projected amount, it is simply used as a boundary for initial approval of the fund.
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Approval:
All approvals
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All approvals (based on purpose and projected amount parameters including approval from the Reliant board ) must be received prior to church/project fund creation.
The Reliant Board of Directors desires to issue financial ministry grants to other organizations to further Reliant’s exempt purposes and for use with programs not conducted directly by Reliant. Reliant leadership will review and determine whether to approve grant requests.
Project funds whose sole purpose is to fund Designated Grantees will not be officially created until the Designated Grantees associated with the fund have been approved.
Approval authorizes the solicitation and receipt of any funds for the approved recipient’s projects. Designated contributions generally will be honored, but Reliant shall retain full discretion over the ultimate expenditure or use of those contributions and retains the right to discontinue funding at any time.
Related Links:
- Requesting a Restricted Church or Project Fund - Program Team Instructions
- Requesting a New Unrestricted Church Fund - Program Team Instructions
- Reliant will refuse any grants that are requested, if it determines that the grant will not further Reliant’s exempt purpose.
- Reliant grants cannot be used for any purpose other than those approved by Reliant.
- Reliant may approve charitable grant requests after reviewing all relevant information to determine whether the uses of funds by teh proposed recipient is consistent with Reliant’s tax-exempt purposes.
- Except in extenuating circumstances as determined by the Board, grant requests involving monthly, annual or other periodic payments will normally be approved for a maximum of five years from the date of grant approval. If the grantee requires additional funding for the grant project after the grant expiration date, a new grant application must be submitted.
- Grant administration and control procedures will vary based upon grant materiality (amount and significance), the nature of the grant recipients’ operations, and the nature of the relationship between Reliant and the grant recipient.
- Reliant will require periodic accounting of the usage of the grant funds.
- Reliant retains the right to withdraw approval of a current grant or to receive a refund of any unexpended grant funds.
- Reliant grants cannot be used to cause any private inurement or improper private benefit to occur.
- Reliant will not act as a conduit of funds for any recipient. Gifts received by Reliant that will be used for grants, will be accepted in accordance with Reliant’s gift acceptance policies and for Board approved purposes.
- Grant recipients may be related or unrelated organizations and may be domestic or foreign. Reliant will take reasonable steps of due diligence to insure that it is not otherwise assisting known or suspected terrorists though its foreign grant-making process. This would include the checking of applicable governmental lists provided and maintained by the U.S. Treasury Department.
- Grant funds received by the recipient may only be disbursed to other organizations or individuals in a manner consistent with recipient’s grant agreement with Reliant and pursuant to a written agreement with the ultimate recipient of the funds that ensures full compliance by the ultimate recipient with the grant purposes and the requirements of the policies and procedures.
Grant Approval
- One-time grants require approval for each submission. Except in extenuating circumstances as determined by the Board, grant requests involving monthly, annual or other periodic payments will normally be approved for a maximum of five years from the date of grant approval. If the grantee requires additional funding for the grant project after the grant expiration date, a new grant application must be submitted.
