Stern Nonprofit Endowment Challenge
The Nonprofit Endowment Match of the Stern Legacy Challenge matches new gifts into existing nonprofit endowments held at AAACF at 50% up to $50,000. In total $500,000 of the $16.2M from Helmut will be allocated to many nonprofit endowments that will be distributed in perpetuity to support these organizations. Matching current new gifts for nonprofit endowments ($.50 match/$1 gift) enhances these fund balances, encouraging annual distributions for a nonprofit’s fund to be greater now and in the future—thus honoring Helmut’s intentions for strengthening the local nonprofit sector.
Overview of Structure and Answers to Frequently Asked
Questions (FAQs) related to the Nonprofit Endowment Fund Challenge
- Only current, new gifts will be matched. Existing pledge
payments or new pledge commitments do not qualify.
- Gifts will qualify for matching starting August 1 and
will be matched as long as funds are available (starting with a half
million in match funds). On this Helmut Stern page of the AAACF
website, we will share regular updates on the matching funds and announce in
advance when the funds are near depletion and also when the match has
concluded. We strongly recommend agencies and donors to make gifts to
funds very early in this process, as demand appears to be very high.
- Only gifts to current nonprofit endowment funds existing as
of August 1 will qualify for matching. See this list of nonprofit endowment funds.
- Gifts can be made by check or via a credit card online. We will honor the postmark for checks that are mailed as the date
of the gift and the eligibility for matching funds. If we have announced that
the match has ended and a check is mailed after the fact, we will not be able
to match the funds once depleted.
- If you plan to make a gift of appreciated securities, please
alert our office right away so we track the gift for timely matching. If we do
not learn of a stock gift until it is received, which can sometimes take
several days, we may no longer have funds available to match it.
- Gifts can come from individual donors and a nonprofit
organization can also give to its endowment.
- The total in matching funds that a nonprofit can receive is
$50,000. That total can come from one source or many.
- The total that one donor can contribute to qualify for
matching funds is $100,000 (for a total $50,000 match). The $100K can be
directed to one or several nonprofit endowment funds.
- There is no paperwork needed for the match. AAACF will track
all gifts and alert the nonprofit once it has met its $50,000 match, as an
organization might not be fully aware of all gifts that are being directed to
it. We would hope donors would let a nonprofit know of their intentions in
advance, yet some donors may choose to give anonymously and independently to a
nonprofit endowment fund.
- If a nonprofit organization has more than one endowment fund
with AAACF, the $50K match total will apply to the organization regardless of
whether the funds are to each of its endowment funds or equally allocated.
- Donors with AAACF Donor-Advised Funds may choose to direct
grants from their funds. Contact our office with this request to be sure it is
recognized as a grant for the endowment match; please do not request support
for the challenge through the DonorView Portal.