Philanthropy is easy with a little help from your friends at the McHenry County Community Foundation. Become a philanthropist through the Foundation. Small amounts, given regularly create a sustainable fund for giving in the county. If each of us gives a little, it becomes a large, useful, ongoing fund with measurable impact on the betterment of our county.
What is GIVE360?
Launched in 2015, GIVE360 is designed to encourage philanthropy in a new group of donors utilizing the idea of collective giving. The program unites and informs emerging philanthropists to make a collective impact on McHenry County. This innovative program allows members to pool their dollars and, for less than a dollar a day, make a positive impact on our community.
How does GIVE360 work?
GIVE360’s unique membership model directs donor’s gifts evenly into two distinct areas: a giving pool and an endowment. Each year, 50 percent of the funds collected will be placed into the giving pool and will be distributed to nonprofit agencies and programs across the county through a collective vote. Each member of the GIVE360 Fund will receive one vote per year. The remaining 50 percent of the funds collected each year will be placed into the GIVE360 Endowment Fund – which may also be supplemented by direct gifts from outside donors – and each year will provide an additional payout to the giving pool at a rate of 5 percent of its balance.
What is an Endowment?
An endowment fund is established to fund a particular purpose – in this case, the GIVE360 Endowment Fund provides dollars to the giving pool of the GIVE360 Program. Think of an endowment fund as a savings account which can never be touched. Only the annual interest from the fund, or in some cases only a portion of the annual interest, can be spent. That permanent savings account will continue to grow over time, either by unspent interest or additional contributions. It is a powerful way of giving that lasts forever.
How can I become a member of GIVE360?
Anyone can become a member of GIVE360 by making an annual gift to the GIVE360 Fund of $360 – less than $1 per day. This gift can be paid monthly, quarterly, or all at once.
NOTE: Individuals may join GIVE360 at anytime during the year, but only monies actually collected at the end of that fiscal year will be included in the totals for distribution through the giving pool and the endowment fund.
Is it a one-time / one-year gift to be a member of GIVE360?
It is an annual gift. So if you become a GIVE360 member in 2015, you will have to renew your membership with another $360 gift in 2016. You will be a voting member of GIVE360 for each year in which you are a member.
How do I make my gift to GIVE360?
You can make your gift either by check or online at www.MCCFdn.org. You can make your gift monthly, quarterly, or all at once. But remember that only monies actually collected as of the closing date of September 30 will be included in the giving pool distribution amount for the annual grants.
Is there a limit to the number of members allowed in GIVE360?
No, there is no limit on membership numbers. The more members in the program simply results in more dollars granted through the giving pool and more dollars added to the endowment fund. The GIVE360 Advisory Committee has a goal to reach 200 members in the 2015 inaugural year.
Which agencies or programs in McHenry County are eligible for a grant from GIVE360?
To be eligible for a grant from the GIVE360 Fund, a nonprofit agency or program must serve residents of McHenry County, and must be a recipient of a grant from the McHenry County Community Foundation during the previous fiscal year. This provides a secure vetting system for all potential recipients of a grant. This has traditionally netted 60-70 organizations per year.
Will GIVE360 members get to vote for one agency or program from the full list?
GIVE360 members will receive a list that includes a brief description of each organization. Each member will be given three votes to cast and can vote for one, two, or three organizations.
When will the annual voting take place?
The McHenry County Community Foundation’s fiscal year ends September 30. The Fund totals will be determined as of that date on an annual basis. A ballot will be mailed to all GIVE360 members in October. All GIVE360 members will be invited to a special year-end reception in November to announce the grant recipients and present the grants to the agencies or programs.