AGENCY ENDOWMENT CHALLENGE GRANT PROGRAM
The Agency Endowment Challenge Grant Program is a competitive program to match funds of nonprofit service agencies that establish endowments within the Southern Tier West Development Foundation. The goals of the program are to assist agencies in building stable endowment funds, and to assist the Foundation in building its asset base.

The Funds:
Awards are made to selected agencies contingent upon matching funds being raised within a 12-month period of time. Awards require each agency to raise $3 dollars for every $1 dollar awarded. Maximum award is $7,500.

Eligibility:
Agencies designated as 501(c)(3) by the IRS and that meet the guidelines for STWDF unrestricted gifts are eligible to apply for matching funds. Participation is restricted to eligible agencies in Allegany, Cattaraugus, and Chautauqua Counties. Eligible Contributions include cash and/or marketable assets. STWDF must receive all gifts within 12 months of the agency's acceptance into the program. To qualify for the matching challenge grants, the agency must have raised its entire endowment goal. In the event the required amount of is not raised, the challenge grant will not be awarded but all funds contributed will remain within the STWDF.

Selection Criteria:
Selection criteria includes:

- Demonstrated impact on the community
- A strong and committed board of directors
- Solid financial health of the overall agency
- A feasible fundraising plan for adding to the endowment

Fine Print:

- Matching funds are made available to selected agencies when the agency endowment is formally established AND after the funds are received by STWDF. (Agency endowments are established through an Agency Endowment Agreement.)
- Gifts into the endowment are irrevocable and subject to the variance power of the STWDF Board of Directors.
- All funds in the agency endowment are invested through the commingled fund of STWDF.

Program Administration:
Funds are held in a separate endowment fund named for the nonprofit agency. Distributions are made from the fund when the total reaches $10,000 or more. When the endowment reaches the $20,000 threshold, STWDF distributes to the agency up to 5% of the fund balance on an annual basis.