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ESA Foundation Turn Around Funds
The Turn-Around Fund is that portion of the ESA Foundation that enables members of the Foundation to obtain contributions from businesses / individuals to contribute to philanthropic projects / organizations. Depending on the status of the donor, these contributions may be tax deductible. The Turn-Around Funds are internally-funded grants. The ESA Foundation Turn-Around Fund may be used by the ESA Foundation’s membership – individual, chapter, district, regional, state, IC Council, or outside entities.As the non-profit world continues to grow, regulatory agencies are taking a closer look at these entities. As a 501(c)3 non-profit entity, the ESAF Board of Directors met in 2002-03 with IRS agents to be certain the ESA Foundation was operating within the 501(c)3 guidelines as outlined by the IRS. As a result of that consultation, the ESA Foundation Board of Directors adopted the following policy for the Turn-Around Fund.
1. Checks sent to the Turn Around Fund must be made payable to the ESA FOUNDATION.2. Checks or donations must be for $ 25 or more.
3. ESAF Turn-around checks may only be issued to other IRS designated 501(c)3 charitable organizations. The recipient entity’s 501(c)3 valid determination or exemption letter, EIN # must accompany the request. [See note below]
4. ESAF TAF checks not cashed within 120 days of the date of issue will be considered a donation to the ESA Foundation General Fund.
5. The IRS does not allow the following:
NOTE: 501(c)3 entities that do not require a submission of their IRS Status: St. Jude Children’s Research Hospital Easter Seals All other 501(c)3 entity requests must have a valid copy of the IRS exemption letter, EIN #. * These only need to be submitted once. A list of 501(c)3 approved organizations will be compiled, updated as needed, and accessible through the ESAF Website.
If you are uncertain about your charity / organization, you can check them out on the following website: www.guidestar.com This site lists almost all IRS authorized 501(c)3 entities.