For eighty years, Knox County Foundation has served as the philanthropic epicenter of Knox County, Ohio, providing local donors and philanthropists with a variety of ways to maximize the impact of their charitable giving and supporting hundreds of local nonprofit organizations and thousands of Knox County residents through grants and scholarships. As of January 1, 2024, the Foundation is pleased to announce Foundation Forward, a new program designed to encourage and support emerging philanthropists in Knox County, once again made possible by the vision, leadership, and generosity of Ariel Corporation.
HOW DOES FOUNDATION FORWARD WORK?
Beginning on January 1, 2024, Foundation Forward will provide matching funds for new donors making a qualifying one-time donation or a qualifying 3-year donation commitment to Knox County Foundation.
WHO QUALIFIES FOR FOUNDATION FORWARD?
Any new donor who has never received matching funds under the terms of the New Philanthropy Matching Program, which expires on December 31, 2023, are eligible to receive one-time matching funds for qualifying donations under the terms of Foundation Forward.
WHAT KINDS OF DONATIONS QUALIFY?
Foundation Forward will provide one-time matching funds per new donor for the following types of donations, and with the following restrictions:
Community Impact (Unrestricted) Funds
A donation of at least $25,000 to a new or existing Community Impact Fund will receive a 100% match.
Field of Interest Funds
A donation of at least $50,000 to a new or existing Field of Interest Fund will receive a 100% match, provided that the Fund serves a broad field of interest (such as education, health, or the arts) as defined by the Foundation.
Donor Advised Funds
A donation of at least $50,000 to a new or existing Donor Advised Fund will receive a 50% match, provided there are no named contingent advisors and that the fund converts to a Community Impact Fund upon the death of the original named advisors.
Designated Funds
A donation of at least $50,000 to a new or existing Designated Fund will receive a 25% match, provided the beneficiary organization is primarily located in and serving Knox County, as determined by the Foundation, and that the fund balance is sufficient to provide an annual distribution of at least $1000 to any named beneficiary organization.
Scholarship Funds
A donation of at least $10,000 to one of the existing donor-pooled Scholarship Funds awarding scholarships to graduates of each of the local Knox County schools or to Knox County residents who are homeschooled or enrolled in a school outside of Knox County will receive a 25% match.
*Matching funds are available up to $50,000 per individual or $100,000 per married couple.
*Both the qualifying donation and any matching funds must remain endowed (maintained in perpetuity); only investment income from these endowed monies will be available for distribution.
WHAT ABOUT A MULT-YEAR COMMITMENT?
For new donors who wish to meet the giving threshold to qualify for matching funds over time, or for new donors who wish to maximize their access to matching funds through annual giving, Foundation Forward offers a novel opportunity. Donors who sign an agreement committing to make qualifying annual contributions of at least $10,000 to any qualifying fund for a period of three (3) consecutive years and reach the minimum threshold for qualifying donations per the fund in question (as outlined above) will be eligible to receive consecutive annual matching funds of up to $50,000 per individual or $100,000 per married couple, per year.
For example, a new donor who signs an agreement committing to make annual donations of $10,000 in 2024, 2025, and 2026 to a new Community Impact Fund (and thereby reaching the $25,000 minimum donation threshold over three consecutive years) will receive a $30,000 matching contribution from Foundation Forward. Furthermore, a new donor who signs an agreement committing to make annual donations of $50,000 in 2024, 2025, and 2026 to a new Community Impact Fund will receive a $150,000 matching contribution from Foundation Forward.
*Qualifying donations require a signed donation agreement and must be received for three (3) consecutive years. Annual gifts will be immediately applied to the fund supported. Qualifying matching funds will be held by Knox County Foundation throughout the three-year period and allocated in total upon receipt of the final qualifying contribution assuming the terms of the agreement have otherwise been fulfilled.