Is there a formula that the Hope Fund uses to guarantee that a certain amount of funding will be given to a particular facility?
The Hope Fund was created to serve wherever there is need. We do not restrict funds to a particular facility for several reasons: 1. To keep the designation as a 501(c)(3) public charity, the Hope Fund must meet certain criteria. For example, the class of recipients must be large enough to establish that the “community” is benefiting – not a “private party.” Many times, one facility is not a large enough class to meet these criteria. 2. A decision to make a participant(s) ineligible based upon where he or she works is counter to the current Hope Fund policy and guidelines. 3. Eligibility for receiving assistance can’t be limited to those facilities where employees give. This is counter to charitable organizations.
Related Questions
- Our county library funding formula uses nonresident usage statistics for the twelve month period ending June 30, rather than for the prior calendar year. Is this acceptable?
- Is there a formula that the Hope Fund uses to guarantee that a certain amount of funding will be given to a particular facility?
- Given the idea of NICATS, is there a need for a credit-based formula for funding?
