What funds count before a Kresge challenge grant is awarded?
The following may count as initial funds: • Written pledges or cash from individuals, corporations, businesses, and foundations, including those resulting from direct appeals and unsolicited gifts (All pledges must be paid within five years from your fundraising end date.) • Organizational funds • Long-term financing • In-kind materials and services, including donated property (You may count gifts of land not involved in the project only when the land is sold or under purchase agreement.) • Cash surrender value of life insurance policies that your organization owns and is the beneficiary • Present value of formal deferred gifts (For a charitable lead trust, you may count the income from your campaign start date to five years from your fundraising end date.) • Matured bequests that are paid or in probate • Government grants
