Section 3. Elements of the program.
At a minimum, the program established by Commonwealth Community Foundations (PA) to establish local trust funds shall include the following elements:
(1) All community foundations within this Commonwealth
are eligible for a portion of the endowment.
(2) Areas not served by a community foundation shall be
assigned to an existing community foundation, so that they
may also have access to the benefits of the trust funds being
established. Community foundations which are requested to
expand their normal jurisdictional areas will be expected to
take all necessary steps to inform these areas of the
existence of the funds and the procedures to be followed in
applying for a grant.
(3) Community foundation boards of directors in their
capacities as community representatives shall be encouraged
to annually determine local needs and to base their funding
decisions upon these assessments.
(4) Community foundations are expected to add value to
the sums being appropriated. Through prudent investment,
fundraising efforts and the contribution of substantive in-
kind services, the Commonwealth expects its investment to
grow at a minimum of 5% per year.
(5) The net annual earnings of each local trust fund
shall be used to support recognized community foundations as
additions to their capital funds.
(6) Every community foundation shall be eligible to
receive a minimum of $20,000; no more than $100,000 shall be
granted to any single community foundation.
(7) Endowment funds created by the Commonwealth
Community Foundations (PA) grants shall be named "The Ben
Franklin Trust of (the respective foundations)."