McCune Foundation grants are provided anonymously, a policy in keeping with Charles McCune's charitable practice of seeking no publicity of his philanthropy. The Distribution Committee respects Mr. McCune's wishes and requests that publicity not be given to the grants. Organizations are requested to abide by the following guidelines.
What You May Do
List the McCune Foundation's name (but not amount of grant), along with other contributors in an annual report or in an internal accounting of contributors to a campaign or project. In major campaigns you may verbally mention the name of the Foundation and the amount of the grant during your solicitation of other foundations.
What You May Not Do
Never put the Foundation's name in the public press. If you wish to give publicity to the grant please say that it is from a source that wishes to remain anonymous. If you do a press release, please let us see it first.
Never list the Foundation's name and amount of the grant. If you wish to list the amount of the grant please refer to the donor as Anonymous, and not Anonymous Foundation.
In soliciting individuals, government and corporations for a major project or campaign, please do not reveal the Foundation's name and amount of grant. Again, say that it is from an anonymous source.
Do not list the Foundation's name in audits or on donor plaques, buildings, walls, and programs.
Do not name scholarship funds for the Foundation and do not reveal the source of the funds to the scholarship recipients.
The Distribution Committee appreciates your compliance with these requests. If you ever have a question about appropriate recognition, please call the Foundation's office at 644-8779.
If there is anyone else in your organization responsible for publicity and recognition of grants please share this policy with them. All members of organizations are expected to comply with the wishes of the Foundation.
McCune Foundation Endowment Policy
In the July of 1999, the Foundation instituted a new policy for all its endowment grants. Our collective experience in grantmaking, as well as an examination of best practices followed by others, suggested that these very special, long-term philanthropic investments should be handled differently than other grants. We feel it is incumbent that endowment recipients preserve, maintain, and grow the asset, while exercising good management and discipline in restricting the use of endowment income to its originally intended purpose(s). This stewardship is particularly important with organizations with whom we anticipate having a continuing relationship.
Our endowment grant policy has five components:
1. The McCune Foundation endowment grant must be treated as a permanently restricted fund and evidenced as such in the recipient's financial statements. The endowment grant shall be treated as a fund subject to the restrictions set forth in 15 P.C.S. Section 5548 [c], regardless of the state of the incorporation or operation of the recipient organization. The endowment grant shall be segregated on the books and records of the recipient organization to the extent necessary to ensure that all conditions herein are satisfied.
2. Any recipient organization subject to Pennsylvania law must make the election under 15 P.C.S. Section 5548 [c] with respect to a total return investment policy and spending policy with respect to all of its restricted endowment funds. A copy of the resolution making such election and the recipient's investment policies shall be provided to the McCune Foundation as soon as possible after receipt of the funds.
3. The endowment grant provided by the McCune Foundation shall not, under any circumstances, be pledged as collateral for loans, bonds, or other debt instruments, and shall remain free from any and all liens and encumbrances.
4. The McCune Foundation imposes a separate spending policy on any endowment grant provided by the McCune Foundation. Notwithstanding the spending policy elected under 15 P.C.S. Section 5548 [c] with respect to other restricted funds of the recipient organization, the recipient organization may not expend, in any one year, more than 5 percent of the value, including any appreciation, of the endowment grant provided by the McCune Foundation, with the value to be determined by averaging the value of the endowment grant over a three year period. The recipient organization must use the same averaging convention that it generally employs for purposes of 15 P.C.S. Section 5548 [c]. The recipient organization may also use the endowment grant funds to satisfy annual investment expenses with respect to the endowment grant, which investment expenses shall not exceed the lesser of the actual expenses incurred by the recipient organization, or one half of one percent of the value of the endowment grant, determined as set forth for the 5 percent limitation.
5. The above conditions shall be in effect for a period of fifteen years from the date of the Foundation's grant payment. If the recipient organization fails to comply with the above conditions, or if the recipient organization sells substantially all assets or ceases to exist, for whatever reason within such fifteen year period, then the McCune Foundation may request the return of its endowment grant funds, including any appreciation thereon. The endowment grant is intended to be an endowment to fund the specific program activity described in the grant notification letter, and there is no intent to provide ongoing support to an organization other than the recipient organization.
The reporting terms for the grant request that every third year over a fifteen year period, the organization submit a report to the McCune Foundation that describes and analyzes the endowment investment strategy, summarizes endowment earnings and use of income, and includes the latest financial audit.