Nonprofit Designated Endowment Fund
Annual distributions are paid out each spring from endowment funds at Montana Community Foundation (MCF). Here’s important information about the 2022 distribution cycle.
- Payment Date
We plan to make ACH (electronic) payments on Monday, March 6, 2023. However, while payment will be initiated on Monday, you probably won’t see it in your account until the end of the week, depending on how quickly your bank processes the deposit.
- Change in Bank Account
Distributions are made via ACH payments to your organization’s bank account. If your bank account information has changed since March 1, 2021, please complete the Direct Deposit Form and return it by mail by February 4, 2023. If your bank was sold/merged with another bank, we need a new ACH form, even if you didn’t change your accounts. If nothing has changed or if you recently sent in a new ACH form, you don’t need to do anything.
- Confirmation letter
After the electronic payment is sent, we mail a letter to the designated fund representative with the amount of the distribution(s) and the fund(s) making the distribution.
Please give a copy of the confirmation letter to:
Your Accountant/CFO/Controller: This person needs the information about the ACH deposit and will need the letter for your year-end financial statements.
We're Here to Help
For additional help, questions or comments, contact Kay Gray, Senior Accountant.