Nonprofit Agency and Nonprofit Designated Endowment Funds
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, 2022, please complete the Direct Deposit Form and return it (by mail or email) 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 will mail you a letter with the amount of the distribution(s), the fund(s) making the distribution, and the mailing address for the donor, unless it is an anonymous donor, in which case, you can send a thank you directly to MCF and we will pass it along for you.
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.
Your Development Director: This person needs to send a thank you note to the fund donor.
The Benefiting Program: If your organization is serving as a fiscal sponsor or is the main office of a large nonprofit, please inform the site/program the funding is for as they will not receive a separate notification from us.
- Quarterly Statements on the Portal
MCF discontinued paper statements several years ago. If your nonprofit has a nonprofit agency or nonprofit designated fund at MCF, you can download your quarterly endowment statements on the Fundholder Portal.
Need an invitation to register, not sure if you are registered, or want to update account details? Contact Cathy at email@example.com or (406) 441-4954.
Note: If you are also receiving a distribution from a donor designated endowment fund, you won’t have access to quarterly statements for that donor’s fund.
- Learn more about Nonprofit Agency and Nonprofit Designated Endowment Funds
Check out this helpful handout to learn more.
We're Here to Help
For additional help, questions or comments, contact Kay Gray, Senior Accountant.