HB 119: "An Act creating the endow Alaska grant program in the Department of Commerce, Community, and Economic Development to encourage community philanthropy."
00 HOUSE BILL NO. 119 01 "An Act creating the endow Alaska grant program in the Department of Commerce, 02 Community, and Economic Development to encourage community philanthropy." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 44.33 is amended by adding new sections to read: 05 Article 13A. Endow Alaska Grant Program. 06 Sec. 44.33.850. Grants for community philanthropy. The endow Alaska 07 grant program is established in the Department of Commerce, Community, and 08 Economic Development. To encourage community philanthropy in the state, the 09 department may identify a statewide lead philanthropic entity that meets the 10 requirements of AS 44.33.260 and grant the entity state funds that the entity may 11 annually award to a community foundation or community foundation affiliate as 12 endow Alaska grants to increase endowed funds, the purpose of which would be 13 unrestricted. 14 Sec. 44.33.860. Eligibility requirements for lead philanthropic entities and
01 grant recipients. (a) To be eligible under AS 44.33.850, a lead philanthropic entity 02 must be 03 (1) a nonprofit entity exempt from federal income taxation under 26 04 U.S.C. 501(c)(3) (Internal Revenue Code); 05 (2) a statewide organization whose principal function is to make grants 06 in the state; and 07 (3) a community foundation. 08 (b) Only a community foundation or a community foundation affiliate is 09 eligible for a grant under AS 44.33.850 - 44.33.890. 10 Sec. 44.33.870. Evaluating applications and awarding of grants. (a) When 11 evaluating applications for grants, the board of the lead philanthropic entity shall 12 consider relevant factors, including 13 (1) the need for financial assistance; 14 (2) the potential for future philanthropic activity in the community or 15 geographic area that will benefit from the grant; 16 (3) the percentage of matching funding proposed; 17 (4) the opportunity to establish new community foundations or 18 community foundation affiliates; 19 (5) the geographic diversity of the communities or geographic areas 20 that will benefit from the grants; and 21 (6) other relevant factors as determined by the board. 22 (b) The board of the lead philanthropic entity may award endow Alaska grants 23 to a community foundation or a community foundation affiliate that 24 (1) provides all information the board requires, including evidence of 25 the existence of the community foundation or the community foundation affiliate; 26 (2) demonstrates, in a manner approved by the board, the ability to 27 match state funding at a ratio of at least one-to-one; and 28 (3) provides a spending policy for distributing grant money to 29 organizations within the community or geographic area as defined by the community 30 foundation or the community foundation affiliate. 31 Sec. 44.33.880. Limitations on grant amounts, awards, and administrative
01 costs. Endow Alaska grants are limited as follows: 02 (1) grants may not exceed $25,000 annually for each foundation or 03 community foundation affiliate unless the grant will be used to benefit multiple 04 boroughs or a region; 05 (2) only five percent of the grant funds received by the lead 06 philanthropic entity may be used for administrative purposes by the lead philanthropic 07 entity; 08 (3) state general funds may not be used as matching funds under 09 AS 44.33.870(b) to qualify for a grant through the endow Alaska grant program. 10 Sec. 44.33.890. Definitions. In AS 44.33.850 - 44.33.890, 11 (1) "community foundation" means a tax-exempt, nonprofit, 12 autonomous, publicly supported, philanthropic institution in the state composed 13 primarily of permanent funds established by many separate donors for the long-term 14 diverse, charitable benefit of the residents of a defined geographic area; 15 (2) "community foundation affiliate" means a group of five or more 16 community leaders or advocates organized for the purpose of increasing philanthropic 17 activity in an identified community or geographic area in the state who have 18 established or intend to establish a community foundation affiliate endowment within 19 an existing community foundation; 20 (3) "department" means the Department of Commerce, Community, 21 and Economic Development; 22 (4) "lead philanthropic entity" means an entity identified by the 23 department under AS 44.33.850 that meets the requirements of AS 44.33.860.