Philanthropy Program Santa Barbara Associates

Philanthropy Program


Santa Barbara Associates Giving Forward Philanthropic Committee Policies and Procedures

Guidelines Overview

Santa Barbara Associates (SBA) Mission Statement: “Women in leadership positions making connections, sharing expertise, inspiring confidence, encouraging growth.”

The Santa Barbara Giving Forward Initiative was passed by the SBA Board of Directors on November 2, 2016 and the SBA Giving Forward Philanthropic Committee was permanently established as a committee within the organization. The fund has been established as a Committee Advised Fund (Fund) under the aegis of the Santa Barbara Foundation in order to make intermittent gifts to charitable and nonprofit organizations in the Santa Barbara Community. The purpose of the Fund is to expand SBA’s reach into the wider community that has supported SBA’s success throughout the years by contributing to charitable organizations with missions that resonate with the SBA interests and goals.

On an annual basis, under the advisement of the membership; awards will be presented at the SBA Annual Meeting in January of each year. The Giving Forward Philanthropic Committee will report directly to the Board of Directors and ultimately to the membership.

Receipt of Donations

When a contribution is made, the Santa Barbara Foundation will notify the donor with a tax deduction letter. Contributions may also be made in an honoree’s name. The Santa Barbara Foundation will also notify the honoree or their family upon the donor’s request.

Additionally, a thank you letter will be sent from the SBA Giving Forward Philanthropic Committee (Committee) thanking the donor for their contribution.

Nomination Criteria

The membership will have a three month submission timeline annually during July, August and September for recommendations prior to the selection of the award recipients. The recommendation forms can be found on the SBA website and submitted to the Committee for review.

There will be a minimum of two notifications in the SBA Newsletter prior to requesting recipient recommendations from SBA members. The forms can submitted in person at a Board of Director’s Meeting, a Committee meeting or via regular mail or email.

The nominees must be any IRS 501(c)3 organization. Proof of the IRS designation will be required before a nominee will be considered for an award. The Santa Barbara Foundation will have the final approval for the tax verification.

The nominees must align with the SBA Mission Statement and should be educational, provide mentorships or other professional skill building organizations.

The Committee will select the recipient organizations. The gift amounts will be presented to the SBA Board for final approval.

Distribution of Funds

The awards will be presented at the SBA Annual meeting in January of each year. There may be years when no awards will be offered either due to the lack of nominations or money in the fund.

The Committee will not recommend the distribution of funds without notifying and reviewing Philanthropic Recipient Recommendations from the membership and a majority vote by the SBA Board of Directors.

These procedures will be evaluated each year by the Committee as necessary. The Fund totals are reported to the Board of Directors by the Treasurer two times per year and will be included in the Treasurer’s report

Funding and Growth of the Fund

The Fund was established with a $5000.00 transfer from the SBA Vanguard accounts. Any additional transfers from the Vanguard funds will be advised by the Committee and approved after a majority vote by the SBA Board of Directors.

Additional monies in the fund will come from member contributions or fundraising efforts through the Giving Forward Philanthropic Committee and with the assistance of the Programs Committee.

Members can make contributions on the SBA website with a link to the Santa Barbara Foundation, directly with the Santa Barbara Foundation or by mail. When making a contribution to the SBA fund, donors need to make specific reference to the SBA Fund.

The Foundation will report all contributions to the fund to the Santa Barbara Board of Directors.

Administration and the Committee

The Committee will be headed by a Chair and will include the SBA President and Treasurer and two additional members either from the Board of Directors or the membership at large. The Chair for the Committee will be chosen no later than February of each year.

The Committee Chair, President and Treasurer will have access to the Fund reports provided by the Santa Barbara Foundation.

The Fund totals are reported to the Board of Directors by the Treasurer two times per year and will be included in the Treasurer’s report.

The Fund will be administrated by the Santa Barbara Foundation for a fee of 3% per year. The Santa Barbara Foundation will provide all the necessary tax reporting and reporting to the SBA Board of Directors per our contract agreement with them. The contract will be reviewed annually with the Santa Barbara Foundation for changes in policies and procedures.

In the event the SBA dissolves, funds held at the Santa Barbara Foundation can be fully expended prior to the dissolution or directed to a 501(c)3 with goals similar to the SBA.

These procedures will be evaluated each year by the Committee as necessary.

Appendix

  • Initial proposal of the Fund including the most asked questions
  • Nomination Application Form
  • Step by Step Method to make a contribution to the Fund
  • Fund Contract with Santa Barbara Foundation
  • Reports relating to the administration to the Fund