1. At the Annual Meeting in June, the Educational Foundation Board of Directors, as part of the annual budgeting process, will vote on the amount of total Foundation funds to be distributed for Chapter Educational Foundation Activities, with each chapter, including student chapters, [i]having the opportunity to share equally in the these funds (i.e. if there are 10 active chapters and a student chapter applying, then each chapter will have the potential to receive 1/11th of the total funds). Distribution of the MSPE EF funds will not be based on membership numbers in each Chapter.
2. Chapters must submit a written detailed plan, schedule and budget for ALL Chapter activities that they wish to be considered for Foundation funding. These written plans, schedules and budgets must be sent directly to the MSPE Educational Foundation Office in Jefferson City and be received no later than January 1st of each year; unless otherwise determined by the Educational Foundation Executive Committee. All requests submitted after the deadline cannot be considered until the following fiscal year (beginning July 1st). If more than one proposed activity is submitted by a Chapter, then each activity must be prioritized (by the Chapter) in order to keep the Educational Foundation Officers from having to determine the importance of each activity in case full funding of all activities is not possible.
3. At their January meeting, the Foundation’s Executive Committee will review each proposal to verify that the proposed activities meets the 501(c)(3) criteria. All qualifying requests will be approved up to the total amount available for each Chapter. Notice of award will be given to each Chapter within 2 weeks of the January Educational Foundation Officers meeting.
Activities that will not be considered for funding because they do NOT meet the 501(c)(3) criteria include the following:
Funding of refreshments (food and/or drink) at educational events.
Public relations and promotional activities to influence individuals to become engineers (even at the student level). These activities, such as Career Nights and E-Week advertising/promotions, can be viewed as benefiting MSPE, a 501(c)(6) group, more than the Education Foundation.
Funding of fuel, travel (including vehicle rental) or lodging expenses to attend educational events.
Requests for funding Chapter scholarships will also not be considered.
4. Should a Chapter not request funding their portion will be distributed to the Chapters making requests. Distribution of funds will be based on the merit of the total proposal. Priority will be given to funding start-up costs for new educational activities or for truly distinguishable new enhancements to existing Chapter educational programs/activities.
5. In order to receive the allotted funds, the Chapters must submit actual receipts of all approved grant expenses. Absolutely no advance money will be sent to the Chapters. In order to minimize bookkeeping, all receipts must be submitted prior to June 1st (1 month prior to end of fiscal year) for reimbursement. Those received after June 1st will not be considered.
6. Should a Chapter not expend the total amount requested by May 31st of each year, this money will be forfeited and returned to the general fund of the Foundation.
7. If a Chapter plans to start a new activity for which the start-up costs exceeds their allotment, and the Chapter does not have the funds to make up the deficit, they may submit a proposal for "banking" their allotment for more than one year. If the proposed activity does not come to fruition in the following year, the funds will revert back to the Foundation fund for distribution in the next year. A Chapter that "banks" its funds will not receive any money in the present year. These "present year" funds will be carried over and added to the Chapter's allotment for the next year. A maximum of 2 years allotment (present year and following year) can be banked. Banking can only be used on a project that has start-up costs exceeding the one year Chapter allotment. Unused funds for approved activities that do not have to be banked cannot be rolled over to the next year (see guideline #6).
8. No Chapter shall be able to receive more than half of the total available funds in a single year. If there is not enough approved requests for the money allocated then the excess funds will be rolled over into the budget for possible distribution in the next year.
9. Chapters should be cautioned that there is no guarantee for future annual funding distributions. The amount of funds, if any, to be distributed to the Chapters will be determined once a year as the MSPE Educational Foundation budget is approved at the Annual Meeting of the Educational Foundation Board of Directors in June. This amount may vary from year to year depending on the financial status of the Educational Foundation and wishes of the MSPE EF Board of Directors.
Office: 573-636-4861 Fax: 573-636-5475 200 E. McCarty St., Ste 200 Jefferson City, MO 65101