Gift Documentation and Verification Procedures
Application review will begin on February 16, 2015 for all completed applications. Applications will be reviewed in the order that they are received. Review of completed applications will continue on a rolling basis based on received date. Grant notifications will be issued starting the week of March 23, 2015 and will continue to be issued within 6-8 weeks of the received date of a completed application until the $400,000 is expended. Donors and schools will be notified by email when a completed application is received and under review and should expect to receive their grant notification via email within 6-8 weeks from this confirmation.
Gift Payment Documentation must be submitted by January 15, 2016. Failure to do so will render the gift ineligible for match.
Please do not send any payment documentation prior to being notified whether or not your gift was awarded matching funds.
- Donor gifts that are awarded matching funds must be paid after February 2, 2015 and must be paid in full to the Jewish day school by December 31, 2015. If a donor pays their gift in more than one payment, please wait to send the gift payment documentation until the entire gift is paid in full.
- Gifts must be given in the form of cash (checks or wire transfers) or transfers of publicly traded stock. Illiquid stocks, annuities, Israel Bonds, or other slowly maturing instruments are not eligible for matching funds. MATCH cannot match gifts that are made in the form of tangible goods such as Torah scrolls, land, or any other items given in place of cash or stocks. Gifts paid by credit card are not acceptable.
- Once a gift is granted, the school must provide MATCH with documentation that the gift was paid between February 2, 2015 and December 31, 2015. It is the donor's responsibility in conjunction with the day school professional to ensure that this documentation is submitted. MATCH will not be responsible for tracking down gift documentation. Donors should please be in touch with their contact at the Jewish day schools to make sure that sufficient documentation is submitted in a timely manner.
- Acceptable payment documentation may include: a copy of both the front and back of a cancelled check or a copy of a wire transfer receipt. These must clearly indicate that a gift was made from the donor whose application was approved to the Jewish day school designated on the MATCH applications. A copy of the front of a check accompanied by a ledger statement or deposit slip is not acceptable documentation of the gift. Gifts paid by credit card are not acceptable.
- If a donor makes their gift with a check from a Donor Advised Fund housed at a community foundation, a local federation or a financial management institution or from an account housed at a brokerage house or other financial management institution; documentation will be required indicating that the gift originated from an account belonging to the donor whose application was approved by MATCH. If the donor's name or account number does not appear on these checks, donors should please request that the name of the account be included in the memo field of the check in order to ensure ease of documentation verification. In addition, donors should request that the funds should not be bundled with other monies going to the same day school, but should be sent in isolation. Donors should confirm with the philanthropic fund/donor advised fund that a clear vehicle for payment documentation verification will be available to complete the match.
- If a donor is transferring a gift of publicly traded stock to the non-profit organization, MATCH will require a paper trail verification that clearly specifies the value of the stock transferred and clearly indicates that the stock belonged to the donor whose matching grants application was approved by MATCH and was transferred to the non-profit organization specified on the MATCH application. If the name of the donor or organization is not on the documentation, but the account number is, please provide documentation that indicates to whom the account belongs. In addition, if in the course of the stock transfer fees are deducted, the matching grant program will only match the amount received by the day school. If the fees deducted reduce the gift received by the school below $5,000, the donor will need to make up the difference before matching funds will be released.
- For donors paying their grants in Canadian dollars, the program will calculate the exchange rate of the matching grants based on the exchange rate on February 2, 2015
- Please send the necessary documentation to:
The AVI CHAI Foundation
1015 Park Avenue
New York, NY 10028
Email: firstname.lastname@example.org | Fax: 212-396-8833 attn: MATCH
- Once MATCH receives acceptable documentation that your approved gift was paid in full, we will, within 30 days of our receipt of the documentation, issue the matching funds to the approved non-profit organization.
- All gift payment documentation must be received by Friday, January 15, 2016.
- If you have any questions please contact Suzanne Kling Langman, MATCH Coordinator at email@example.com or via voicemail at 212-396-8858.