The Turn-Around Fund is that portion of the ESA Foundation that enables members of the Foundation to obtain contributions from businesses / individuals to contribute to philanthropic projects / organizations. Depending on the status of the donor, these contributions may be tax deductible. The Turn-Around Fund consists of internally funded grants. The ESA Foundation Turn-Around Fund may be used by the ESA Foundation’s membership, individual, chapter, district, regional, state, International Council, or outside entities.
As the nonprofit world continues to grow, regulatory agencies are taking a closer look at these entities. As a 501(c)3 nonprofit entity, the ESA Foundation Board of Directors met in 2002-2003 with IRS agents to be certain the ESA Foundation was operating within the 501(c)3 guidelines as outlined by the IRS. As a result of that consultation, the ESA Foundation Board of Directors adopted the following policy for the Turn-Around Fund.
- Checks sent to the Turn-Around Fund must be made payable to the ESA Foundation.
- Checks or donations must be for $25 or more.
- ESA Foundation Turn-Around Fund checks may only be issued to other IRS designated 501(c)3 charitable organizations. The recipient entity’s 501(c)3 valid determination or exemption letter, and EIN # must accompany the request. [See note below]
- ESA Foundation Turn-Around Fund checks not cashed within 120 days of the date of issue will be considered a donation to the ESA Foundation General Fund.
- The IRS does not allow the following:
- Turn-Around checks issued directly to an individual or reissued to a chapter or state council.
- ESA Disaster Fund
- State / Regional Love or Care Funds
The EIN # for St. Jude Children’s Research Hospital is 62-0646012. A list of 501(c)3 approved organizations will be compiled, updated as needed, and accessible through the ESA Foundation website.
If you are uncertain about your charity / organization, you can check them out on the following website: www.guidestar.com
. This site lists almost all IRS authorized 501(c)3 entities.