Sugarloaf Charitable Trust
The Sugarloaf Regional Charitable Trust is a private, nonprofit trust, dedicated to improving the quality of life in the communities that make up the Sugarloaf area. The trust provides financial assistance to organizations with nonprofit, tax-exempt status. The goal of this assistance is to encourage the growth of existing human service and cultural organizations and the development of new organizations that will involve and improve the lives of those who live, work and recreate in the Sugarloaf area. These organizations will be able to rely on a certain level of assistance from the fund and therefore be able to develop long-range plans of growth.
Who heads the trust?
Is administered by a Board of Trustees to be appointed as follows:
2 elected by employees of SMC.
2 employees appointed by SMC management.
2 community members appointed by SMC management.
Where will the fund monies come from and how are they allocated?
Allocates fund twice a year, in April and October, to cultural, human service and other organizations that request grants by submitting formal applications for specific projects. The Board of Trustees makes decisions based upon their requests.
Accepts tax-deductible contributions in the form of cash or other acceptable property, via its Acquisition Committee.
Supports charitable organizations whose primary purposes are to enhance the quality of life and meet human service needs in the communities that make up the Sugarloaf area.
Prefers to fund special projects that have a clear and measurable impact. Requests will be entertained for either "seed" money.
Prefers that organizations request funds only once during the calendar year, unless there are unusual financial difficulties.
Will encourage projects or requests, which in time will become self-sufficient and broaden their fund-raising activities, so that the Trust does not become the sole source of funding.
Has established a matching gifts program and may allocate up to 10% of annual contributions to this program.
The Sugarloaf Region Charitable Trust does not provide funding for the following:
- Any political campaign on behalf of any issue or candidate
- Endowment fund
- Religious activities
- Individual fund-raising efforts and events (i.e. Walk-AThons, Telethons, etc.)
- Goodwill advertising of a public relations or publicity nature or testimonials
- Agencies that are members of United Way organizations, except in emergency situations
- Athletic events that do not benefit qualified organizations as stated in Eligibility Criteria.
All organizations requesting funding must have Internal Revenue code 501-C(3) nonprofit status.
Organizations must demonstrate a clear need for private financial support.
A clear impact on the communities that make up the Sugarloaf area must be shown.
All requests to the Sugarloaf Region Charitable Trust
Must be submitted in writing to the Secretary, Sugarloaf Region Charitable Trust, Sugarloaf Mountain Corporation, 5092 Access Road, Carrabassett Valley, ME 04947-9799.
Must be received by March 15 and September 15, each year.
Must include the following information:
- Name of organization.
- Mailing address.
- Contact person and telephone number.
- Purpose of organization
- Copy of IRS 501-C(3) certification or equivalent documentation.
- Names of staff and brief backgrounds, (if different from previous information submitted).
- Names of board and affiliations, (if different from previous information submitted).
- Budget summary; if applicable, include last year's actual financial statement and projected budgets for the next three years.
- Amount requested from the Trust.
- Expected amount of funding from other sources.
- Explanation of need for and anticipated use of funds.
- Anticipated impact and benefits to be realized in the community from expenditure of funds.
- Amount of anticipated funding to be requested from the Trust in each of the next three years, if applicable.