Is a pass through fund with Central Montana Foundation the right move for your organization? Before you apply, please read the following information about the purpose and function. Once received in the CMF office, your request will be voted upon at a regular meeting of the CMF Board of Directors. Contact CMF Executive Director Carrie Mantooth at 406.538.6130, or email email@example.com for more information.
Frequently Asked Questions
Central Montana Foundation (CMF) is the umbrella organization for a number of pass through accounts for not-for-profit and tax-exempt organizations. A pass through account is designed for short-term projects with the primary advantage being that donations held under the 501(c)(3) umbrella of CMF are tax deductible. This eliminates the need for the fund holder for eligible organizations to apply for their own non-profit status.
Is a pass through account right for your organization?
If your organization is working on a short-term campaign, then a pass through account with CMF may be a great option. A pass through fund is like a charitable checking account in that is provides a conduit through which charitable contributions flow towards a specific project or program.
Do a pass through account earn interest?
No. Since pass through accounts need to be kept liquid, no interest is paid to fund holders. If your organization is looking to build long-term sustainability, you will want to consider applying for a permanent endowment with CMF where investment income is earned by account holders.
What about administrative fees?
CMF is unique in that it currently charges NO administrative fees to its account holders! CMF covers the administrative expenses of working on behalf of our permanent endowment and pass through fund holders from the investment income earned from 10 undesignated permanent endowments. These include our general endowment, along with nine estate gifts to CMF. These funds also provide the grant awards back to community projects.
Who is eligible for a pass through account?
Only not-for-profit or tax-exempt entities may apply for a pass through account with CMF. Non-profits must be registered with the Montana Secretary of State.
Will our organization get to keep all our funds when we no longer need the pass through fund with CMF?
Yes! Please note that if you are approved, you must have at least $2,500 to open the pass through account and need to maintain that balance during your fund raising campaign. However, your entire account balance will be returned to your organization upon closure of the pass through fund.