Ministry Program Fund

A Ministry Program Fund (MPF), established at WaterStone, is a solution for those God has called to personal ministry and service in the community. WaterStone verifies federal and state compliance for charitable work while providing administrative, investment and accounting services.

Characteristics

  • A clear, specific purpose approved by the Board of Directors for ongoing charitable, religious and educational activity.
  • Approved MPF Fund Manager with three letters of reference.
  • An approved annual budget.
  • A group of committed givers.
  • Approved fundraising methods, materials, and special events.
  • May have administrative employees, contract for services or grant distributions.
  • Liability insurance may be required.
  • Any legal or other direct program expenses incurred will be charged directly to the MPF.
  • Minimum initial contribution of $5,000.
  • Minimum cash balance of $500 must be maintained.
  • Closing fee will be reserved from available balances.
  • Programs retaining $25,000 or greater may select an approved investment pool.
  • Online Fund View available for MPF Fund Manager to view balances and account activity.
  • Receipts for all contributions will be mailed to givers.

FAQs

Do you have web access to my Ministry Program Fund?

MPF Fund Managers will be given a unique login with a password to access their MPF through our WaterStone website at www.waterstone.org. The Online Fund View is available to manage all your program’s transactions, view the program balances, and givers.

How do I make a gift?

There are several options available for cash gifts. Mail a check, make an online credit card gift or an electronic check gift. We can also establish an automatic electronic gift directly from checking accounts for you or your givers with appropriate giver authorization.

What name should the check be payable to?

Please have your givers make all checks payable to WaterStone # (insert your Ministry Program Fund number) and send to 10807 New Allegiance Drive, Suite 240, Colorado Springs, CO 80921.

Do Ministry Program Funds have nonprofit status?

Under WaterStone’s tax-exempt umbrella, you have nonprofit status. WaterStone’s unique structure and operation lends this status without spending the time and money on legal work, accounting, government filings, office rental and administrative support. The relationship of a Ministry Program Fund and WaterStone is a legal relationship based on strict compliance with the letter and the spirit of the law, IRS codes and regulations and WaterStone policies. See your Operations Manual for disclosure information required on all materials, brochures, correspondence and websites.

May I ask others to give to my Ministry Program Fund?

Your approved MPF is available to receive gifts from multiple givers. Newsletters, special events and websites are valuable methods for telling others about the ministry and charitable work about which you are passionate. All proposed marketing materials and written communications must be presented for approval prior to printing and distribution. The Operations Manual has valuable information and forms about fundraising. All gifts must be received at the WaterStone office unless prior approval is given for a specific purpose or special event.

Does WaterStone receive credit card gifts?

Yes, credit card and electronic check gifts are accepted. Just have your givers go to our website at www.waterstone.org and click "Kingdom Programs." They will have the opportunity to select your Ministry Program Fund from a search list. You may also add a link to this Kingdom Programs web page to your approved MPF website for credit card and electronic check gifts.

Can givers have their gifts electronically deducted from their bank account?

Yes, we will be happy to accept regular electronic gifts. All we need is giver authorization and a voided check. Please contact the Giving Strategies team for more details.

Do you accept gifts of real estate, business interests, stock or other non-traditional assets?

Yes. The WaterStone passion is to help transform these types of assets into living water fit for the Kingdom of God. Please contact us and our capable team will help determine the best solution for your charitable objectives.

Do givers receive a contribution receipt?

The MPF primary advisor has online access to the fund where the contribution history and donation receipts can be viewed.

How will I know the balance and names of givers who gave to my Ministry Program Fund?

You may access your MPF through the Online Fund View to obtain your current fund balance and view other transactions. WaterStone financial statements are available quarterly and will be posted to the Online Fund View with an email notification sent to you. All investment accounts will be updated as statements are received to their current fair market value.

Giver names, addresses, and contributions may be viewed in the Online Fund View with an excel spreadsheet download available for your convenience in sending giver acknowledgements.

How do I request reimbursement for my MPF expenses?

As MPF Fund Manager, you may request reimbursement for expenses incurred from pre-approved ministry and charitable activities and to pay approved invoices. Every request must include the purpose and appropriate documentation and be submitted in a timely manner.

How do I request a grant to a ministry or charity?

To recommend grants is easy. Just access your account through our website at www.waterstone.org with your unique login and password. Using the Grant Recommendation menu, you may set up your favorite charities and ministries and submit grant requests. Regular recurring grants may also be established. You may also complete and submit a Distribution Form providing the name of recipient, address, amount and the preference for the gift.

What is the turnaround time for grant or reimbursement checks to be issued?

Checks are issued once a week, usually on Wednesday. Once the status of the charity or ministry has been verified by the Giving Strategies team and there is sufficient cash available in the MPF, the turnaround time can be less than a week. The time may vary for a MPF with investments (which must be converted to cash) and for requests to ministries or charities that must be verified for compliance qualification.

How can I help a family that is in need of benevolent assistance?

Ministry Program Funds with approved benevolent purposes may assist families in need, with specific criteria for acceptance. All Benevolent applications are submitted to the WaterStone Support Board of Directors for approval. Please contact the Giving Strategies team prior to application to discuss financial and situational details.

What type of ministries and charities can receive grants from my MPF?

Grants may be recommended for 501(c)(3) nonprofit organizations and ministries that are approved by our Board of Directors.

Are there any grants that are not acceptable?

WaterStone seeks to encourage givers undertaking a broad range of charitable and educational endeavors as well as direct Christian ministries. Our passion is to implement all recommended charitable giving not contrary to our Statement of Faith, current policies, or current guidelines of the Internal Revenue Service.

WaterStone however will not authorize distribution of charitable funds to advance activities that the Board of Directors through its Leadership deems to be inappropriate, in conflict with the Statement of Faith, or contrary to this organization’s purposes, even though such purposes may be legitimate for tax-deductible gifts.

The Internal Revenue Code specifically disallows charitable distributions which might:

  • - Provide private benefit to the giver or a related individual;
  • - Pay dues or membership fees;
  • - Purchase tickets to a charitable event or benefit, such as banquets, golf tournaments, auctions, or sponsorships;
  • - Pay a pledge made by a giver to another charitable organization;
  • - Pay for school tuition – except within the context of an established scholarship program;
  • - Support charities on the terror-watch list; or
  • - Support a political party or candidate for election.

WaterStone retains the ultimate right to determine approval or disapproval for distribution.

When a grant is recommended, how will the recipient know that I recommended the gift?

All grant checks include a notification stating your preference for the gift, the MPF name, and the name and address of the MPF Fund Manager.

May I give anonymously?

If you wish to remain anonymous, just let us know by checking the box, “Make this Grant Recommendation Anonymous” in the Online Fund View Grant Recommendation or on the Distribution Form.

May I recommend grants from my Ministry Program Fund for foreign organizations or to organizations that do not have their tax-exempt status?

Grants recommended for unqualified charitable or religious activities may be supported as an extension of the mission of WaterStone. The WaterStone Support Board of Directors reviews all grants recommended for non-501(c)(3) charitable and ministry activities submitted by the Grant Application process. Please contact the Giving Strategies team for more details.

How will the assets of my MPF be invested?

Programs retaining $25,000 or greater in cash balances may select an approved WaterStone investment pool.

Who is responsible for legal expenses?

Ministry Program Funds at WaterStone are responsible for any legal expenses incurred on behalf of the fund.

What is the Federal Tax Identification number of WaterStone?

The Federal Tax Identification number is 84-1430063. The legal name is WaterStone Support Foundation, however, for giver convenience, checks payable to WaterStone are accepted.

How can I communicate with you?

Communication is easy. You may contact us by mail, phone, fax or email.

  • WaterStone
  • 10807 New Allegiance Drive, Suite 240
  • Colorado Springs, CO 80921
  • Voice: 719.447.4620 Fax: 719.447.4700
  • Email us

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