Tin Cup Challenge Frequently Asked Questions
To share with staff, board members, donors and volunteers.
How do non-profits sign up to be a part of the Tin Cup Challenge?
All nonprofit organizations in Teton County, Idaho and Alta, Wyoming are invited to participate in the Tin Cup Challenge. To be eligible, organizations must attend a mandatory kick-off meeting and review and complete the Nonprofit Participation Application. The Community Foundation reviews applications to ensure each organization’s eligibility. An application acceptance letter is sent to the contact person of all eligible nonprofits. There is no cost to apply. Qualifying organizations may participate in either the Tin Cup Challenge or Old Bill’s Fun Run but not both.
How do non-profits raise funds through the Tin Cup Challenge?
Organizations invite donors to give to the Community Foundation through the Tin Cup Challenge and to include their organization in the list of recommended charities on the donor form or online. Donations must be made payable to the Community Foundation. The Community Foundation receives the gifts and donor forms, acknowledges donors with a tax receipt, and records the gifts in funds named for the beneficiary organizations.
What are the Community Foundation’s responsibilities?
The Community Foundation of Teton Valley:
·Receives and processes all gifts to the Tin Cup Challenge;
·Provides promotional and marketing presence for the Tin Cup Challenge;
·Solicits Community Challengers and Friends of the Match to add to the match amount;
·Creates and produces the Tin Cup Challenge with the help of community volunteers.
How can people in the community get involved?
Individuals may volunteer to help administer the run. They may also register to participate in the event, make a donation, or help staff a nonprofit organization’s display booth on run day.
What happens on run day?
Participants run or walk 5K, 10K, half-marathon, marathon relay or marathon in competitive or recreational categories. There are costumes, music, a free brunch and awards. All members of the community are welcome to attend.
Who provides the matching funds?
The Community Foundation raises matching funds from individuals, businesses and organizations in the community, known as Community Challengers and Friends of the Match.
What is the match percentage and how is it determined?
When all the gifts have been recorded and acknowledged – approximately four weeks after the run – the Community Foundation calculates the match percentage based on the total amount of match money raised and the total amount raised under each organization’s $25,000 cap. All eligible participating organizations receive the same percentage match on the funds they raise up to the cap. The match percentage will be announced at the Awards Party on August 22, 2011.
How are the funds distributed?
100% of all donor contributions are passed on to eligible organizations that donors recommend. The match percentage is announced and final grants are made at the awards party in August. Organizations receive money recommended on their behalf (subject to the Community Foundation’s variance power) plus a match percentage on the first $25,000 raised. Grant money is made available to all non-profits throughout the year through the Foundation’s competitive grants program. The Community Foundation assesses a fee that is used to produce the event. The competitive grants program monies and the fee are taken from match money.
