The Building Fund supports the operation and maintenance of any buildings, property, and other facilities owned or used by USSVI. The USSVCF Building Fund Manager exercises day-today management of the Building Fund under the supervision of the Foundation’s Executive Director.
The USSVCF Building Fund Manager is a USSVCF Board Member to whom the Board has delegated authority to act on the Board’s behalf to manage the day-to-day affairs of the Building Fund. The Fund Manager has authority over, and responsibility for all donations to the Building Fund, and is responsible to ensure that all expenditures in that category comply with IRS regulations for charitable public benefit. The USSVI / USSVCF National Office receives and records all donations. The USSVCF Treasurer keeps the Fund Managers informed of Fund status and writes Building Fund checks as authorized by the Building Fund Manager.
The USSVCF Building Fund Manager is a USSVCF Board Member to whom the Board has delegated authority to act on the Board’s behalf to manage the day-to-day affairs of the Building Fund. The Fund Manager has authority over, and responsibility for all donations to the Building Fund, and is responsible to ensure that all expenditures in that category comply with IRS regulations for charitable public benefit. The USSVI / USSVCF National Office receives and records all donations. The USSVCF Treasurer keeps the Fund Managers informed of Fund status and writes Building Fund checks as authorized by the Building Fund Manager.
Contributions to the Building Fund
Donations may be made on this website, www.ussvcf.org using any credit or debit card and designating the Building Fund in the optional selection box. Alternatively, donations to the Building Fund may be made by check payable to the United States Submarine Veterans’ Charitable Foundation (USSVCF). Write “Building” Fund in the “Memo / For” field of the check.
How to request a grant of charitable program funds (Building Funds).
How to request a grant of charitable program funds (Building Funds).
- The building fund is designed to assist with the operation and maintenance of property owned by or used by USSVI for purposes of fulfilling our creed.
- Requests for grants from the Building Fund should be sent to the USSVCF Building Fund Manager for consideration. The Building Fund Manager has authority to approve grants up to $3,000. He must obtain Board approval for any grant that exceeds $3,000.
- There are no specific request forms but adequate supporting documentation must be submitted when the request is made to the USSVCF Building Fund Manager.
The Building Fund Manager will evaluate all grant requests to ensure that any grants are consistent with Item A above. all expenditures in that category comply with IRS regulations for charitable public benefit The Building Fund Manager will report all approved disbursements to the CF Board at least quarterly, unless prior Board approval was required.
Project Accounts within the Building Fund.
Building projects can be expensive, and it may take several years to accumulate sufficient funds to start a significant project. If USSVI or one of its Bases wants to initiate a substantial construction or renovation project and wishes to set up a project account for donors to make tax deductible donations to that project, the local project manager
(usually a local USSVI Base member) will, at a minimum, provide the following
information to the Building Fund Manager:
(usually a local USSVI Base member) will, at a minimum, provide the following
information to the Building Fund Manager:
- Name and phone number of the Local Project Manager.
- Name of the project
- Location of the project
- Estimated total cost of the project
- USSVI or Base Commander approval is required and may be submitted via e-mail to the Building Fund Manager,
Upon receipt of this information the Building Fund Manager will submit a request to the CF Board to establish a Building Fund sub-account in the project’s name. Subject to Board approval, the sub-account will be established and will appear as a Building Fund sub-account on the Treasurer’s monthly Fund Balances report. (Example: Building - Silverdale tenant improvements) The local project manager will be responsible to notify any potential donors that their checks must be made payable to USSVCF and to use the Memo / For field on the check to specify the Fund (Building) and Project (Silverdale tenant improvements) to receive the donation. The local project manager may wish to use the project’s USSVCF sub-account to accumulate over an extended period of time the money for the project. All funds withdrawals from the USSVCF require approval of
the applicable Fund Manager, and the Building Fund Manager has a $3,000 limit on his grant approval. The $3,000 limit does NOT apply to withdrawals of project sub-account funds required to pay project invoices that have been approved by the local Project Manager
the applicable Fund Manager, and the Building Fund Manager has a $3,000 limit on his grant approval. The $3,000 limit does NOT apply to withdrawals of project sub-account funds required to pay project invoices that have been approved by the local Project Manager