Allocation of Funds
Each year, the Worthy Grand Matron and Worthy Grand Patron, the presiding officers of the Grand Chapter of Ohio, determine how non-directed funds received by the Charitable Foundation will be allocated to the various charities and projects supported by the Grand Chapter of Ohio.
The graphic below represents the 2019-2020 allocations for "Symphony of the Stars" year.
Per their directive, the Sunshine Collections from the Chapter Installations are to be sent to the Charitable Foundation. As a special project, Chapters will also send to the Foundation $1 "D" bills that are collected for Diabetes Research.
This year, Heart donations go to Nationwide Children's Hospital in Columbus, Cancer to The James Cancer Hospital and Solove Research Center at The Ohio State University, and Diabetes to Ohio University Osteopathic School of Medicine Diabetes Research.
The graphic below represents the 2019-2020 allocations for "Symphony of the Stars" year.
Per their directive, the Sunshine Collections from the Chapter Installations are to be sent to the Charitable Foundation. As a special project, Chapters will also send to the Foundation $1 "D" bills that are collected for Diabetes Research.
This year, Heart donations go to Nationwide Children's Hospital in Columbus, Cancer to The James Cancer Hospital and Solove Research Center at The Ohio State University, and Diabetes to Ohio University Osteopathic School of Medicine Diabetes Research.
Distribution of Funds
At the end of each fiscal year, the funds received throughout the year are distributed in accordance with the donor's and/or the Grand Chapter of Ohio's directives.
Operating Expenses
The Charitable Foundation has limited expenses, primarily postage, printing, supplies, and professional fees.
The Charitable Foundation allocates 3% of funds received toward operating expenses. At the end of the fiscal year, excess operating funds are redirected to savings and/or endowment.
Charity rating organizations grade nonprofits partly on how much they spend on these expense categories. For example, CharityWatch.com says that it’s reasonable for most charities to spend up to 40% of their budget on operating expenses—in other words, at least 60% should go to programs, and 40% should go to everything else. However, charities that spend less than 40% get higher grades from CharityWatch, with those spending 25% or less on operating expenses receiving the highest “A” grades. Charity Navigator, which employs a sophisticated rating system, gives bonus points to nonprofits with lower operating expenses. Most nonprofits that spend more than 30% of their budget on overhead get no bonus points. The Better Business Bureau says that no more than 35% of a nonprofit’s budget should be spent on operating expenses.
The Charitable Foundation allocates 3% of funds received toward operating expenses. At the end of the fiscal year, excess operating funds are redirected to savings and/or endowment.
Charity rating organizations grade nonprofits partly on how much they spend on these expense categories. For example, CharityWatch.com says that it’s reasonable for most charities to spend up to 40% of their budget on operating expenses—in other words, at least 60% should go to programs, and 40% should go to everything else. However, charities that spend less than 40% get higher grades from CharityWatch, with those spending 25% or less on operating expenses receiving the highest “A” grades. Charity Navigator, which employs a sophisticated rating system, gives bonus points to nonprofits with lower operating expenses. Most nonprofits that spend more than 30% of their budget on overhead get no bonus points. The Better Business Bureau says that no more than 35% of a nonprofit’s budget should be spent on operating expenses.
Funds Distributed in 2019
The Charitable Foundation received $88,008.36 in donations for the fiscal year ending July 31, 2019. The funds were distributed, as follows. The Charitable Foundation Operations represents the 3% allocation plus directed donations toward operating expenses. All others are a combination of directed and non-directed funds.
The Cancer funds were distributed to the James Cancer Center in Columbus, Ohio. The Heart funds were divided equally between the Pediatric Heart unit of Cincinnati's Children's and the Heart and Vascular unit of Cleveland Clinic.
The Cancer funds were distributed to the James Cancer Center in Columbus, Ohio. The Heart funds were divided equally between the Pediatric Heart unit of Cincinnati's Children's and the Heart and Vascular unit of Cleveland Clinic.
