KRS 147A.320: Capacity building grant program -- Challenge grant program --

Administrative regulations -- Annual report.

(1) The Department for Local Government may:

(a) Establish a capacity building grant program, through which it may provide

qualified community foundations, county -specific component funds, and

affiliate community foundations with grants from the fund for the purpose of

developing and enhancing the receiving foundation's capacity to operate and

execute its mission, subject to the following restrictions:

1. No qualified community foundation, county-specific component fund, or

affiliate community foundation may receive more than one (1) capacity

building grant during any fiscal year;

2. No single capacity building grant shall exceed fifty thousand do llars

($50,000); and

3. At least forty percent (40%) of funds awarded as capacity building

grants shall be provided to newly established or emerging qualified

community foundations, county -specific component funds, or affiliate

community foundations that s pecifically seek to address the needs of

rural areas of the Commonwealth;

(b) Establish a challenge grant program, through which it may provide qualified

community foundations, county -specific component funds, and affiliate

community foundations with grants from the fund for the purpose of building

community-based unrestricted endowment funds by encouraging individuals,

businesses, and other organizations to provide endowment gifts, subject to the

following restrictions:

1. No qualified community foundation, county-specific component fund, or

affiliate community foundation may receive more than one (1) challenge

grant during any fiscal year;

2. Challenge grants may be provided in amounts not to exceed fifty percent

(50%) of the amount of privately donated en dowment gifts provided to

the receiving qualified community foundation, county -specific

component fund, or affiliate community foundation during the one (1)

year period preceding the grant award. However, no single challenge

grant shall exceed five hundred thousand dollars ($500,000); and

3. At least forty percent (40%) of funds awarded as challenge grants shall

be provided to newly established or emerging qualified community

foundations, county -specific component funds, or affiliate community

foundations that specifically seek to address the needs of rural areas of

the Commonwealth; and

(c) Promulgate administrative regulations in accordance with KRS Chapter 13A

to administer this section.

(2) Upon the establishment of any grant program under this section, the Department for

Local Government shall provide an annual report to the commission, which shall

include:

(a) The total number of grant requests submitted during the year, along with the

amount of funds requested and the identity of the foundation making the

request; and

(b) Information regarding all grants actually awarded during the year.