That is exactly what we did. We received a large non-federal gift during the first year of our Title III grant, but we had to wait to draw down the federal matching for that gift on October 1 of each year, which was the first day that each year's federal installment was available to us. it is my understanding that the federal funds are available only an annual basis in the amounts awarded each year based on Congressional appropriation for that year, so even if we receive all of the non-federal gifts in year one, we have to draw down the match as it appears in the federal grant budget. In our case, that meant drawing down the federal portion in five installments, as it was budgeted in our federal grant budget.
 
Susan Kelley
[log in to unmask]
Vice President, Institutional Advancement
Valencia Community College
P. O. Box 3028, Orlando, FL 32802
(407) 582-3417 - direct phone to office of Institutional Advancement

>>> [log in to unmask] 12/14/2004 3:02:30 PM >>>
So we can draw down the first years budgeted amt- the initial $60,000 - when we have the matching funds in hand,  then draw the next $80,000 at the start of the next fiscal year (provided we have matching cash in hand)
----- Original Message -----
From: [log in to unmask] href="mailto:[log in to unmask]">Berryman, Bruce F @ LSC
To: [log in to unmask] href="mailto:[log in to unmask]">[log in to unmask]
Sent: Tuesday, December 14, 2004 9:44 AM
Subject: Re: Endowment Challenge

I think you need to wait (that's what we do and this is the thrid T-III grant for the person who is in charge of that part of the grant) . 
 
 

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Dr. Bruce F. Berryman, Chairperson
Department of Meteorology
Lyndon State College
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Lyndonville, VT 05851
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-----Original Message-----
From: US Department of Education Title III List Server [mailto:[log in to unmask]] On Behalf Of Deb Erikson
Sent: Tuesday, December 14, 2004 10:09 AM
To: [log in to unmask]
Subject: Endowment Challenge

As a part of our Title III grant, we have an Endowment Challenge to raise $350,000 over five years.  These monies are then matched through that component of the Title III.  My question is this - if our first year budget has $60,000 available for matching cash funds, and we raise $200,000 this year, do we just draw down the $60,000 when we have cash in hand and then wait until the next fiscal year and continue with matching those first donations? 
 
 
Deb Erikson
Title III Coordinator
Allen County Community College
(620) 365-5116 x213