Who is eligible?
The statute limits eligibility to those nonprofit institutions with 501(c)(3) status. These organizations or any agency of local government with the primary purpose of ENLIGHTENING AND ENTERTAINING THE PUBLIC THROUGH THE PRODUCTION, PRESENTATION, EXHIBITION, ADVANCEMENT OR PRESERVATION OF:
- VISUAL ARTS
- PERFORMING ARTS
- CULTURAL HISTORY
- NATURAL HISTORY
- NATURAL SCIENCES
In addition the eligible agency must:
a. Have its principle office physically located within the District
b. Conduct a majority of its activities within the State of Colorado, and
c. Offer activities that are accessible to and principally benefit the residents of the District.
The statute does not allow funding of an agency of state government; any library; any educational institution or educational foundation; any radio or television broadcasting station or network; any cable communications system; any newspaper or magazine; nor any organization that is engaged solely in the acquisition or physical restoration of historic buildings, structures or sites.
How will organizations get funded?
Larimer County non-profit scientific and cultural organizations of all sizes that are in good standing and have been in existence for five years or more will be eligible to apply for funding once a year. Funds would be distributed by a citizen board comprised of representatives throughout the funding region and appointed by the Larimer County Board of Commissioners.
The SCFD Board of Directors would be responsible for ensuring that citizens benefit from a diverse selection of scientific and cultural activities and that there is an equitable distribution of funds throughout the district. Factors to be considered may include access and outreach, operational costs, income and attendance. The formula for distribution could be adjusted annually based upon the number of eligible agencies and their prior year success as well as the total revenue generated but would never exceed 25% of the agency revenue from this single source.
The Larimer County SCFD will manage two distinct funds:
A Sustainability Fund from which all eligible organizations, regardless of size, would receive a predetermined percentage of their qualifying revenue - equal to all others. To assure parity there would be minimum and maximum caps imposed.
An Innovation Fund to be awarded based upon competitive grants addressing new audiences, innovation, collaboration and regional initiatives.