The MFi is a non-profit 501(c)(3) public charity. Our mission is to raise private funds for public purposes in the Town of Medfield.
The Medfield Foundation works with individuals or groups seeking to accomplish needed tasks in the Town of Medfield. Those individuals or groups become a part of the Medfield Foundation, and carry on their work together around a particular need in the Town of Medfield on behalf of the Medfield Foundation, as "a Medfield Foundation initiative."
Those who wish to undertake a project that would fit within the MFi's mission should contact the MFi to set forth your ideas in general terms. The MFi will then be in touch to let you know (a) whether the project is something that the MFi may be interested in pursuing and (b) if so, to discuss the possibility of working together to accomplish our common goals. In this connection, you may wish to attend a monthly MFi Board Meeting to present your idea and to ask any questions that you may have.
The MFi Board will then vote on whether to accept your project as one of its causes. If so, three (3) members of your group would be asked to sign a Letter Agreement stating that you agree to follow our Standard Operating Procedures (updated for 2012) after you have been given an opportunity to review the foregoing to determine whether our structure is a good fit for your cause.
The group wishing to undertake your project then would become a sub-committee of the MFi and would conduct its fundraising efforts as an initiative of the MFi after obtaining any necessary advance approvals from the MFi Board. Donors wishing to support your project may request that their contributions be directed to your cause.
Monies raised and spent for your project will be accounted for in a separate sub-account of the MFi, though it is necessary for your fund, just like all of our constituent funds, to contribute to the general operating costs of maintaining the MFi and its non-profit 501(c)(3) status. MFi is an all volunteer-run organization, yet it does have certain unavoidable costs such as accounting fees, postage, etc. In the past, we have required each fund to contribute an amount equal to 1% of revenues toward these costs, but an adjustment to this contribution rate may be required from time to time. As an example, if the Fund raised $1,000 in donations, it would contribute $10 toward the MFi's operating expenses. The Board prides itself in keeping costs to a minimum in order to maximize the efficiency of donor contributions.
When a group joins the Medfield Foundation, the group functions as a part of the Medfield Foundation, but any monies raised are segregated for that particular fund and project. Technically, the group functions as a subcommittee of the Medfield Foundation. Being a part of the Medfield Foundation, the group is expected to:
If your project is accepted as a Fund of the MFi, one of our Board Members will review with you the logistics of how deposits are made, tax receipts are processed, as well as the procedures for making expenditures related to your project.
Additional Important Resources