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Member Challenge Fund FAQ’s:
- What is a Member Challenge on Colorado Public Radio?
Once or twice a year, we ask existing members who have already made a pledge to give an additional gift for the Member Challenge Fund. These additional gifts go into an escrow account until they are matched.
Then, during each pledge drive we have a variety of Member Challenges to encourage new donors to join Colorado Public Radio. These include the Warp Drive and other various challenges during the drive. Only when the terms of that challenge are met, are the funds moved from the escrow account and into our operating funds to be used to pay for programming expenses.
- Don’t you really just spend the money, even if you don’t meet a Member Challenge?
No, if the terms of a challenge are not met, the funds stay in escrow. During the next pledge drive we will try another challenge to see if those funds can then be matched. Each challenge stands on its own. Only when those terms are met, are the funds released from escrow and used to support the programming you value on Colorado Public Radio.
- How does CPR account for monies in the Member Challenge Fund and incoming matching gifts?
When letters are mailed with an appeal for the Member Challenge Fund, the response device has a “source code” that alerts us to put those funds in the Member Challenge Fund escrow account.
During a pledge drive, when a particular challenge is issued, any funds that are raised during that time-period are designated as such. If the terms of the challenge are met, Member Challenge Funds are moved from escrow. The monies donated during the drive challenge, however, go immediately into operations, whether the challenge is met or not.
- How much money is generated for the Member Challenge Fund?
In fiscal year 2011, we raised $226,000 for the Member Challenge Fund. During the pledge drives, we matched $196,000 of that. That left $30,000 that rolled over into the current fiscal year.
- How much money is generated from donations in response to the Member Challenge Fund?
In fiscal 2011, $370,000 was generated in pledges from Member Challenges during all three pledge drives (October, February and June).