Mountains in Clouds

DREAMERS WANTED

HOW TO GET STARTED

November Grants Now Open!

World Cup Dreams is ready to award 16 $1,500 scholarships to athletes this November. 

 

The grant application period will be from November 1 - November 15 and grant decisions will be made by Dec. 1st 

 

GENERAL COMMENTS

Financial need is one of the main issues facing many upcoming athletes.  WCDF helps athletes raise money for their expenses providing back-end support, but does not raise money directly for specific or individual athletes.  All funds to go to WCDF, which will then determine grant recipients. World Cup Dreams Foundation (WCDF) exists to support, protect and inspire athletes.  We do not want to see a lack of funding stand in the way of athletes reaching their full potential.  

Donations go directly to WCDF (not the athlete), we can only grant money to athletes who have documented financial need (shown in the application).  WCDF can issue grants on behalf of athletes directly to US Ski and Snowboard, which has several benefits (Tax issues, NCAA eligibility, etc.) or if your expenses are outside of US Ski and Snowboard, we can issue grants directly. 

Using WCDF to raise money provides a tax benefit for the donor, which can be enticing to donors.  Donors tend to give more to a 501(c)3 non-profit and some donors donate through funds or trusts that can only donate to a registered non-profit.  In order to do this properly, the correct process must be followed for WCDF to remain compliant with IRS regulations. 

Eligibility:

World Cup Dreams Grants are intended to help high-level athletes stay on track to perform on the world stage for the United States and they offset the costs associated with training and competing. 

 

Applicants must compete for the U.S. in alpine, cross-country, freestyle or freeskiing and must be a 2007 birth year, or older. 

APPLY HERE:

Submit this application form to apply for the November Grant.

 

FAQS

How do I get my money?  When you have received a donation and have an application on file and have expenses (documented need), we can issue a grant.  Usually the best way is directly to a governing body (ex. US Ski and Snowboard on behalf of the athlete.)  We can also issue directly to the athlete.  If there is on-going need or long term fundraising, grants will be issued upon request.  We will issue grants based on the budget estimates that you provide in the application to either the athlete or the governing body.  WCDF is NOT a bill pay service. We would prefer not to issue grants for specific items- airline tickets, equipment purchases, etc... Instead we issue grants based on the budget estimates that you provide in the application to either the athlete or the governing body.  This way you can receive funds in advance of expenses the accounting is less time consuming.

How can I keep my expenses low - 9% vs 10.5%?

We recommend that the athlete send out the thank you notes and include the official donation acknowledgment from WCDF for the donor’s tax purposes.  If the athlete commits to doing this, WCDF extends the time savings to the athlete and reduces the amount retained to 9%.

Does every penny that is raised go to the Athlete?  Not Necessarily.  All funds that you raise go directly to WCDF.  We do not “pass through” funds to individuals. This is strictly prohibited by the IRS.  We carefully track donations that come in with the donor’s desire to help specific individuals, and then evaluate the needs and the qualifying criteria of those individuals.  After a thorough review of all criteria, WCDF determines whether we can issue a grant to a specific athlete.  If it is important that all funds you raise go directly to a certain athlete, you should not work with WCDF.  You can always fundraise directly without seeking non-profit status for the proceeds.

Are donations tax deductible? WCDF is a 501(c)(3) non-profit organization and donations are tax deductible in compliance with all applicable IRS regulations.  Every donor to WCDF will receive a letter with our federal tax ID number on it.  They should keep the letter for documentation and consult their tax advisor about the deductibility of the donation. ***Donations from Parents/ Family of the athlete CANNOT be run through the foundation***

What help does WCDF provide for Athlete fundraisers?  We can set you up with a “Donate now” (PayPal) button on for your website, and we can process checks, cash and provide an easy way to track your donations.  Donations can be made through our website as well.  We will also provide all the advice we can.  If you are planning an in-person fundraising event, contact us for other options.

What are some of the details of running fundraising? Checks need to be made out to “World Cup Dreams Foundation” (NOT the name of your event. NOT the name of the person for whom you are fundraising.) You may add the individual’s name in the memo line of the check.  When promoting the event, please use terms like- “benefiting WCDF and Athlete X” or “Beneficiaries include Athlete X.” Please avoid statements like “All proceeds go to Athlete X.”

Why does WCDF keep a percentage of donations? Our costs, including time to properly process a tax-deductible donation, accounting, tax preparation, etc. exceed the 9%-10.5% we “retain” if we were to back-out our expenses.  Quite simply, it is not free to run a non-profit entity.  We offer this as a needed service for athletes. 

Who runs the Foundation? Tommy Biesemeyer is the executive director.  For any questions please email tommyb@worldcupdreams.org