10/31/2022 0 Comments Post and courier![]() ![]() ![]() The Lowcountry Food Bank is committed to feeding more than 200,000 individuals every year who struggle to access nutritious food and provides educational resources to encourage an active and healthy life throughout the 10 coastal counties of South Carolina. Since 1983, the Lowcountry Food Bank has led the fight against hunger in our community. Annually, the Good Cheer Fund receives a prorated share of the interest, dividend and capital gains of the managed fund, attributed to the Restricted Fund, which is deposited into the Good Cheer Fund and distributed along with the other funds to the agencies. The funds are recorded as a “Restricted Fund” of The Post and Courier Foundation and are deposited with the Foundation. The Good Cheer Fund has been the recipient of several endowment gifts from estates. POST AND COURIER REGISTRATIONThe accounting is combined annually with that of The Post and Courier Foundation for the purpose of registration and compliance with federal tax regulations. In practice, The Post and Courier Foundation actually disburses the funds to the agencies on behalf of the Good Cheer Fund, the Good Cheer Fund providing reimbursement to The Post and Courier Foundation. The Fund has its own bank account and funds received are deposited to that account, providing separate accountability for Good Cheer Fund receipts, and the funds are not commingled with any other funds of the newspaper. The Good Cheer Fund is registered in the State of South Carolina as a part of The Post and Courier Foundation. One hundred percent of the donations made to the Good Cheer Fund are distributed to the seven agencies, with no overhead or administrative costs consuming any of the contributions. ![]() Principal funding comes from individuals and businesses in the community who respond annually to the newspaper articles written during the holiday season. ![]()
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