JCB As Agent for Not-for-Profits and Foundations

Even not-for-profit organizations need help managing their finances.

JCB can act as agent for your organization, possibly for some specific purpose, such as investment management, or to generally manage the financial matters of your organization.  As Agent for your organization we can safe-keep and manage assets, conduct banking and other financial transactions, invest your money, collect income, pay bills, see to tax preparation and prepare periodic financial reports for your review.


What is an Agent?

An Agency Agreement is a contractual agreement through which you delegate authority to JCB to act as agent for your organization, possibly for some specific purpose, such as investment management, or to generally manage the financial matters of your organization. As Agent for your organization we can safe keep and manage assets, conduct banking and other financial transactions, invest your money, collect income, pay bills, see to tax return preparation and prepare periodic financial reports for your review.

How can my organization benefit from this service?

  • Time
    Many times the directors or managers of a not for-profit organization are volunteers who are dedicated to the purpose of the organization. These volunteers are happy to give of their time and talents to further that purpose. By assigning the responsibility for many administrative tasks to JCB as your Agent, significant time is returned to your volunteer members to dedicate to your group’s real purpose.
  • Continuity
    Benefits are also found in continuity of record keeping and reporting methods, as responsibility for these duties can remain with JCB on a longterm basis rather than passing to a new volunteer every year or two.
  • Results
    Considering our expertise as investment managers, our constant monitoring of your assets and our access to a wide variety of investment vehicles, many organizations have found that the financial benefits of these arrangements more that pay the cost.
  • Experience
    JCB is experienced in assisting with the financial affairs and general administration of not-for-profit corporations, private foundations, church foundations and endowment funds, cemetery perpetual care funds, charitable trusts and similar organizations. Our experience and knowledge of requirements for the successful and compliant operation of these organizations are often very helpful to their members.

What are JCB’s obligations to my organization?

As Agent, we are a fiduciary, required to act in the best interest of your organization, with strict standards of honesty, loyalty and candor. We keep accurate and complete financial records of activities and provide you with periodic accounting statements that include all transactions during the period as well as current asset values.

How do I establish an Agency Agreement with JCB?

We provide the documents required to establish an Agency Agreement. You are welcome to have the document reviewed by your groups governing board, officers or attorney. We can use a customized agreement or document when that is appropriate.

Trust Services Solutions

Use these tools to learn more about the valuable services JCB can offer your not-for-profit organization.

CONTACT ONE OF OUR TRUST OFFICERS TO LEARN MORE!

Meet Your Trust Officers

JCB's Trust Officers have the experience and knowledge to guide your financial decisions. Contact one of our Trust Officers to learn about our services.Select a photo for contact information.

George F Spray

George F. Spray, CTFA

Senior Vice President

jc bank 812-524-4436 800-204-6477 x 4436

jc bank Email George

George F. Spray, CTFA
Brandon L Hunsley

Brandon L. Hunsley, CTFA

Assistant Vice President & Trust Officer

jc bank 812-524-4411 800-204-6477 x 4411

jc bank Email Brandon

Brandon L. Hunsley, CTFA
Denise_Siefker

Denise Schneider Siefker

Assistant Trust Officer

jc bank 812-524-4482

jc bank Email Denise

Denise Schneider Siefker