Types of Grants
TYPES OF GRANTS
The Foundation makes both spendable and endowment grants, some of which may also contain a matching condition. On occasion, the Foundation also awards grants for the creation or strengthening of a cash reserve.
Spendable grants are to be spent according to the proposal, schedule, budget, and conditions specified in the Foundation's award letter.
Endowment grants establish institutional funds that are subject to specific spending limitations set by the Foundation and governed by applicable state law.
The Foundation will only consider requests for endowment funds from institutions that can demonstrate the financial capacity to manage the funds on an ongoing basis. Recipients of an endowment grant are to invest and manage the funds prudently and in perpetuity, with the income used to support the program or position designated by the Foundation. When requesting an endowment grant, an organization with a modest (under $100 million) endowment must provide documentation (set forth in the Foundation's grant proposal guidelines) that demonstrates its capacity to invest and manage endowment funds.
Both spendable and endowment grants may be subject to a matching requirement. Only newly received gifts of cash or securities, in hand, valued at the time of transfer, and designated for the Foundation-supported project, qualify as matching contributions. Pledges do not qualify. If the Foundation awards a matching grant, it will pay matching funds in installment amounts specified in the Foundation’s award letter.
Please note the following requirements for providing satisfactory evidence of matching funds to the Foundation:
For contributions of $5,000 or more:
- copies of all canceled donor checks, bank statements showing the transfer of funds by wire or receipt of credit card payments, and/or signed documentation verifying the transfer of securities and their market value at the time of transfer; and
- clear evidence that a donor's intent is to meet the Foundation's match, either by the donor's indication on the check, a letter from the donor demonstrating the intent, or, in the case of an unrestricted donation, a designation from the grantee's governing board, or senior authorized official, that the donation is to meet the Foundation's matching requirements.
For contributions of less than $5,000:
- a list of all such donations, including name of donor, form of donation (i.e., check, wire, credit card, security, etc.), date of donation, and amount of donation, with a signed statement from a senior authorized official restricting all donations on the list to the Foundation match. In such cases, the Foundation does not require canceled checks, evidence of wire or credit card payment, or separate documentation verifying the transfer of securities.
Further instructions for evidencing matching funds are available on the "Matching Funds Request Form" (PDF).