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New Endowment Matching Grant Initiative

 

The Whitney Foundation is committed to building capacity for community benefit organizations. Building endowments is an important part of ensuring that positive changes in our communities are sustained into the future. With that in mind, the Foundation announces a new Endowment Matching Grant Initiative.

We anticipate this round of funding may be one of the final initiatives funded by The Whitney Foundation. We believe funding the future through an endowment matching initiative is a fitting tribute to Kathryn Whitney Stephens’ philosophy of “sharing what has been given to you”.

 

Announcement

 

The Whitney Foundation Endowment Matching Grant Initiative

To inspire an investment in long-term sustainability, The Whitney Foundation is offering this challenge grant to help strengthen your organization’s work in your community. These matching grants requests are only for endowment support or the organization (not for projects, capital campaigns, general operating or salaries).


The Board of The Whitney Foundation has allocated a pool of $250,000 for this initiative. An organization can request up to $25,000 in support for their endowment. The Whitney Foundation's support MUST be matched dollar for dollar by the CBO with gifts obtained during the grant period which is no more than one year from the award date.


The Whitney Foundation will place a high priority on endowments which are invested in Socially Responsible funds and has a preference for ESG and local investing. Applicant organizations are asked to provide documentation of their investment strategies for the endowment and the match.

Matching Funds may be demonstrated by either “cash” or “evidence”.

- Definition of "Cash": Demonstration of funds received (Receipts; Bank Statements; Tax Receipt Letters etc.).

- Definition of "Evidence": Documentation supplied by the funder of pledged funding (foundation pledge letter; private donor; contract).
Contribution of time or other in-kind contributions are not considered eligible.

 

Eligibility

1. Eligible organizations are 501c3 organizations operating in the Central Valley, CA, Salt Lake City, UT and Boise, ID.

2. Alignment with the values and mission of The Whitney Foundation and its founder(s). The Whitney Foundation will give preference to those organization's whose mission aligns with that of The Whitney Foundation.

3. Evidence of long-term budget sustainability, such as an authentic strategic plan with indications of budgeting benchmarks. A balance of funding sources.

4. The applicant indicates a commitment to socially responsible investing, aka, impact investing for the endowment funds.

5. A track record of community engagement, including evidence of client's voice in planning, programming, and development.

6. An organizational commitment to diversity, equity, and inclusion, as evidenced by policies, staffing, volunteer engagement and board composition.

 

Amounts and Timeline

The Board of The Whitney Foundation has allocated a pool of $250,000 for this initiative. An organization can request up to $25,000 in support for their endowment. The Whitney Foundation Endowment Grant AND the organization’s match combined must not exceed 25% of the organization’s 2016 budget.

1. Submit your application by end of day October 30, 2017.

2. Award decisions to be announced February 1, 2018.

3. Deadline for submission of cash and evidence documentation is November 1, 2018. If awarded, cash and evidence documentation can be submitted anytime. Disbursements will be made upon approval of cash and evidence documentation.

 

Reporting Requirements

Your organization will be asked to submit an annual report on endowment performance on the anniversary of the award date.

 

Online Application Link