What You Need To Know About The Grant Cycle When Planning Your Application
On September 1st, the Grant Cycle for the New Hanover Community Endowment opened; applications will be accepted until September 22nd. The Endowment was created and funded following the 2020 New Hanover Regional Medical Center sale by the County to Novant Health. The New Hanover County Board made an investment of approximately $1.3 billion to establish the Fund for the benefit of the local community, specifically “to improve the health, education, safety and economic opportunity of every person in our community.” The mission and vision of the Fund is therefore expansive and aggressive. This year the Endowment has launched six strategic grant opportunities under Community Development, Community Safety, Education, and Social and Health Equity. With approximately two weeks left in the grant cycle, many factors must be considered by an organization when applying for an opportunity.
Determining Eligibility
Applying for a grant can be a valuable opportunity for your organization to secure funding and support for your important projects and initiatives. The first step though, is to determine if you are eligible to apply. To be eligible to apply for a grant through the Endowment fund, an organization must not only have a mailing address in New Hanover County and provide services in the county, but your organization must also fall into one of three categories.
1. First, tax-exempt 501(c)(3) nonprofit organizations encompass a wide range of charitable and community-focused groups.
A tax-exempt 501(c)(3) nonprofit organization is a legal designation in the United States that signifies a specific type of nonprofit entity recognized by the Internal Revenue Service (IRS). For these organizations or entities, they have:
- Tax-Exempt Status: The “501(c)(3)” designation refers to a section of the U.S. Internal Revenue Code. Organizations that qualify under this section are exempt from federal income tax, meaning they are not required to pay federal income taxes on their earnings or donations they receive.
- Charitable Purpose: To qualify for 501(c)(3) status, an organization must be organized and operated exclusively for charitable, religious, educational, scientific, literary, or other specific purposes that benefit the public interest.
- Public Transparency: 501(c)(3) organizations must make certain information, such as their financial statements and annual reports, available to the public. This transparency helps build trust with donors and the community.
2. Second, public or governmental entities are also eligible to apply, recognizing their important role in serving the public interest.
3. Lastly, nonprofit groups without 501(c)(3) status can still apply if they have fiscal sponsorship from a tax-exempt 501(c)(3) organization, allowing them to access grants and resources through this partnership.
These eligibility criteria ensure that diverse organizations committed to positively impacting their communities can access vital funding resources for their endeavors.
Alignment with Strategic Pillars
In general, successful grant applicants are those who demonstrate alignment with a funding organization’s mission, vision, values, and strategic objectives. Regarding the New Hanover Community Endowment, demonstrating alignment with one or more of its six strategic pillars is paramount for any organization seeking support and collaboration within this community-driven initiative. Its pillars serve as the guiding principles and goals for the Endowment’s mission and are listed below, alongside an explanation for why alignment is crucial.
- Community Impact: Aligning with the strategic pillars ensures that an organization’s efforts are in sync with the community’s broader goals, ensuring that resources are channeled towards initiatives that have a meaningful and lasting impact on the well-being of residents of New Hanover County.
- Addressing Critical Needs: The pillars highlight critical areas of need in New Hanover County, such as health equity, education, safety, and community development. Organizations that align with these pillars are better equipped to address these pressing issues, which can lead to positive and transformative changes in the community.
- Collaboration Opportunities: Organizations that share alignment with the Endowment’s strategic pillars are more likely to find opportunities for collaboration and partnership. Collaborative efforts amplify the impact of individual initiatives and can result in a more comprehensive approach to addressing community challenges.
- Transparency and Accountability: This shows that the organization is actively working towards shared community goals and is willing to be held accountable for its efforts towards achieving them.
- Long-Term Sustainability: The goal is to create a sustainable and thriving community. Organizations that align with these pillars are more likely to contribute to the long-term well-being of residents, creating a lasting legacy of positive change.
- Broad Community Support: Demonstrating broad community support (including donors, residents, and stakeholders) illustrates the support and trust from the broader community – and thus your organizations ability to represent community needs, partner with community members, and to make an impact. It also signifies a shared commitment to improving the overall quality of life in New Hanover County.
Demonstrating alignment with the New Hanover Community Endowment’s strategic pillars is a way for organizations to access potential funding and resources and actively participate in the collective effort to enhance the community’s health, education, safety, and development. It fosters a sense of unity and purpose among organizations, working together towards a brighter future for New Hanover County.
Financial Elements to Provide
In your application, you must provide some financial documentation about your organization. These are:
(1) audited financial statements for the most recently completed fiscal year or two years of operating budgets and
(2) a verified Internal Revenue Service Form 990.
The purpose of the audited financial statements and historic operating budgets is twofold: first, to provide a comprehensive view of your organization’s financial health and operations, giving grant evaluators insight into your fiscal responsibility and sustainability. Audited financial statements demonstrate that your organization manages its resources effectively and responsibly. Second, the last two years of operating budgets clearly show your financial planning and commitment to your mission. The verified IRS Form 990 confirms your nonprofit status and legal compliance, assuring grantors that their support will be utilized efficiently and in alignment with your organization’s mission. These documents are necessary to demonstrate responsible stewardship of grant funds.
Our Commitment to Your Grant Success
In pursuing the New Hanover Community Endowment Grant, remember that the expertise, experience, and commitment that you and your organization have serving your community is invaluable. Know your value and impact and communicate that to your funders. That includes (among other things) quantifying your impact and past successes and thinking big about what you can accomplish.
The hardest parts of an application can be succinctly describing your proposed project, developing an easily understood work plan that shows how the project will be operationalized, building a budget that tells a story about getting the work done and explaining the sustainability plans. Let Atrómitos be your partner in building a lasting impact! We understand your organization’s vision is a beacon of hope, and we are here to ensure it shines brightly. The journey to securing grants may be challenging. Let our expertise help equip you with the tools you need to successfully navigate the world of grant funding.
Client Spotlight
Community Health Network of Washington
Atrómitos has undertaken the task of preparing grant applications on behalf of CHNW, with the primary objective of fostering the development and expansion of its statewide digital equity program. Over the course of three funding cycles, this resulted in over $10 million to develop and expand its statewide digital equity program.
We are here to guide you every step of the way, from identifying the perfect grant and funding opportunities to crafting compelling proposals that resonate with potential funders. Our comprehensive grant and fund management services ensure that once you secure the grant, your team can efficiently navigate the requirements and achieve the desired outcomes. Let us be your partners in success, helping you bring your projects to life and making a lasting impact in your community. Reach out to us today, and let’s embark on this journey of growth and transformation together.
