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Submitting Foundation
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Foundation Name:
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New York Community Trust
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Address:
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2 Park Avenue
New York, NY 10016
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Phone:
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212-686-0010 x 552
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Fax:
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212-686-0010
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Website URL:
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www.nycommunitytrust.org
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Founded:
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1924
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Submitted By:
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Joyce Bove
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Title:
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Senior Vice President
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E-mail Address:
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jmb@nyct-cfi.org
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Practice Example Details
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Applicability:
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All community foundations
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Methodology:
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Unrestricted fund grantmaking
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Standard:
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A community foundation awards some grants from its discretionary resources through open, competitive processes that address the changing needs of the community.
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How does this practice
meet the applicable standard?
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Six times a year the Trust awards
grants through a competitive process under four priorities that have been chosen by expert advisory panels to address the core needs of the recipient communities.
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Briefly describe the practice,
including key elements:
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The New York Community Trust
distributes around $30 million a year in grants from its discretionary resources under four program areas:
• Children, Youth and Families
• Community Development and the Environment
• Education, the Arts and Humanities
• Health and People with Special Educational Needs
The average grant size is $52,000 though grants range from $5,000 - $100,000.
At the start of each fiscal year, the Board determines the amount of money that will be available for distribution. The Trust does not formally split the budget into the four program areas, but rather allows the applications and need from the grant seeking sector to lead the distribution of funding.
Applications are received throughout the year as there is no deadline and no letter of inquiry. Application guidelines and Proposal Cover Sheets are available from the Trust website, where most grant seekers are directed.
When an application has been received, it is logged into the Trust database on a weekly basis and allocated to the relevant Program Officer. All Program Staff are specialists in one of the four priority areas. If the application does clearly not meet the eligibility criteria, it is considered an office reject. These applicants will receive a letter of rejection without being further assessed.
Other applications are assessed by the Program staff. This assessment process might include a site visit or additional telephone conversations. If the application is not recommended to be considered for short listing, staff write a short memo detailing the main reason for rejection. There is a set list of rejection criteria by which staff recommend rejections.
Applications that will be considered for funding are written into a 2 page report, including key financial details. The financial reviews of applicants are undertaken by the Finance Department of the Trust which makes full reviews on a five year basis: that is, a new applicant will have a full financial assessment made and this assessment will support any other application made by that organization in the following five years.
All recommendations for rejection and for funding are first sent to the Senior Vice President for Program who reviews before sending to the President. Finally, the reports are passed to the Board who make the final decisions at the bi-monthly Board meetings. There is no separate grants committee.
Successful applicants are notified by telephone the day of the Board meeting and sent an awards letter with grant conditions. Most grants are distributed in 6 monthly installments with reports required before any release of funding is made. Unsuccessful applicants are sent a letter, but are not given the reason for rejection.
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What method is used for
monitoring and measuring outcome?
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The program is constantly being
monitored internally to ensure that it is providing a swift and professional grants program that supports applicants as much as possible in applying for funding. Changes, when identified, are implemented in discussion with the Board.
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What were the results?
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It is hoped that the result is an efficient and effective grants program that sees target investment in the communities served by the Trust.
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