Grants are awarded to tax-exempt organizations (IRS Section 501(c)(3)) and qualifying political subdivisions. Private foundations (IRS Section 509(a)) are not eligible.
Priority is given to organizations serving the Alleghany County, Covington, and Clifton Forge areas with an emphasis on new and different endeavors to improve the community’s quality of life.
No. The foundation does not provide funding to individuals, only to charitable purpose organizations or to public sector entities as described in the section on Eligibility Criteria.
The Foundation seeks applications in key focus areas with the goal of building upon the region’s wonderful assets to provide dynamic opportunities for all its residents. Proposals should contribute to the Foundation’s strategic areas of focus for grant, including the VISION 2025 Initiative.
Although the Foundation has not established inflexible limitations upon the purposes for which it will award grants, in general, grants will not be made for debt reduction, endowment funds, or ongoing general operating expenses or existing deficits.
In addition, requests that are not of a recurring nature are given preference.
Special consideration will be given to applications that demonstrate the ability to leverage Foundation funding with public and other ongoing financial support. The Foundation seeks to be a catalyst for projects but not to supplant other public or private funding sources.
Matching funds is a term indicating that an organization will raise non-foundation funds at a defined ratio to funds contributed by the foundation. Matching funds are typically at a rate of one dollar to one dollar but, rates may vary. Some applicants seek matching funds to augment funding the organization has already secured from other sources. Some applicants seek matching funds to match an application to state or federal funding entities. Though not required, providing matching funds is highly encouraged, because there are many requests for foundation funding, and the board seeks to leverage funds from other sources as much as possible. In addition, the board reserves the right to add a “matching fund” requirement as a condition of awarding a particular grant. The match ratio and other specifics would be included in the grant award letter.
The Foundation may itself initiate grants to an organization that reflects the board’s particular interest in an area it believes requires additional focus to better serve the community. Potential grantees must meet all Foundation guidelines and requirements.