Deadline: 1-Mar-21
Applications are now open for the First Federal Community Foundation Grant Program to improve the quality of life in the communities in which First Federal maintains full-service branches.
First Federal Community Foundation is a private 501(c)(3) charitable corporation launched in 2015 with a generous gift of stock and cash valued at nearly $12 million from the parent company of First Federal, when the bank was converted to a publicly traded company. With this gift, First Federal made clear its commitment to continue its tradition of supporting the communities it serves.
Funding Priorities
- Community Support: They contribute to eligible community and human service organizations that improve the quality of life within the communities they serve. They give priority to programs and projects that build capacity to better serve the broader community, and that benefit low- to moderate-income, disadvantaged and/or marginalized persons or families.
- Affordable Housing: They support programs and projects that build upon First Federal’s legacy of improving the availability of affordable workforce housing, and access to decent, safe, and affordable housing for low- and moderate-income, disadvantaged and/or marginalized persons and/or families in the communities they serve.
- Economic Development: They fund initiatives that encourage and expand economic development and living-wage job opportunities in the communities they serve, with emphasis on collaborative and public/private initiatives sponsored by local organizations dedicated to economic development.
- Community Development: They support capital projects that offer valuable benefits to broad segments of the communities they serve, with emphasis on collaborative and public/private initiatives featuring multiple funding sources. The Foundation appreciates naming rights on capital projects it supports.
Funding Information
While the Board may amend the amount of funding annually or by grant cycle, their current giving is as follows:
- They make grants in two annual grant cycles, one in spring and one in fall, contributing $400,000 in each cycle.
- Of that amount, $50,000 is allocated to Community Support grants and the balance allocated to Affordable Housing, Economic Development and Community Development grants.
- Community Support grants range from $5,000 minimum to a maximum of $25,000 for the purposes described above.
- Affordable Housing, Economic Development and Community Development grants range from $25,000 minimum to $100,000 maximum for the purposes described above.
Eligibility Criteria
Tax-exempt organizations under Internal Revenue Code Section 501(c)(3), including public charities as described in IRC 509(a)(1)-(4) and 170(b)-(c). Government units, school districts and tribes are also eligible to receive grants from the Foundation.
For more information, visit https://www.firstfedcf.org/grants/grant-application/