Deadline: 02-Aug-21
The Hayswood Foundation has announced grants program that serves non-profit organizations located or operating in the north-eastern Kentucky counties of Bracken, Fleming, Lewis, Mason, and Robertson, and the south-eastern Ohio counties of Adams and Brown.
Projects submitted for funding consideration must promote mental or physical health, or education. Since its inception, the grant program has awarded over $9 million for projects both large and small.
Types of Grants
Matching Grants
A conditional or matching grant is one in which the recipient organization must first raise donations for the project stated in the grant application. Those donations are then matched by the Foundation.
Matching grants may be given for a single year, or for multiple years if the funds are to be used for a major capital purpose.
Before funds can be distributed, the recipient organization must provide satisfactory proof that qualifying donations have been received for the Foundation to match.
The nature of this accounting can vary, and will be established by the Foundation on a case-by-case basis. The following types of donations are considered “qualifying:”
- Cash;
- Marketable, publicly traded securities; and
- Land, with the value evidenced by a recent appraisal.
Major Capital Grants
A “major capital grant” is any grant used for major capital construction or improvement, with a dollar amount that exceeds the 10% guideline discussed above. They are subject to the following additional conditions:
- The amount granted can be no more than 1/3 of the total cost of the capital project;
- The grant must be distributed on a matching basis, with the Foundation providing $1 for every $2 raised by the grantee; and
- The funding period will generally not exceed five years.
Eligibility Criteria
- Organizations must be recognized by the Internal Revenue Service as able to receive income tax deductible contributions from individuals. Applicants must provide a copy of their IRS determination letter to support their status. Status most be in place by the application deadline. Preference is given to applicants with 501(c)3 status, and to those not receiving financial support from a tax base.
- Organizations must either be located in the Foundation’s geographical service area (Adams and Brown Counties in Ohio; Bracken, Fleming, Lewis, Mason, and Robertson Counties in Kentucky), or provide proof that all funds received will be used for the benefit of citizens of any part of this area.
Ineligible
- Grants will not be made for programs involving political indoctrination or action, or which predominately involve social or religious indoctrination or action.
- Grants are not made to or for the benefit of individuals, but only to recognized tax-exempt organizations.
- No portion of any grant may directly benefit any officer, director, or member of any recipient organization, except in a manner that would indiscriminately benefit other members of the class to be served.
- Grants will not be made for the purpose of funding endowment funds. Preference is given to projects that do not benefit tax-supported entities.
For more information, visit https://www.hayswood.org/Grant_Program.html