The board and staff of the Selby Foundation are grateful to award capital grants to nonprofits in our 4-county region, enhancing their ability to make a difference. We take this responsibility seriously and make the best decisions we can based on the funds available. We deeply respect all organizations that take time to apply and to share their latest mission-based accomplishments with us.
When we do award a grant, part of our work and the grantee’s work is stewardship of the funds granted.
The Selby Foundation is unique; our grants support specific capital needs requested by nonprofits instead of programmatic or operating funds. In discussions with our sector’s leaders, we continue to hear that nonprofits find this support valuable because it can be challenging to secure in other ways. It also means that grants we award are not for general purposes–they are specific to the capital need requested by the organization.
So what happens after a capital grant is awarded? Organizations sign a contract. The contract is simple, no more than a page or two.
- The organization agrees to spend funds on the capital need it asked us to invest in.
- If anything changes about the item(s) requested or there are significant variances in cost, the organization will alert us before funds are spent.
- We do not fund reimbursements for items that the organization purchased prior to learning that they were awarded the grant.
- A simple grant report is due no more than 1 year after the funds are awarded (or 6 months for Small and Mighty “SAM” grants).
Here’s what nonprofits can do if they are awarded funds and something changes.
First, do not sign the contract if your organization decided to purchase items you requested before receiving notice of the grant award. As we note, the Selby Foundation does not reimburse for funds already spent.
Second, after you are notified of your grant award, sign the contract, and receive the funds, we recommend using your capital funds (as specified in your proposal) as soon as you can. Tariffs, inflation, and unexpected price changes can impact your budget.
Third, if adjustments need to be made to your specific request based on emerging knowledge about your project, please let us know. The Foundation’s board of directors approves grant requests based on the specific capital need and estimates you provided. It’s usually quick and easy to approve an adjustment if the purpose is still the same and your organization will receive the same value as it proposed in the original grant request. We know sometimes things come up. Just ask us.
Fourth, submit your report on time. The report requirement is simple: payment receipts for the capital needs we funded and a short narrative about the difference this investment made (or will make) for those you serve or for your team. A spreadsheet is provided to help with organizing multiple payments or receipts.
The best part of receiving a grant is seeing its impact and knowing that everyone is excited about the outcome. This prepares both the Selby Foundation and the grantee for future support. We know the work of nonprofits is hard enough, and we want to make it easier. It can be when we both agree to simple terms at the beginning.
To learn more about upcoming grant cycles or discuss your current grant, email Grants Manager Elizabeth Power at EPower@SelbyFdn.org. We would love to talk to you!