Gifts and Grants : Frequently Asked Questions
General
- Who is eligible for a grant from the Lyford Cay Foundation?
- What are your areas of focus?
- What kind of programmes do you fund?
- What programmes will you not fund?
- What is the average grant amount?
The Application Process
- How does an organization apply for a grant?
- May we request funding for a capital campaign or large construction project?
- What information must we submit along with the application form?
- What are the deadlines for submitting grant applications?
- Do you have any tips for applying for a Foundation grant?
- Where do we submit an application?
The Review Process
- What does the Gifts and Grants Committee look for when assessing a grant request?
- Does the Committee meet with the organizations asking for assistance?
- Who makes the decision to award a grant?
- How will we be informed if our grant request has been approved?
Procedures For Approved Recipients
- If a grant is approved, how soon do we need to begin our project?
- How do we receive the funds?
- Do we have to report on how we use the money?
General
Who is eligible for a grant from the Lyford Cay Foundation?
The Lyford Cay Foundation, Inc. makes grants to non-profit, civic and charitable organizations and community outreach groups serving The Bahamas. It does not make grants to individuals.
return to topWhat are your areas of focus?
Our Gifts and Grants Committee provides funding to a wide range of community projects and populations throughout The Bahamas. In general, projects targeting the emotional, educational and recreational needs of children and young adults are our primary focus.
return to topWhat kind of programmes do you fund?
The Foundation generally chooses:
- Specific programmes over general ones
- Existing programmes over start-ups
- Requests to fund capital costs rather than operating costs
- Tangible needs – e.g. equipment, physical repairs, building projects, etc.
- Targeted programmes to address specific community needs
- Programmes that will benefit the Family Islands
What programmes will you not fund?
The Foundation generally will not consider funding requests for:
- Other endowments
- General fundraising campaigns
- Indirect or overhead expenses
- Ongoing operating or administrative costs such as salaries
- Sponsorship of fundraising events
- General funding of government agencies
- General funding for places of worship
- The purchase of vehicles
- Travel and travel-related expenses
- Advertising
- Personal medical expenses
What is the average grant amount?
Our grant awards have ranged from $5,000 to $25,000. Most of them are for $10,000 or less.
return to topThe Application Process
How does an organization apply for a grant?
Organizations are required to complete a Grant Application Form and to submit documentation to support their application.
return to topMay we request funding for a capital campaign or large construction project?
Yes. However, as these are complex projects, please contact our offices a few months before you submit your application to review the necessary documentation and appropriate timing of your request.
Typically, these projects must include timelines for construction and fundraising, as well as a fundraising plan. Generally, the Foundation prefers to provide the last money for a project of this type; therefore, it is most likely that your organization will need to secure the majority of the funds needed before your application will be considered.
return to topWhat information must we submit along with the application form?
The following additional documentation is required:
- Background information on your organization, including your mission, goals and objectives
- A detailed description of the project for which you are seeking funding, including the challenges you wish to address, how you plan to meet them and your timetable for implementation
- The goals or results you expect to accomplish if you receive a grant
- Information on your governing or overseeing body
- Financial information including annual financial statements, your annual operating budget and a project budget
What are the deadlines for submitting grant applications?
Grant applications are considered in three cycles. The deadlines are as follows:
- February 1 to be considered by March 30
- April 1 to be considered by June 1
- October 1 to be considered by November 30
Applicants are encouraged to apply early, as requests are reviewed on a first come, first served basis.
return to topDo you have any tips for applying for a Foundation grant?
- Be sure to submit your application early
- Be sure to submit a complete application, supported by all necessary financial information
- Remember to sign the application form
- Do not send a generic ‘form’ letter to make your request
- Be sure to describe your project in detail. Clearly outline the challenges being addressed, who is affected by them, what you believe will happen if they are not addressed, what your specific plan is to meet them, and what other organizations you are working with, if any
- Set realistic goals or results you expect to accomplish
- Proofread! Be sure to correct any spelling or grammatical errors before submitting your application
Where do we submit an application?
The contact information is as follows:
-
By mail:
The Chairman, Gifts and Grants Committee
The Lyford Cay Foundations
P. O. Box N 7776
Nassau, Bahamas
-
By courier:
The Chairman, Gifts and Grants Committee
The Lyford Cay Foundations
Templeton Global Advisors Building
Western Road, Lyford Cay
Nassau, Bahamas
T: 242.362.4910
- By fax: 242.362.5449
-
By email:
giftsandgrants@lyfordcayfoundation.org
(for application form only)
The Review Process
What does the Gifts and Grants Committee look for when assessing a grant request?
The Committee’s comprehensive due diligence process involves careful analysis of the following:
- Organizational structure, fiscal strength, discipline and accountability
- Specifics of the programme under consideration
- The importance of the programme to the community
- Geographic and population targets
Does the Committee meet with the organizations asking for assistance?
Yes. Once an initial review of the request has taken place, the Committee moves into its research phase, which includes face-to-face interviews and site visits as well as background checks and a detailed analysis of all financial data.
return to topWho makes the decision to award a grant?
Once the Gifts and Grants Committee has completed its review of a grant request, it makes a formal recommendation to the Lyford Cay Foundation, Inc. Board of Directors. The Board is ultimately responsible for approving all grants.
return to topHow will we be informed if our grant request has been approved?
Approved grant recipients are informed of the Board’s decision in writing.
return to topProcedures For Approved Recipients
If a grant is approved, how soon do we need to begin our project?
Grant recipients are required to commence their approved project within six months of the award date. Failure to do so may result in the Foundation revoking the grant.
return to topHow do we receive the funds?
Generally, grant funds are disbursed directly to suppliers whenever possible. Depending on the nature and scope of the project, grants may be disbursed to the receiving organization for project management.
return to topDo we have to report on how we use the money?
Yes. Under the rules and regulations of the United States Department of the Treasury, which prescribes certain procedures for all American Foundations, we are obliged to oversee and review the spending of all grants. In that spirit, grant recipients are required to adhere to our formal reporting and evaluation guidelines. A Grant Reporting Form will be sent along with our letter outlining the details of our grant.
The grant reporting and self-evaluation process provides the receiving organization with the opportunity to step back and reflect on the effectiveness and outcomes of their project as well as the impact it is having on the target population. Grant recipients are asked to evaluate the effectiveness of their activities based on the goals or results detailed in their original grant application.
A completed Grant Reporting Form is required within sixty (60) days following the completion of the project and no later than six months following disbursement. Interim reports may also be requested, depending on the scope of the project.
Using the original budget presented with the application, you must provide details on the expenses and any revenue for the project along with supporting documentation.
return to top