May 1, 2008

70 Foundations Make Grants Easier To Get

More than 70 foundations that distribute $350 million annually and whose trustee or grant-making agent is Bank of America will be participants in an online system to allow nonprofits to search and apply for grants.

Bank of America Philanthropic Management's new system offers search and online access to detailed information about an array of foundations, according to the organization.

The company redesigned and broadened the capabilities of its public-facing "Search for Grants." It provides nonprofits with a single point of access to online resources in support of these organizations' fundraising efforts.

The enhancements made to the "Search for Grants" site improve nonprofit organizations' online grant research and application experience, increase fundraising efficiency, and offer greater overall awareness of the private foundations managed by the company, according to the firm. They include:

• Find a Foundation -- Search for a foundation by individual criteria, such as name, geographic coverage area, and focus area, including arts and culture, education, health and human services, among others. Advanced search capabilities allow nonprofits to further narrow their search by combining criteria, such as region and focus area (i.e. Connecticut and Education)
• Single point of access - Gather information about each foundation through a consolidated portal that allows nonprofits to quickly determine a foundation's mission, regional application procedures, proposal deadlines, contact information, and whether or not their organization might qualify for a grant based on the foundation's application criteria.
• Grant-Making History - To help nonprofits gain a better understanding of client foundations' grant-making history, Bank of America has posted recent grants awarded by each foundation that can be searched by geographic area.
• Standard Application Format - An "Applications & Procedures" section of each foundation's portal site offers instructions, requirements and links to grant application forms. Most foundations allow for Bank of America to present these forms in a Standard Grant Application format helping to further simplify and streamline this process.
• Application documents required by each foundation must then be submitted by mail or email to the respective contact name and by the appropriate deadline. Applicants must be classified by the Internal Revenue Service (IRS) as a 501(c)(3) public charity.
• Increased Transparency - Bank of America has designed this portal in part to provide greater visibility into and awareness of the foundations it manages, including how they give, what they give and to whom.

The site is www.bankofamerica.com/grantmaking

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This article is from NPT Instant Fundraising, a publication of The NonProfit Times.

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