Grant Program Guidelines
Grants will be made only to nonprofit organizations exempt from tax as described under Section 501(c) (3) of the Internal Revenue Code. Grants will not be made to cover past deficits or lobbying. Grants may be made by the Foundation acting on its own initiative, or as a response to a completed Grant Application filed by a potential recipient.
The Foundation will make grants that further its purposes as set forth in its Certificate of Incorporation, as follows:
- To make awards, grants or other distributions designed to meet the social and economic needs of the communities in which Rockville Bank operates, and to support community organizations that contribute to the quality of life in such communities;
- To provide assistance to governmental and not-for-profit organizations with purposes similar to or with activities in furtherance of, the purposes set forth herein above.
The Foundation expects to award grants on a one-time basis with no future funding commitment, or for a one-year or shorter period. Where a planned undertaking may require more time to become established or to achieve its objectives, the Foundation will consider requests for renewal, extension, or extended term grants.
In deciding whether to award a grant, the Foundation will consider the following:
- Does the organization fit the Foundation’s focus of promoting health, education, literacy and providing opportunities?
- Does the organization operate in the service area developed by Rockville Bank?
- Will this contribution be used for general operating funds?
- Has the applicant shown a need that cannot be fully met through other funding sources?
- If the applicant is one that makes grants to individuals, has it provided objective criteria for such assistance?
- Has the applicant been sufficiently responsive to specific grant criteria? (The Foundation may offer grants intended to meet specific goals, and applications for grants from funds dedicated to those goals will depend upon the applicant's demonstrated ability to achieve the goals specified.)
- Has the applicant clearly defined its project, its intended goals, and the need(s) that its project seeks to achieve?
- What benefit will the request or project provide?
- Does the organization have appropriate safeguards in place to ensure that donated funds are used for their intended purpose and/or are the responsible individuals worthy of trust? Has the organization demonstrated the responsibility, organizational skills, and pragmatism necessary to achieve its goals?
- For new projects and organizations, what plans have been developed for long-term financial viability?