Richmond County Savings Foundation

FAQ

Frequently Asked Questions

The foundation accepts applications for funding up to $25,000.

The first step in our submission process is the Preliminary Application. If your project is selected for further consideration, Foundation staff will contact your organization informing you that your proposal has been selected for further review and will instruct you on the additional information necessary for the Full Proposal.

No. The Foundation only funds organizations in receipt of a 501(c)(3) designation letter. In addition, we verify that you have maintained this status through GuideStar. The Foundation does not give grants to individuals. We do not consider requests from organizations for support through a fiscal conduit.

There are no deadlines for proposals. Preliminary Applications may be submitted at anytime. Applications that are selected will be reviewed by the RCSF Board of Directors quarterly. Due to the extensive review process, the Foundation cannot act upon requests with immediate funding needs.

The IRS Letter of Determination is issued by the Federal Government. The letter is an official document stating that the IRS has determined that your organization qualifies as a 501(c)(3) public charity. The Foundation only funds organizations in receipt of a 501(c)(3) designation letter. In addition, we verify that you have maintained this status through GuideStar.

Maybe. A New York State Tax Form relieves a nonprofit of paying Sales Tax. However not all tax exempt nonprofits have an IRS 501(c)(3) designation. If you do not have a copy of your IRS Letter of Determination, please call the IRS toll-free line to obtain a copy.

It depends on the reason for the declination. If your organization and/or proposal is clearly outside our guidelines or geographic funding area, then we are not able to fund you. If, however, the declination reflected annual budget restrictions for the Foundation, then a request the following year could be considered.