Indiana Credit Union Foundation

Foundation Grant Request Prodcedures

The Indiana Credit Union Foundation, in addition to awarding scholarships for educational assistance for credit union staff and volunteers, also reviews grant requests. Credit unions or other organizations needing financial assistance in order to reach out to their community to provide education, service to underserved areas, or community development programs can apply for a grant from the Foundation. Examples of the types of programs the Foundation is willing to consider include the following:

Youth financial literacy education
Hispanic community outreach programs including financial literacy
Operational issues related to serving the underserved
Marketing programs to reach the underserved that can be made available to other credit unions once developed
Disaster relief
Community outreach such as Habitat for Humanity
Support of community-wide charitable events
Credit union development initiatives

The funding for grants comes from the Foundation's general fund. The funding available for grant requests is dependent upon the success of the fund raising efforts of the Foundation. If your credit union has not made a decision on providing financial support for the Foundation, perhaps now is a good time to do so.

When making a request for a grant, the application should be completed and forwarded to the Foundation Board of Directors along with the grant proposal write-up. Any questions regarding this can be directed to Chris Beaumont at (800) 594-5300 or (317) 594-5335. Chris can also be reached at chrisb@icul.org.

The Foundation Board of Directors is looking forward to being able to support credit unions in their efforts to improve the lives of people in their communities through the grant-making process.

Foundation Grant Request Format

PROPOSAL SUMMARY - Please summarize in a short paragraph the purpose of your organization (if other than a credit union). Briefly explain why your organization is requesting this grant, what outcomes you hope to achieve, and how you will spend the funds if a grant is made. Do not use more than one-half page.

NARRATIVE -
Background-Describe the work of your organization, addressing each topic:
1. A brief description of its history (i.e. year organized, annual figures reflecting number of members, assets, loans, deposits, services offered, etc.) and mission in the field of membership.
2. The need or problem that your organization works to address.
3. Current programs and accomplishments. Please emphasize the achievements of the past year and those achieved so far in the current year. Include current figures for the number of members, assets, loans, deposits, etc.
4. The community your organization serves, including geographic location, socio-economic status, race, ethnicity, gender, sexual orientation, age, physical ability, and language.
5. Number of paid full-time / part-time staff; salaries of staff; number of volunteers.
6. Your organization's relationships - both formal and informal - with other organizations working to meet the same needs or providing similar services. Please explain how you differ from these other organizations.
Funding request-Please describe the program or purpose for which you seek funding:
1. If applying for general operating support, briefly describe how this grant would be used and amounts corresponding to areas of support, and how this will help the organization become self-sufficient.
2. If your request is for a specific project, please explain the project including:
  - A statement of its primary purpose and the need or problem that you are seeking to address
  - The community that you plan to serve and how this population will benefit from the project
  - Strategies that you will employ to implement your project
  - The names and qualifications of the individuals who will direct the project
  - Anticipated length of the project
  - How the project contributes to your organization's overall mission
3. Please list the foundations, corporations, and other sources that you are soliciting for funding, and, to the best of your knowledge, your status with each.
Evaluation-Please explain how you will measure the effectiveness of your activities.
Describe your criteria for a successful program and the results you expect to have achieved by the end of the funding period.
ATTACHMENTS - Please label all attachments
Financial Information - Please provide the dates that each document covers.
1. Your most recent financial statement, audited if available or applicable. This statement should reflect actual expenditures and funds received during your most recent fiscal year.
2. Aligned side by side on the same page, your operating budget for the current and most recent fiscal year.
3. Aligned side by side on the same page, a list of foundation and corporate supporters and other sources of income, with amounts, for your current and most recent fiscal year.
4. A copy of your three-year business plan.
5. If project funding is requested: A current budget for the project. List each staff line separately and include % of time spent on project. Indicate the specific uses of the requested grant.
Other Supporting Materials
1. A list of your Board of Directors, with their affiliations.
2. One paragraph resumes of key staff.
3. Your most recent annual report, if available.
4. No more than three examples of recent articles about, or evaluations of, your organization, if available.