Important – Frequently Asked Questions & Grant Requirement Updates

Important – Frequently Asked Questions & Grant Requirement Updates

The Baltimore Children and Youth Fund is excited that there were a combined 250 attendees at the two Grant Information Q&A sessions!

The Planning Team gathered and answered all of the questions asked during both sessions and afterward. You can find the revised Frequently Asked Question (FAQ) document by clicking here.

The answers provided are intended to thoroughly support applicants submitting proposals and provide as much clarity on expectations and requirements for the proposal process. Please read the FAQ carefully and see the notice below, as some requirements have been changed in response to applicant feedback.

If you have additional questions or require in-person support, please plan to attend one of the upcoming Community Capacity Building Sessions and book an appointment with one of our Planning Team representatives or volunteers. Remember, appointments are available on a first-come, first served basis, so arrive early!

Please note two really important updates and clarifications for prospective applicants below:

Independent Audits

This requirement has been changed in response to applicant feedback – please read carefully. Applicant organizations with gross annual contributions of under $200,000 are waived from the RFP’s independent auditing requirement; therefore, they are no longer required to attach an independent audit or propose to cover the costs of an independent audit as a part of their proposal.

Organizational applicants with gross annual contributions of $200,000 or more must submit either a reviewed financial statement or independent audit (in keeping with the MD Solicitations Act §6-402 (b)(8)). A charitable organization must file an audited financial statement prepared by an independent CPA if the gross income from charitable contributions is at least $500,000. For organizations with gross annual contributions between $200,000-$500,000 a financial statement must be reviewed or audited by an independent CPA.

As shared at the Grant Information Sessions, applicants that are unable to meet these requirements have two options:

  1. Partner with a fiscal sponsor (see below or click here for more information); or,
  2. Propose to use funds from the grant to support the costs of having an independent audit or reviewed financial statement done.

 

Note that if you propose to use funds from your grant to support the cost of getting an independent audit or reviewed financial statement in place and are awarded a grant, the Associated Black Charities cannot disburse grant funds to you until this requirement is met. Therefore, please carefully take this into account as you consider the feasibility of this option, timing and potential cash flow implications. Should you have any additional questions, please plan to attend one of the upcoming Community Capacity Building Sessions and book an appointment with one of our Planning Team representatives or volunteers.

Fiscal Sponsorship

This requirement has been changed In response to applicant feedback – please read carefully.  Organizations that would like to apply but do not yet have their 501(c)(3) status in place are strongly encouraged to partner with a fiscal sponsor to meet the 501(c)(3) requirement. HOWEVER, organizations that have not yet identified a fiscal sponsor are no longer required to do so before the proposal submission deadline. Organizational applicants that are in need of a fiscal sponsor and will not be able to identify one prior to the proposal submission deadline can still apply by attaching a brief letter to their application stating that they would like assistance from the Fund in selecting a fiscal sponsor after being awarded. This letter will stand in place of the RFP’s 501(c)(3) or fiscal sponsorship requirement and will be sufficient to meet proposal requirements.

If you request assistance with selecting a fiscal sponsor and are awarded, the Fund will help you to identify a fiscal sponsorship partner that will best meet your needs.

Should you have any additional questions, please plan to attend one of the upcoming Community Capacity Building Sessionsand book an appointment with one of our Planning Team representatives or volunteers.

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