Comments on Funding:
Funding ranges from $50,000 to $250,000 per year. The project term is 2 to 3 years.
Applicants must be:
Additionally, Grow Grants applicants must:
- Organization has a minimum of three board members with active terms;
- At least 50% of the board must maintain an arm’s length relationship to each other. An ‘arm’s length’ relationship means board members and organization executives are not married or related to each other, do not work as business partners or are otherwise in a relationship where interests may be compromised;
are encouraged to spend some time looking at past and current OTF grants and to read about the Investment Strategy, to understand how OTF invests.
should strongly align with a Grant Result based on the end goal of their project in order to receive funding.
Applicants may submit no more than one (1) application to this program per calendar year.
- internally prepared financial statements for the two most recent fiscal years for organizations with an annual revenue of $99,999 or less;
- financial statements for the most recent fiscal year end, which must include comparative information for the prior fiscal year for organizations with an annual revenue between $100,000 and $249,999. These statements must be prepared by a licensed public accountant and need to include a Notice to Reader on the financial statements and accompanying notes.
- financial statements for the most recent fiscal year end, which must include comparative information for the prior fiscal year organizations with an annual revenue between $250,000 and $499,999. These statements must be prepared by a licensed public accountant external to your organization and need to include a Review Engagement Report on the financial statements and accompanying notes.
- The organization’s most recent completed financial statements, must have been completed within one year of the fiscal year end. For example, if the organization’s year end is March 31, please provide statements for the year end March 31, 2019 or March 31, 2020, whichever is most recent.
- Consolidated statements are required for organizations who have or belong to subsidiary companies.
- Audited statements are preferred for all revenue levels.
- Organizations less than two years old are required to provide a complete set of financial statements for at least one completed fiscal year.
- Financial statements must be Board approved (draft statements are not accepted).
At the end of each year grantees complete a Progress Report. Grantees also submit a final report when the project is completed. This covers the achievement of the project, metric, and learnings. Completion: After OTF staff approve a final report, the grant hold-back funds are released and the grant is closed. Grantee compliance: A random sample of grants are subject to a Grantee Compliance Audit. Grant files can be audited for compliance at any point within the grants life, or after the grant has been closed.
Other Things to Note:
No upcoming deadlines.