The Community Foundation of Southern New Mexico is accepting applications for its 2023 Economic Development, Retention and Revitalization Grant Fund to support private businesses, projects and organizations that make or will make a measurable difference in achieving economic growth and development, expanding and diversifying the tax base, and creating new quality jobs within Doña Ana, Luna, and Otero Counties-with the possibility of expanding throughout New Mexico, if the need arrives.
Donor Name: Community Foundation of Southern New Mexico
State: New Mexico
Counties: Selected Counties
Type of Grant: Grant
Deadline: 01/31/2023
Details:
New businesses, the expansion of existing businesses, and individual entrepreneurs can be considered.
Small businesses could be defined as businesses with less than 50 staff members. These funds could assist the following:
- Fund small businesses and entrepreneurs that would like to open a business but were unable to over the past two and half years due to the pandemic.
- Fund small businesses and entrepreneurs that have been negatively impacted by the pandemic and have lost staff, market share and had to close pieces of their businesses.
- Fund small businesses and entrepreneurs that would like to expand staff and focus on getting individuals back to work.
- Fund nonprofit organizations that assist with entrepreneurial education, business development and developing thriving families in southern New Mexico.
- Partner in collaborative funding with WEEST, LiftFund and like groups to identify businesses that want to start a business, need assistance getting back to work and increasing employees. These dollars could be matched to make a larger impact. These funds will be used through a grant process developed by CFSNM. Businesses, nonprofits and individuals will be able to apply to a short grant application for needed funds. The CFSNM will review applications on a quarterly basis in partnership with Mesilla Valley Economic Development Alliance (MVEDA), LiftFund, WEEST and other nonprofit groups that focus job expansion in southern New Mexico.
The project MUST:
- Show a clear demonstration of public purpose and economic benefit through advancement of the region’s economic goals which include. Expanding the tax base, creating quality economic-based jobs, increasing private capital investment in the community, and spurring development
- Include solid evidence provided by the business that demonstrates the business’s financial stability and capacity to complete the project
- Be in compliance with all local, state and federal laws.
Evaluation Criteria
The foundation grants committees consider the following criteria when making final grant funding decisions:
- Compatibility with grant guidelines
- Ability for the non-profit organization/program/project to meet the grant’s mission
- Demonstrates a community need
- Financial sustainability of the project/program, as well as financial stability of non-profit organization
- Increased likelihood that the grant would assist the non-profit organization/leverage additional funding
- Strength of staffing & partnerships
- Proposed outcomes/measures of success
- Proposals will be assessed based on the applicant’s overall organizational strength, community involvement, project timeliness, & successful fiscal management experience
For more information, visit Economic Development, Retention and Revitalization Grant Fund.
