As part of the Amplify Fund commitment, The M&T Charitable Foundation is pleased to announce a new Request for Proposals (RFP) – Amplify Fund – Financial Inclusion and Prosperity (“AF-FIP”).
Donor Name: M&T Charitable Foundation
State: Selected States
County: Cumberland County (ME), Westchester County (NY), York County (ME)
Type of Grant: Grant
Deadline: 11/14/2024
Size of the Grant: $100,000 to $500,000
Grant Duration: 3 Years
Details:
This RFP seeks applications from nonprofit organizations that are centered on advancing financial inclusion and spurring economic growth and prosperity, with a particular focus on racial and social justice – throughout the People’s United Bank legacy footprint, including Connecticut, Massachusetts, New Hampshire, southern Maine, Long Island and Westchester County, New York, and Vermont.
AF-FIP will seek to provide finite funding, up to three years, to community-based organizations that are centered on improving financial health and resiliency, wealth building, and providing opportunities that are eliminating barriers, reducing income inequality, and paving sustainable economic pathways for low-to-moderate income, underserved, marginalized, and Black, Indigenous, People of Color (BIPOC”) communities. This work should respond directly to documented needs, challenges, and gaps to create financial inclusion and build economic prosperity in the following key areas of focus:
- Homeownership & Improvement
- The creation of stock/ inventory of affordable housing options through new construction, renovation, and preservation initiatives, with a primary focus on creating pathways to homeownership opportunities.
- Home improvement, weatherization, and energy efficiency programs designed to provide affordable and cost-effective solutions to homeowners to help reduce energy costs, increase the value of a home, and aid in sustainable homeownership.
- Initiatives to grow and expand homeownership opportunities, including first-time home buyer programs, as well as downpayment and closing cost assistance.
- Small Business Development/ Entrepreneurship & Career Growth
- Initiatives that promote economic independence through entrepreneurship and small business development and growth, and expansion of current, innovative, and culturally relevant programs including financial assistance, training, technical assistance, and other support services to help small businesses grow and thrive.
- Career growth opportunities, including upskilling and reskilling, and certification training that leads to increased income, job resiliency, sustainability, and financial success: and meets current and future workforce needs, with a focus on high-growth industries and fast-growing sectors within a particular region. Ex. Green jobs, technology, etc.
- Financial Resilience
- Programs and services that provide individuals equitable access to capital and support services, expands economic opportunities, and builds credit, assets, and wealth.
- Initiatives focused on financial empowerment, building financial health and resilience, and equipping individuals with the capacity to manage adversity and adapt to changes (excludes basic and stand-alone financial education initiatives, including youth financial literacy).
Prioritization will be given to social change approaches and innovative initiatives through cross-sector collaborations focused on community engagement that are purposeful, equitable, and impactful including but not limited to:
- Initiatives that are aligned with AF-FIP with a focus on climate resiliency and sustainability, including clean energy and green jobs.
- Programs that promote an equitable and resilient workforce with a focus on high growth sector industries such as healthcare and technology and fast-growing sectors within a particular region.
- Established and trusted community organizations that have a proven model and track record of success in improving financial health and resiliency, creating economic mobility, and building wealth.
- Organizations who clearly demonstrate impact and measured outcomes, and how they address financial inclusion and prosperity.
Funding Information
AF-FIP is a supplemental charitable giving initiative that seeks to provide finite funding, up to three years, to grant recipients. Grant terms will be one, two, or three consecutive years of funding. Grants will range from $25,000 to $150,000, per year.
Eligibility Criteria
To be considered for an AF-FIP grant, nonprofit organizations must meet the following minimum eligibility criteria:
- Organization must be an IRS designated 501(c)(3) public charity.
- Be community-based in its location, origins, and method of operation, within the identified geographic territory listed as part of AF-FIP.
- Work of the nonprofit must be centered on economic resiliency, financial inclusion, and wealth generation in one or more of the key focus areas identified under AF-FIP’s three pillars of homeownership & improvement, small business growth/entrepreneurship and career growth, and financial resilience.
- Organizations must be able to clearly demonstrate how their mission, goals, and work aligns with the focus of AF-FIP.
- Must be able to demonstrate how the organization is using performance measurements, evaluation criteria, and utilizing data to improve outcomes.
- Focus must be on improving the lives of underserved, underrepresented, and marginalized populations. Examples include but are not limited to low-to-moderate-income, BIPOC, Immigrants and refugees; veterans, formerly incarcerated, and LGBTQIA+ individuals and populations.
- Must be able to provide clear and strong demonstrated outcomes in meeting the AF-FIP goals and objectives of improving financial health and resiliency, wealth building, and providing opportunities that are eliminating barriers, reducing income inequality, and creating sustainable economic pathways.
For more information, visit M&T Charitable Foundation.
