GRANTS/COLLEGE SCHOLARSHIPS

1. What is the deadline for grant applications and college scholarship applications?

POISE Foundation has two grant cycles for unsolicited grant requests: Spring and Fall. Requests received between October 1 and March 31 will be considered during our Spring cycle. Requests received between April 1 and September 30 will be considered during our Fall cycle. The Foundation rarely considers interim unsolicited grant requests.

2. What are grant eligibility requirements?

In order to be eligible for a grant from POISE Foundation, an organization must be a non-profit charity with an Internal Revenue Service designation of 501(c)(3). POISE provides grants to organizations that serve predominantly the African American community. The Foundation does not make grants to individuals or organizations that are not considered as charitable by the IRS.

3. How are grant amounts determined? Is there a minimum/maximum amount of grants?

All grant requests received will be reviewed by Foundation staff to determine whether they are consistent with the mission of the Foundation and with the endowment purpose of our funds. The staff will review and perform site visits of programs to be considered. The staff will then summarize the grant request and present them to the Distribution Committee who reviews, prioritizes and determines the amount awarded. The Distribution Committee then submits all grants for approval by the Board of Trustees. In the past our grants have ranged from $250 to $5,000. The average grant is $2,000.

4. What determines whether or not a grant will be approved?

The Board of Trustees has final approval on all grants made by the Foundation.

5. Is there a grant application or is a letter or proposal sufficient?

There is a common grant application available on our website; however, it is not required. All proposals should include the following: name, address, and phone numbers of organization, program name, description to be funded, budget, expected outcomes as a result of program, and a copy of IRS Determination letter.

6. What types of organizations can benefit from a grant from POISE Foundation?

POISE Foundation grants benefit organizations that support the African American community in education, arts and culture, community empowerment, and health.

7. How are funds raised to support grants?

POISE Foundation has over 120 individual endowment funds. Endowment funds are invested in and generate gains and income. Five (5) percent of an endowment fund’s net asset balance is available for grants in a given year. The Foundation continually raises funds through contributions from individuals, organizations, corporations, and foundations that make donations either designated for specific use or undesignated to be used in accordance with the mission of POISE Foundation.


Pre K-12 SCHOLARSHIPS

8. Is there a deadline for K-12 scholarship application?

Yes. POISE Foundation accepts applications to the POISE Primary and Secondary Scholarship Fund beginning January 31st, the deadline is May 31st. This program is funded by contributions from corporation’s participation in the Education Improvement Tax Credit Program of the PA Department of Community and Economic Development. Funding may vary, and there is no guarantee that funds will be available during a given year. This program has financial guidelines that must be met. The Foundation will review all applications and consider financial need as a criteria for funding.

9. When will a parent be contacted once determination of scholarships has been made?

There is no specific time frame that parents will be contacted, however, all applicants will receive a written response regardless of decision.

10. Why is it necessary to have financial information, proof of enrollment and tuition information?

This information is helpful in determining financial eligibility and helps to make certain funds are being awarded to students truly enrolled in the schools. An application will not be considered if this information is not submitted.

11. Are there any tax credits available to businesses that donate to the EITC program?

Yes. There is a tax credit available. The tax credit amounts to 75% of what the business contributes if contributing for one year and 90% if making the same level of commitment for two years.


Creating Endowment Funds

12. How can a fund be established? How can a donation be made? Is the donation tax deductible?

POISE Foundation has a new fund form, which is located on our website in which specific directions are listed on how to establish a fund. Donations can be made to POISE Foundation by either making a general donation or a direct donation to the fund you want. The donations can be in the form of cash, check, or credit card, and are tax deductible in accordance with the Internal Revenue code.

13. What types of funds can be created?

Administrative - helps defray Foundation’s normal operating expenses, Agency - established by non-profit organizations for its own use and support, Donor Advised - permits the user to recommend or advise the Foundation where the income from the fund should go, Donor Designated - allows the donor to support specific charitable organizations, Field of Interest - focuses on issues of concern such as health, education, economic development, human services, etc. Scholarship - designated for the advancement of individuals looking for financial assistance for educational growth, and Unrestricted - do not have donor stipulations and can be used for any purpose that is consistent with the mission and objectives of the Foundation.

14. What is the minimum/maximum amount that can be contributed?

There is no minimum/maximum amount that can be contributed. POISE Foundation accepts donations of any amount. Donations can be mailed or submitted online.

15. What and who determines how funds are invested?

The Foundation uses a select group of investment managers. At the time of initial setup, a donor can select from these managers or suggest an alternative, however the Foundation reserves the right to approve all investment managers.