Funding Guidelines
& Application Procedures

ENDOWMENT GRANT GUIDELINES

The Hutton Foundation Endowment Grant Program provides an opportunity for local Santa Barbara-based nonprofit organizations to secure endowment funding. This opportunity is available only one time per agency and is to be used to establish a new endowment.

The Endowment Program has been designed to produce a concise result. Hutton Foundation has developed documentation, which provides step-by-step instructions and sample policies for establishing an endowment. Once an agency has completed the application process, they will have created a viable endowment fund and valid endowment policy.

In providing these sample documents, the Hutton Foundation is not recommending or requiring particular policies and is not providing legal or investment advice to applicants. Each applicant must adopt the policies that best suit its situation, and should seek the advice of its own legal, financial and accounting advisers.

Grant Structure
Hutton Foundation will commit four (4) $25,000 grants to endowment per calendar year. The committed funds must be matched 3:1 within 24 months of Hutton Foundation’s commitment. Once successfully matched, Hutton Foundation will award the committed $25,000.

Application Evaluation Criteria

Organization must be an independent 501(c)(3) located in Santa Barbara County
Organization must have been in existence five or more years
Organization must have operated in the “black” for last four consecutive years
Funds raised must be from new sources, not existing reserves, pledges or proceeds directed by the organization’s Board of Directors
Must complete fundraising 24 months of initial award
Must be available for a site visit or interview, if requested

Application Procedures/Grant Proposal

• Include organization name, address, phone and contact name for persons responsible for proposal
• Proof of adopted endowment policy, established committees and viable endowment account (Sample documents and instructions are available from Hutton Foundation)
• A narrative description of the mission of the organization and a brief overview of the agency’s programs and population served
• A narrative summary of why the organization is seeking endowment funds, including how the funds will be used by the organizations
• A narrative plan for how the new funds will be raised
• A copy of the organization’s IRS Letter of Determination showing 501(c)(3) status
• Copies of the organization’s last 5 years financial statements and Form 990
• A copy of the current operating budget for calendar or fiscal year. We want to see a complete 12-month budget showing year-to-date actual figures
• A list of Board of Directors, number of years service with your organization and their affiliation

Hutton Foundation is a member of The Foundation Roundtable, an informal group of Santa Barbara area grant makers and therefore reserves the right to disclose and discuss application information with alternate funding sources.