Why do you ask for all this information?

First of all, because we are a foundation, we are required by the Internal Revenue Service to maintain files on all nonprofits we fund. Secondly, in order to conduct a review, we need to be informed about your agency.

Why do you need both 990 Form and an audit?

Because the reports provide different information. By the way, we need complete reports. That means including all statements of the 990, and not a capsulated version of your audit.

Isn't a New York State Tax Form just as good as a 501(c)3?

No, a New York State Tax Form is used by the nonprofit to be relieved of paying Sales Tax. The 501(3)c is a federal form indicating to us you have applied to the Federal Government and been reviewed and given a 501(c)3 approval.

Can you fund other 501 (C) agencies?

No, only 501(c) 3's.


If I should receive a grant from the New York Community Bank Foundation, and wish to apply in the future, will I need to submit another request that includes all the same data?

          Yes, because this information should be updated each year.

Could you clarify how you want to be kept up-to-date?

After we mail off a check, we like to know how things went. For example, if you asked us to fund a new computer, let us know when it's in place. Take a picture and let us know how it helped you. Bottom line, it's more than mailing a newsletter to our office.

          Send us a one page letter at six months, letting us know that things are moving along - especially if there are glitches.

          A full report is required at year end.

When writing a proposal, is it better to submit a lot of information or keep it brief?

We want to know your mission and needs, but in the most concise way you can. Time doesn't allow for us to read through tomes of data. Also, if you have a history of receiving grants from us, there is no need to submit the history of your agency every time you request funding.


How long will I have to wait to hear if my agency has been approved or disapproved for funding?

          Under normal circumstances, once we have your complete proposal, the review process takes about three months. You will be informed via letter as to the decision.

          Also, considering the time required for our reviews, we cannot act upon a request that would involve a near-term scheduled event.

If I'm turned down for a grant, can I reapply?

It depends as to why you were turned down. If you are clearly outside our guidelines, then chances are we would not fund you.

          If, however, it was due to, immediate budget restrictions, then there might be an opportunity the following year.

Is there a standard level of support you provide?

No, many factors are considered during a review, and it depends a lot on the organizations request and information submitted.

How should I submit my request?

We know it's old fashioned, but we accept only hard copies, snail mailed to our postal address. PLEASE DON"T send overnight mail! We hate to see money wasted.