Not-for-profit groups can still apply for grants with the IMB Bank Foundation (IMBBCF), to get their community projects off the ground.
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Grant applications are open until June 16, and the IMBBCF has provided tips on securing one.
Research from Social Ventures Australia reveals that not-for-profit sectors are under-funded, and financial support is essential to make projects a reality.
IMB Bank's foundation has supported more than 850 grassroots community organisations and projects over 24 years, and has donated more than $11.5 million.
A total of $700,000 of funding is available this year.
Ahead of its funding submission deadline this week, IMBBCF has the following application tips:
- Research grants available: There are many grant funding programs available. The NSW governmentquot;" NSW governmentamp;source=gmail&ust=1686876400706000&usg=AOvVaw0xCxe_ffuhneau2ZVjCbsc" NSW government offers grant funding for not-for-profits across different focuses such as rebuilding, community and the environment. Funding from the corporate sector, such as that offered by IMB Bank Community Foundationamp;source=gmail&ust=1686876400706000&usg=AOvVaw1TqZ5LD2KDadHBbFZElK0o" IMB Bank Community Foundation, is another avenue that can be pursued.
- Know what the funding is going to achieve: Review former IMBBCF projectsamp;source=gmail&ust=1686876400706000&usg=AOvVaw23M1VcX-FVzJU93l-rssUB" former IMBBCF projects to understand the types of projects that have been supported in the past to help draft the application. Know what the project is going to do, who it will help, local benefits and the needs it addresses. It is important to read the eligibility criteriaquot;" eligibility criteriaamp;source=gmail&ust=1686876400706000&usg=AOvVaw0lTqwaffFWrI2r0n3bMfRC" eligibility criteria.
- Sort documentation and images: Compile relevant documentation to support the application and have supporting evidence such as statistics about local challenges, the needs of community members, or the success of similar projects.
- Champion the community and a group: Show what a group has done in the past and what benefits it has had on the community. Highlight local successes as a result of its efforts and ways in which new funding will boost future expansion, participant experiences, or forms of sustainable progression.
- Apply as soon as possible: Avoid applying on the last day, as unexpected things such as glitches, or rushing might impact the application. Most grant funding organisations understand that complications can arise at the last minute. People can reach out via phone or email to explain their situation if something happens.
Apply for a grant via imb.com.au/community-foundations-imb-community-foundation.html, and read the guide imb.com.au/foundations-imb-community-foundation-guide-to-completing-the-application-form.html for more tips.
