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PLEASE NOTE
February 2010 As is the case with so many foundations, the value of our endowment declined in the economic downturn, and we are still experiencing the effects. Our Trustees maintained our grantmaking budget at $12 million in 2009 (approximately the same level as in 2008) in order to help our grantees weather the storm. Our commitment to giving current grantees priority consideration combined with a substantial amount of multi-year commitments left almost no funds for new projects. Trustees did, however, also award a special, board-initiated $1 million program-related investment (PRI) to the Fund for the City of New York to support bridge financing to help nonprofit organizations in New York City with cash flow while they await payments on approved contracts and grants. This year, our grantmaking budget will be slightly smaller than last, and we will have to make difficult funding choices. We will continue to give special consideration to high-performing current grantees seeking renewed funding, and we will again have little, if any, money available for new programs or projects. However, if after reviewing our guidelines and grants lists, you believe that your work and the results you achieve are directly and measurably in line with the Foundation’s priorities, we want to know about what you are doing. Given the very limited funds we will have for new grantmaking, we are not requesting complete applications at this time. Instead, we ask that you send a letter of inquiry that introduces your organization and the program or project you would like the Foundation to consider; states your track record of achievement in the area for which you seek support; and outlines both the results you anticipate being able to achieve for those you serve and how those results are aligned with the results the Foundation seeks. We will follow up with you if we need more information. This does not apply to current Altman grantees, who should prepare full applications using the forms on this website as usual. Thank you for all you do.
Karen L. Rosa |
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