1. Letter of Intent (LOI)
November – December: The first step for grant applicants is to submit an LOI using Impact 100’s online submission system. Impact 100 members serving on Grant Review Teams evaluate the submitted Letters of Intent and, by February, select organizations to invite to complete a grant application.
Impact 100 reserves the right to reject a LOI for any reason, including a missed deadline or incomplete information.
2. Grant Application
March: Organizations selected by Impact 100 to complete a grant application must submit their applications including all attachments via our Online Grant Application.
Impact 100 requires a grant application and a number of financial documents. All documents must be submitted in PDF; downloadable in Excel below:
- Statement of Revenue/Support and Expenses (Income Statement): your organization’s most recent completed fiscal/calendar year and the previous two years
- Statement of Financial Condition (Balance Sheet): most recent completed fiscal year and previous two years
- Total Budget and YTD Actual: current fiscal year, including column showing the organizations year-to-date status
- Program Budget or Capital Budget: provide pro forma budgets for the next three years if there are ongoing expenses associated with your project that increase the organization’s operating expenses by 20% or more, or, if this is a new initiative
- Most recent audit: financial statements complete with notes and audit opinion as well as any other report issued by auditing firm
- If your organization does not have an audit performed, provide one of the following (in order preferred)
- Independently reviewed/compiled financial statements
- Form 990
Impact 100 also requires a number of non-financial documents (all documents must be submitted in PDF):
- Diversity Data Worksheet
- Names, affiliations, and demographics of board members
- List of key staff or an organizational chart
- Letters of commitment from collaborating organizations (if applicable)
- Please scan all letters of commitment into one PDF prior to uploading
For an overview of the full grant application and the required attachments, see the Grant Training materials.
You will receive acknowledgment of receipt of your application within 24 hours. Impact 100 Grant Review Teams will select and notify Site Visit Candidates by Spring.
Impact 100 reserves the right to reject a grant application for any reason, including a missed deadline or incomplete information.
3. Financial Review
April: The Community Investment Review Committee (CIRC) is responsible for taking an in-depth look at the grant applicant’s financials, prior to a site visit. CIRC members review the financial health of the nonprofit and the details of the project budget. Questions and concerns are addressed during the site visit. Based on all of the provided financial information, CIRC votes on whether or not to approve the grant applicant as a finalist
4. Site Visit Candidate
April – May: Site Visit Candidates will be selected in each focus area. A Site Visit Coordinator from the Focus Area Committee will coordinate arrangements for the visit.
The objective of the site visit is to complete a due diligence review and to resolve any remaining questions regarding the organization and the proposed program or project. The site visit will be approximately 60-90 minutes long and the interview questions and agenda will be established ahead of time by the Site Visit Coordinator and the organization.
Impact 100 Focus Area Committees will select one to two finalists in each of the focus areas. An additional committee is formed to confirm the viability of the organizations before Finalists are announced. Finalists will be announced in June at our Meet the Finalists Event.
5. Grant Finalist
June – September: Every Impact 100 member has access to a one-page overview of each Grant Finalist’s funding request, called the Executive Summary. We also invite representatives from each of the Finalist organizations to make a timed presentation to the membership regarding their organization and the proposed program or project at our September Annual Awards Celebration. Impact 100 members then vote by ranking the finalists. The highest ranking finalists are chosen as grant recipients.