Foundation hands out $2.7m in grants
More than $1 million was given to education-related non-profits last year, the Bank of Bermuda Foundation announced.
The philanthropic organisation said that the $1.1 million for education was part of about $2.7 million in total grants to 60 local non-profit organisations in 2018.
It was the first year grants were awarded under the foundation’s new Theory of Change and Vision for Bermuda that “all people in Bermuda are healthy, independent, financially secure and connected to community, with equitable opportunities for all”.
Tom Conyers, chairman of the Bank of Bermuda Foundation, said that the new application required from non-profits “was very detailed and required substantial critical thought to complete effectively”.
He added: “We appreciate the work they do and we particularity appreciate their efforts to assist us in sensibly evaluating the impact of their work.”
Non-profits who applied for funding last year had to align with one of five funding areas: capacity building, connected communities, economic participation, education and healthy families.
Amounts awards under the areas were:
• Capacity building: $89,500
• Connected communities: $436,500
• Economic participation: $10,000
• Education: $1,109,000
• Healthy families: $965,625
The foundation said that Tier Three grant requests — those over $25,000 — will now be accepted for review three times a year rather than four.
The two remaining deadlines for this year are May 31 and September 30.
Tier One grant requests — for up $10,000 — are accepted year round.
Tier Two requests — for $10,001 up to $25,000 — are accepted on the 15th day of each month.
A spokeswoman for Bank of Bermuda Foundation added: “Letters of intent are accepted by the foundation for grant requests over $25,000 from new grantees or for grant activity not currently funded by the foundation.
“The LOI is a brief overview of a project that will enable the foundation to ascertain if it is within its mission and budget.”
The next deadline for LOIs is April 15.
Vivien Carter, the programme consultant at Bank of Bermuda Foundation, can be contacted for more information at 704-2743 or by e-mail at firstname.lastname@example.org.
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