About
Charitable Foundation
Established in 1998, the MutualOne Charitable Foundation is dedicated to the promotion of charitable, educational, and civic purposes within MutualOne Bank’s market area.
About the Program
The MutualOne Charitable Foundation will consider grants of up to $10,000 to increase the quality of life of MetroWest residents. Special emphasis will be placed on those projects which focus on disadvantaged and/or undeserved citizens of Framingham or Natick.
The areas of interest are workforce development, health and human service, housing, education, community development, the environment, and the arts.
Grant requests will be considered for program support, seed money, challenge grants and capital improvements.
Eligibility Requirements
To apply for a grant, applicants must be a non-profit 501(c)(3) organization or a public institution (school, fire, police, etc.) located in or serving Framingham, Natick, and the surrounding areas.
The Foundation will not fund political or sectarian activities.
Funding Criteria
In reviewing proposals, the Trustees will give special consideration to the following:
- The benefit to the low- and moderate-income population
- The demonstrated needs of the target population to be served
- The size of the population in the Bank’s market area to be impacted by the grant
- The projected impact of the project on the population served by the applicant
- The significance of the grant to the applicant’s ability to implement the project
- The sustainability of the project once the grant period has ended
- The significance of the grant in addressing community-wide problems and concerns
How to Apply
To apply for funding, applicants must submit the information listed below, including a cover letter signed by the organization’s Executive Director or Board President plus a copy of a brief proposal and a summary sheet.
For questions, please contact Yves Munyankindi, Charitable Foundation Administrator at ymunyankindi@mutualone.com. Please note, email is not secure.
Application Requirements
Proposals must include the following information, keeping in mind the funding criteria:
Application Organization:
- Mission and brief history
- Major programs and geographic scope of services
- Organizational structure and number of staff
Proposed Project:
- The project or purpose for which grant funding is sought
- The target population and community need to be addressed
- Percent or number of low- or moderate-income served by the project
- The impact on the quality of life of the target population
- How the proposed project complements the mission and activities of the applicant organization
- The goals (qualitative and quantitative) to be achieved by the project
- Specific timetable of activities for attaining stated goals
- Plans for sustaining the project beyond the grant period
Evaluation Process:
- Criteria for determining the project’s success
- Process for evaluating the project
Project Budget:
- Itemized project expenses (e.g. salaries, equipment, printing)
- Indication of which project expenses will be covered by the Foundation grant
- Projected project revenue, including all funding sources (in-hand and anticipated) and amounts for each source
Appendices:
- Current organizational operating budget
- List of board of directors
- IRS 501(c)(3) determination letter, when appropriate (only one copy needed)
- Latest audited financial statement or the equivalent, as required by law (only one copy needed)