Foundation Guidelines

Priorities for Foundation Funding

The Sterling National Bank Charitable Foundation (“The Foundation”) considers grants to nonprofit charitable organizations with 501(c)(3) status that serve communities in the greater New York City, Lower Hudson Valley, Long Island and New Jersey areas. Organizations must meet all the guidelines and application requirements, demonstrate sound fiscal practices, extend our mission and share in our vision of making a difference in the communities we serve.

We support two areas of focus in our grant making:

Education

Priority is given to programs and projects which promote education and provide opportunity to communities and individuals, resulting in positive economic development and life changing success. Program areas include, but are not limited to:

• Financial Literacy for: K-12, college students, and adults
• Job Skill Training and Vocational Programs
• School Based Programs K-12 and programs providing a path to success for post-secondary education
• Mentoring and Enrichment Programs

Community Development

Priority is given to programs and projects focusing on revitalizing distressed neighborhoods, education and creating job growth. Program areas include, but are not limited to:

• Economic Development
• Small Businesses Development
• Affordable Housing, Education, and Workforce Development
• Youth and community
• Homelessness Prevention

Geographic Area of Support

Our defined assessment areas of support are: the greater New York City, Lower Hudson Valley, Long Island, and central and northern New Jersey.

Continuous and Multi Year Funding

The Foundation requires organizations to submit proposals annually, regardless of prior funding. The Foundation awards a selected organization only one grant per year and the funds must be used within the calendar year awarded.

Grant Cycles

The Sterling National Bank Foundation makes funding decisions January 1st through December 31st. Submissions are reviewed quarterly and deadlines for grant proposals are: February 12th, May 7th, August 6th and November 5th. Each organization will be notified by email and receive a decision notice at the end of each quarter in which the application was submitted.

Grant Report

The Foundation requires previously funded grants to submit a Grant Report on how the funds were expended and information on the impact and outcomes of the grant.

List of Requested Materials for Approval

We require:

• 501(c)(3) Letter of Determination
• Program Budget and Organizational Budget
• Recent Audited Financial Statement
• Recent Form 990
• List of Board of Directors and their affiliations
• Descriptive materials: flyers/brochures and annual report, if applicable

Limitations

Grants are not awarded to:

• Organizations that do not have an IRS 501 (c)(3) tax exempt status
• Fundraising events and sponsorships including tickets for events or advertising
• Private foundations
• Political organizations or candidates for political office
• Individuals
• Organizations designed primarily to lobby
• Conferences or summits
• Programs not within our defined area of service
• Organizations that discriminate based on race, ethnicity, religion, gender and national origin and all other characteristics protected by applicable federal, state and local law.
• Religious organizations
• Capital campaigns or endowments

*now known as Webster Bank as successor by merger.