Foundation Guidelines

Through the "Spirit of Your Neighborhood Campaign", the Foundation makes charitable contributions to 501(c)(3) non-profit organizations. To qualify for funding, review our guidelines.

Foundation Support is allocated with priority given to requests benefiting low- and moderate-income individuals and communities. The percentage allocations are considered guidelines and represent long-term objectives. The exact allocation may change annually.

The "Spirit of Your Neighborhood Campaign" focuses on four major funding priorities:

1. Community Investment and Economic Development (35-45%)
   
   • Programs supporting affordable housing for low- and moderate-income individuals and communities
   • Economic development projects that improve the quality of life, sustain economic development and support job skills for low- and moderate-income individuals and communities
   • Programs promoting job skills
   • Facilities that promote community development programs
   • Not-for-profit organizations providing credit counseling, homeownership counseling, home maintenance, and other financial service education
2. Youth and Education (15-25%)
   
   • Programs that enrich a child's educational opportunities, such as school programming and curricula
   • Programs developed by outside organizations, including school, early childhood development, and special education programs, with preferences given to those programs with targeting low-and moderate-income communities
3. Health and Human Service (15-25%)
   
   • Programs that revitalize or stabilize low- and moderate-income areas and/or community services targeted to low- and moderate-income individuals
4. Arts and Culture (5-10%)
   
   • Programs supporting visual and performing arts opportunities, including museums, libraries, cultural centers, and public radio and television stations, with preference given to those targeting low- and moderate-income communities

How to Apply The following financial information must be submitted to the Foundation:

• A cover letter identifying the proposed request and objective of the organization
• A proposal of no more than 3-5 pages explaining the project and/or program
• A copy of the organization's specific project and operating budgets
• A list of funders that provide support to the organization or plan to support the specific project
• The names and contact information of the organization's Board of Directors
• A copy of the organization's IRS 501(C)(3) tax determination letter and Taxpayer Identification Number
• A copy of the organization's most recent audit
• Information regarding any prior funding from Sovereign Bank, including the amount, purpose of grant, and year of grant
• Information regarding any banking relationship with Sovereign
  

Should Sovereign require any additional documents or information, we will contact you. Please do not send any additional collateral materials, video tapes or photographs unless we request them.


Funding Exclusions

• Individuals
• Programs with political, sectarian, and religious purposes
• Pageants
• Team sponsorships or sporting events
• Organizations traditionally supported by parents (e.g. Little League, PTO, Scouting)
• Advertising in programs, bulletins, schedules, maps, yearbooks, book covers, or brochures
• Trips and tours, including transportation costs
• Capital Campaigns
  

2008 Grant Making Calendar January—March
Applications must be postmarked by February 15th.
Organizations will be notified by March 31st.

April—June
Applications must be postmarked by May 16th.
Organizations will be notified by June 30th.

July—September
Applications must be postmarked by August 15th.
Organizations will be notified by September 30th.

October—December
Applications must be postmarked by October 10th.
Organizations will be notified by November 28th.