Making it Happen
Once a clear plan has been established, most planning grantees apply directly to the Foundation for implementation funds. Implementation grants range as high as $750,000, are performance-based and are disbursed over a five-year period. Given the larger dollar amounts and the longer time period, prospective grantees are engaged in a rigorous, six-month due diligence process prior to being awarded a grant. During this process, the Foundation assesses, among other things, the capacity of the prospective grantee, strength of the partnerships and the feasibility of the goals laid out in the plan. Given the large scope of goals laid out in a neighborhood plan, no one organization can accomplish all planned goals in isolation. It is critical to have a strong lead grantee and partners who are committed to the goals laid out in the plan.
All prospective implementation grantees are required to create an implementation matrix, which serves as the most valuable tool to ensure strategies are being implemented along a timeline and that the comprehensive nature of the project is maintained throughout its implementation. The implementation matrices list detailed quantifiable milestones and outputs that are expected to be reached by dates identified by the lead grantee. These matrices are ultimately used as a quarterly reporting tool for the Foundation to monitor performance of the grant in its performance-based portfolio.
Over time, the Foundation has learned that the first five years is just the infancy stage of a truly successful revitalization process. Often an initiative would be just gaining momentum at the end of five years and would not have had time to really take root, attract other funders and become sustainable. As a result, in 2008, the renewal grants program was launched, allowing high-performing implementation grantees to apply for additional funds in two-year increments for up to an additional $300,000. This program has promoted the sustainability of the neighborhood revitalization projects and given grantees the security they needed to focus on accomplishing large goals outlined in the plan that serve as a catalyst for lasting change.
In addition to instituting the renewal grants program, in 2011, the Foundation piloted its sustainability initiative. Through this initiative, in partnership with Community Wealth Ventures, the Foundation takes high-performing renewal grantees through a year-long capacity building process. The initiative particularly focuses on understanding the breadth of resources that have been dedicated to the revitalization projects and how to sustain the project after the Foundation exits the neighborhood. It also provides grantees with intense coaching around raising resources and pitching the project to additional funders.
As a private, corporate funder, the success of the Foundation’s strategy has been rooted in the fact that it is specific, it meets an unmet need with being one of the only funders of neighborhood planning in the region, and it takes a long-term view toward community development. As a learning organization, the Foundation continues to refine its strategy to maximize impact in the neighborhoods it serves.
Crystal Dundas is the Program and Communications Officer for the Wells Faro Regional Foundation, where she oversees the Foundation’s communications and media relations. She also serves as a Program Officer, reviewing grant proposals and making rant recommendations to the board. Crystal joined the Foundation 2008 from UBS Financial Services where she served as grant manager for Wealth Management corporate contributions and UBS Foundation USA. Prior to her work at UBS Crystal spent four years running job readiness and financial literacy programs for youth in the City of Philadelphia. Crystal serves as a Steering Committee Member of Emerging Practitioners in Philanthropy’s (EPIP) Philadelphia chapter. Crystal holds a BS in economics from the University of Pennsylvania’s Wharton School of Business.