The Catalyst Grant provides 501(c)(3) non-profits located in the Kennebec Savings Bank's service area with up to a total of $30,000 over a three-year period. The purpose of the grant is to aid organizations in achieving a goal that may not otherwise have been possible without funding. A maximum of two (2) grants will be awarded each year.
The grant will be awarded in the following three (3) increments:
- First Year: $15,000
- Second Year: $10,000
- Third Year: $5,000
In order to receive a second year award of $10,000 and the third year of $5,000, the recipient organization is responsible for demonstrating progress toward achieving the organization’s goal outlined in the grant proposal. It is unnecessary for that goal be completed in three years. However, Kennebec Savings Bank encourages the proposal and purpose of this grant to add capacity in new and creative ways. It is expected that the additional capacity or program will find long-term funding to become self-sustaining since this program is only providing funding for a three-year period. Once a recipient organization has completed a three year award cycle, it must wait two years from the time of the last award before applying for another Catalyst Grant.
Criteria: Due to the nature of the grant, criteria will be somewhat flexible in order to provide for the broadest possible application. Criteria include:
- Project must benefit Kennebec Savings Bank's service area
- Applicant must demonstrate a connection to the service area
- Applicant must demonstrate organizational support for the project, such as a letter of support from Executive Director and/or Board leadership
- Applicant may cover use of funds for (but is not limited to):
- minor construction,
- the purchase of supplies or capacity building equipment, or
- purchase of a specific service that supports the goal
- The following will not be considered:
- support of special events, fundraisers, annual or capital campaigns
- non-profit board training, consulting or fundraising
- funds to retire debt
- funds to hire permanent staff
Application: Applications for the Catalyst Grant are available on the KSB website through the online portal. In order to be considered, all questions on the application must be completed by the stated deadline. Second and third year grant recipients will also need to submit reports annually for Committee review.
Competitive Process: A Catalyst Grant Committee comprised of 10 Bank employees will consider all initial applicants. Grants will be awarded one time each year. Using Catalyst Grant criteria as its framework, this ad hoc group will decide which two applicants will receive funds. Likewise, the group will also review previous year award recipients for evidence that progress is being made toward goals. Decisions made by the group will be considered final, including a decision that there may not be two competitive applications in any given year to be able to award.
Questions: For additional information on this grant, please contact Amanda Cooley, Corporate Giving and Community Relations Coordinator, via email or 207-622-5801.