BankNewport Extends Grants to the RI Foundation and United Way
Our Board of Directors proactively extended two large grants to help rapidly deploy financial resources to nonprofit organizations that are on the front line of the COVID-19 response in our state: a $50,000 grant to the Rhode Island Foundation Response Fund and a $50,000 grant to the United Way of Rhode Island’s Response Fund. Both organizations are working collaboratively to assist nonprofit organizations who provide direct service to families and neighborhoods, and to meet their most urgent needs through this public health emergency.
In the Community9,000+ Volunteer Hours in 2019!
Being a community bank means helping our customers, but for us, it does not stop there. We know we must also help all members of the community. We have been committed to supporting the communities we serve since our founding in 1819. This commitment continues today, with the goal of helping to build and maintain successful communities. Through our charitable giving program, we support many nonprofit organizations and programs to enhance the overall quality of life in the communities we serve.
BankNewport and OceanPoint Insurance are proud of our community outreach efforts. We care about the people we serve and the communities that make Rhode Island such a wonderful place to live.
In 2019, BankNewport awarded over $1.1 million in grants, sponsorships and donations to a wide range of nonprofits serving various sectors of our state: basic human needs, children and families, healthy lives, education success, environment, arts and cultural, housing and economic security. Financial education and community involvement by employees totaled 9,000+ hours.
We funded over 250 nonprofits last year!
How to Apply
We encourage you to thoroughly review our guidelines and submission timeframes for the respective Sponsorship and Grant committees before starting the application process. Please be prepared to complete the application and upload the required documents in one session, as you will not be able to save in-progress applications.
Our online application information is contained on a third-party site. Please follow the link below to learn more and to apply.
Submission Guidelines & Deadlines
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We encourage you to thoroughly review the following guidelines and submission time frame for the respective Sponsorship and Grant committees before starting the application process. Please be prepared to complete the application and upload the required documents in one session, as you will not be able to save in-progress applications.
BankNewport Grants and Sponsorships are generally limited to nonprofit organizations that have a bank and/or insurance relationship with us.
BankNewport does not ordinarily contribute to:
• General operating support
• National organizations, including state and local chapters
• Individuals or families seeking scholarship or other assistance
• Memorial events including run/walks
• Religious, fraternal or political organizations
• Individuals without an organizational affiliation
• Trips, tours, transportation costs, seminars and conferences
• “Pass through” fundraisers
• Annual appeals
• Playground projects
Please note: The submission of a grant proposal or sponsorship request does not guarantee it will be funded. In addition, in an effort to increase the number of organizations who have access to BankNewport’s community outreach support, an organization may receive a grant or a sponsorship, but not both in the same calendar year.
BankNewport’s Sponsorship Review Committee reviews requests on a quarterly basis. Requests are reviewed at meetings held in February, May, August and November. Applications must be submitted by the following deadline dates for consideration:
• February Meeting - Deadline February 1
• May Meeting - Deadline May 1
• August Meeting - Deadline August 1
• November Meeting - Deadline November 1
The application deadline for your event/program is 90 days prior to the meeting deadline. The Committee will review no more than one proposal from an organization in a twelve month period. The Committee does not make multi-year commitments, and support in one year does not imply continued support in future years. There are no provisions for presentations to the committee. If funding were to be approved in consecutive years, the Sponsorship Review Committee may also limit funding support to a maximum of three consecutive years with a one year moratorium after the third year. Organizations awarded a sponsorship of $2,500 or more will be required to provide a narrative report at the conclusion of the program/event.
Please be prepared to upload the following documents for Sponsorship review:
1. A letter stating the amount requested and the purpose of the funding.
2. A brief description of the organization’s mission, history and accomplishments.
3. Please also include other major funders that support the organization and event/project.
4. Organization must hold a federal tax-exempt 501(c) (3) status, as determined by the Internal Revenue Service; a copy of the determination letter must be provided.
5. If you have not previously shared your organization's W-9 with us, please upload a copy to the attachment section.
BankNewport grants are administered by the Community Fund Committee. Grants are made to support specific programs or capital fund requests, including essential health and human services and community development programs that serve low to moderate income individuals. Requests for annual operating support, including salaries and stipends, will not ordinarily meet funding criteria.
Requests are reviewed at meetings held in April and October. Applications must be submitted by the following deadline dates for consideration:
• April meeting – Deadline of March 15
• October meeting – Deadline of September 15
The Committee will review no more than one grant submission from an organization in a twelve month period. The Committee does not make multi-year commitments, and support in one year does not imply continued support in future years. Organizations awarded a grant will be required to submit a final grant report. There are no provisions for presentations to the committee.
Please be prepared to upload the following documents for a grant review:
1. A letter with a brief description of the organization’s mission, history, and accomplishments.
2. A narrative clearly defining the goals and objectives for the requested project; include the criteria by which the project will be measured, evaluated and the expected outcomes.
3. Operating budget for the current year for both the organization and the project to be funded, with projected revenues and expenses.
4. Organization must hold a federal tax-exempt 501(c) (3) status, as determined by the Internal Revenue Service; a copy of the determination letter must be provided. If you have not previously shared your organization's W-9 with us, please upload a copy to the attachment section.
5. List of all officers and board members with any compensation provided by the organization, or a statement that no compensation is paid.
6. An audited financial statement for the organization for the past two fiscal years.
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