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For foundations, a matching gift is a grant made directly to a nonprofit on the condition that the nonprofit raises a set quantity of money before the grant is bestowed. The benefit of foundation matching grants is that they provide greater incentive leverage when a nonprofit is fundraising from its constituency.
Specifically, the bill “directs the Internal Revenue Service (IRS) to establish a Community Volunteer Income Tax Assistance Matching Grant Program to provide matching funds for the development, expansion, or continuation of tax preparation programs to assist low-income taxpayers and members of under-served populations.”
[8] The ORR uses a matching grant program to provide funding for its affiliate voluntary agencies. These voluntary agencies are then expected to operate the program through their national networks. The ORR “awards $2 for every $1 raised by the agency up to a maximum of $2,500 in Federal funds per enrollee.
“The Higher Education Capital Matching Grant program (HECap) is a stellar example of a public-private partnership that works for all New Yorkers," state Sen. Toby Ann Stavisky, D-Whitestone, said.
The extension of the program will help fund local nonprofits assisting low-income families around Beaver County. United Way announces extension to grant matching for ALICE Fund, mini-grants for ...
The Department of Health and Human Services currently funds the majority of IDAs through Assets for Independence (AFI), a competitive grant program administered by the Office of Community Services (OCS). [15] OCS awards grants to nonprofit entities and state, local and Tribal governments that administer AFI projects. Grantees are required to ...
A typical requirement is similar to matching funds where funds must be raised or acquired from other sources following a stated matching factor, often 2:1, 3:1 or 4:1. For example, a $1,000 challenge grant with a 3:1 match would require the recipient to raise $3,000 before they would receive the $1,000 grant.
Funds are only released as matching funds are produced (information below). The following is an example of the grant-giving process to a nonprofit. An organization that receives a $20,000 grant from AFI, but only has $5,000 of matching funds initially will receive $5,000 from the AFI grant and the rest of the $20,000 as more funds are raised.