The Episcopal Seniors Foundation will provide grants to qualified applicants to achieve its Mission as stated above.
The Episcopal Seniors Foundation will create an annual budget not to exceed 4% of the balance in its Participating Account, calculated on a rolling average of the 12/31 balance the previous three calendar years. The amount available for grants will be the annual budget less the appropriate and usual Board expenses (costs of travel, at least one board retreat annually), such expenses not to exceed $10,000 annually. Acknowledging that the ESF board is about giving away money, the board is not required to award the full amount available for grants. Any amount not awarded may be added to the amount available for the next year or, at the board’s discretion, may be returned to the participating fund.
Grants will be awarded for programs and initiatives that will benefit senior adults, generally those 62 and older. Other age groups may also benefit from the grant as long as the primary benefit accrues to the senior adults.
From time to time, ESF may partner with another entity to fund grants. ESF may partner with other Episcopal entities or with secular or governmental entities, at the discretion of the board.
Grants will be made to charitable entities located within the geographical boundaries of The Episcopal Diocese of Texas. At the discretion of the board, grants may be made to other individuals, groups of individuals, or charitable organizations.
Grants to entities may not exceed $25,000 in one calendar year and may be renewed for a period not to exceed three years and $75,000.
Multi-year, diminishing-amount grants will be considered on a case-by-case basis.
The ESF Board is granted wide discretion in awarding funds. Preference is given to a new undertaking or a specific project, but operating fund grants are not prohibited.
In all cases, preference will be given to those whose funding sources are limited.