WHAT CAN I NAME A RESTRICTED FUND?
A donor may use his/her own name or that of a loved one or colleague. A firm, law office, business or other organization may use its own name. The name of the restricted fund will appear in Foundation publications such as the Annual Report. You can also choose a name that is representative of the types of programs you want to support.
IS THERE A MINIMUM GIFT VALUE REQUIREMENT TO ESTABLISH A RESTRICTED FUND?
The minimum required gift value to establish a restricted fund is $10,000. There is no cap on the maximum value in a fund.
CAN OTHER PEOPLE CONTRIBUTE TO THE FUND I ESTABLISH?
Yes, if you select the option to allow it.
IS IT POSSIBLE FOR ME TO ESTABLISH A RESTRICTED FUND THROUGH MY WILL?
Yes, you can leave a bequest to establish a restricted fund through your will with instructions as to the name and purpose of the fund.
WHAT KIND OF ASSETS CAN I CONTRIBUTE?
Assets accepted by The Foundation include cash, securities traded on major exchanges, closely held stock, bonds, mutual fund shares, real estate (including farm land), life insurance policies and interests in limited partnerships.
ARE MY CONTRIBUTIONS TAX DEDUCTIBLE?
The New York Bar Foundation is a not-for-profit organization pursuant to the Internal Revenue Code, Section 501(c)(3). Gifts to The Foundation are considered charitable contributions and are tax deductible, as allowed by law.
HOW ARE THE FUNDS INVESTED?
The Foundation’s Board of Directors is responsible for overseeing the investments of The Foundation’s portfolio by professional investment managers. The investment strategy is to obtain prudent growth of the capital while still producing income.
CAN I GET A REFUND OF A CONTRIBUTION MADE TO THE FOUNDATION?
All contributions represent an irrevocable charitable contribution to The New York Bar Foundation and are not refundable.
DO YOU HAVE A GRANT APPLICATION DEADLINE?
Yes, the deadline is SEPTEMBER 15 of each year.
IS THERE A RANGE OF VALUE FOR A GRANT?
There is no specific range of value for a grant, however, the average grant is approximately $5,000 to $10,000 with very few grants exceeding $15,000.
HOW DOES MY ORGANIZATION APPLY FOR A GRANT FROM THE NEW YORK BAR FOUNDATION?
You may apply for a grant by either of the following two ways:
Prepare your application electronically by using the “Apply for a Grant” feature on the home page of the web site.
1. E-mail your application and all other requested materials to [email protected] or
2. Print out your completed grant application and submit by mail.
WHERE DO I SEND IT IF I WANT TO MAIL A HARD COPY OF A GRANT APPLICATION?
Our mailing address is:
THE NEW YORK BAR FOUNDATION
ONE ELK STREET
ALBANY, NY 12207
IF I SUBMIT A GRANT APPLICATION BY E-MAIL SHOULD I ALSO SEND A HARD COPY?
No, it is not necessary to submit a hard copy of the grant application if sending it electronically.
HOW LONG DOES IT TAKE TO LEARN IF OUR ORGANIZATION WILL RECEIVE A GRANT?
Applicants will be notified in February of the following year for applications submitted by September 15.
WHEN DOES YOUR BOARD OF DIRECTORS MEET TO REVIEW GRANT APPLICATIONS?
The Board reviews grant applications at the end of January for those submitted on or before September 15.
ARE THERE RESTRICTIONS ON GRANT APPLICATIONS?
Yes, in order to be considered, your grant application must relate to one or more of the following four areas:
1. Facilitating the Delivery of Legal Services
2. Improving the Justice System and the Law
3. Increasing Public Understanding of the Law
4. Enhancing Professional Competence and Ethics
WHO RECEIVES GRANTS FROM THE NEW YORK BAR FOUNDATION?
Only law-related programs in New York State can propose and receive a grant. Past recipients include legal services programs, nonprofit organizations, and bar associations.