33 State St. Suite 344 | New Albany, Indiana 47150
phone (812) 945-4332 | fax (812) 945-4334
e-mail staff@horseshoefoundation.org
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policy-guidelines

Policy & Guidelines

 

Approved 08.16

The Horseshoe Foundation of Floyd County was established in October 1999 by Caesars Indiana in partnership with public officials from Floyd County and New Albany, Indiana.  The foundation was created to provide a much-needed funding resource to the city/county's not-for-profit organizations, governmental entities, school corporations, etc. 

 

The Horseshoe Casino Southern Indiana rebranded in 2008 and so did the Foundation.  Horseshoe Southern Indiana makes monthly contributions to the foundation based on a percentage of casino revenues.  The income to the foundation is utilized for both direct grantmaking by the foundation and to build a foundation endowment.  The Foundation will use the investment generated income to ensure an additional grantmaking capacity well into the future for the benefit of FloydCounty residents.   

 

The foundation is managed by a Board of Directors comprised of seven members representing both Horseshoe Indiana executives and FloydCounty and New Albany elected officials.  The foundation's grants program is administered by a Grants Committee comprised of twenty-six individuals who represent a broad cross-section of the FloydCounty and New Albany communities.    

 

Grants Program Categories

 

The Horseshoe Foundation of Floyd County addresses the diverse needs of the residents of Floyd County, Indiana.  The foundation's grantmaking generally falls into the following categories:

 

Community Development - to include support of projects and programs related to community infrastructure improvements, public safety, economic development, housing, historic preservation, citizen involvement, civic leadership training, and other general community activities;

 

Education - to include support for programs in pre-school, elementary and secondary education, post-secondary education, and for special education programs;

 

Human Services - to include the support of human service related programs in the areas of children and youth, senior citizens, disadvantaged populations, etc.;

 

Arts/Cultural Affairs - to include the support of programs and facilities which are designed to establish a diversified cultural program that offers wide-spread opportunities for participation and appreciation;

 

Health & Medical - to include the support of health and medical-related programs.

 

Guidelines and Policies

 

In order to most effectively fulfill its philanthropic responsibilities, the Horseshoe Foundation of Floyd County operates in accordance with the following guidelines and policies:

 

1.  Geographic Restrictions:  Grants will be made only to organizations whose projects and programs benefit the residents of FloydCounty and New Albany, Indiana.  If serving clients from other geographic areas, the organization may be funded for that portion of its proposed project that directly serves FloydCounty residents.  Such grant applicant organizations must report the breakdown of its clients by county and/or state.

 

2.  Grant Cycles:  Grants will be awarded by the foundation in two semi-annual grants cycles in accordance with its published schedule.  Emergency grant applications may be considered by the foundation in between these regular semi-annual grantmaking cycles based upon very compelling circumstances and/or special time constraints related to the respective grant requests as determined by the foundation's Board of Directors.

 

3.  Grant Amounts and Allocation:  Generally, grants will not exceed $25,000 other than on rare occasions due to their exceptional merits in terms of extreme emergencies, unusual broad community benefit, and/or major leveraging of other financial resources.

 

Normally, not less than 5% of the foundation's grants per cycle will be awarded in each of the categories of Community Development, Education, Human Services, Cultural Affairs, Health & Medical to ensure an equitable grant distribution among many worthy projects in Floyd County. 

 

4.  Tax Exempt Status:  Grant applicants must qualify as exempt organizations under the Internal Revenue Service 501(c)(3) status or be sponsored by such an organization or qualify as governmental or educational entities or possess similar attributes.  The Foundation verifies each organization’s status through the IRS Charitable Organization listing found on IRS.gov.  All organizations must annual file the Form 990 to maintain current nonprofit status with the IRS. 

 

5.  Number of Applications:  A qualified organization may submit only one grant application per each semi-annual grant cycle and the chief executive of the organization must sign the submitted grant application form online.  A grant application submitted by a parent, teacher, or booster organization will be considered as a grant from the related educational institution and must be approved and signed online by the chief executive of that institution.  In the case of public schools, the principal of the school and the superintendent of the school system must approve and sign the online grant application.

 

6.  Previously Funded Organizations:  An organization that receives a grant award from the foundation will not be eligible to receive another grant for 12 months after the award date.  An organization receiving a major grant will not be eligible until after the final payment of the grant.

 

 

7.  Applications involving schools:  Organizations who are proposing programs for public or private schools are required to have documentation of support from the school or the school system.  (Example:  Letter from superintendent if the project includes all schools or from the principal if it involves a single school.)  Organizations which submit proposals requesting funds for students in general are asked to include students in public and private schools.  (Example: student tickets for children’s theater program.)

 

8.  Matching Funds:  Grant applications that include the participation of other contributors by using challenge, matching, or similar grant techniques, are encouraged. 

Some types of proposed projects, such as those for technology- related equipment, vehicles, and/or supplies and educational-related travel will generally be funded on a matching grant basis. 

Payment of matching grants will be made only after the required matching funds are obtained by the grantee organization and verified in writing to the foundation. 

 

9.  Foundation Recognition:  Organizations applying for grants must be willing to provide recognition to the Foundation.  A statement on how the foundation will be recognized for the gift if a grant is         awarded is required in the application.  The grant final report requires the following:

  • Samples of publicity/articles, programs, press coverage and other such documentation.
  • Samples of CDs, audio or video material (if a part of this grant); and
  • One or two photograph(s) of grant related activities- sent to us electronically or on disc (please identify any people/activities pictured and photographers who should be given credit and have permission for us to use the photographs in our publications).

 

10.  Ineligible Projects:   The following listed projects will generally not be eligible for foundation grants:

•     For school or organizational trips 

•     For any type of run, walk, dance-a-thon or fundraising event.

•     For golf scrambles or similar events.

•     For endowment funds;

•     For fundraising expenses;

•     For direct or indirect, administrative/operating expenses, (example of an indirect expense would be a % to another organization who is a fiscal agent);

•     For projects that can/should be funded by public tax revenues;

•     For educational scholarships since the Foundation has a separate scholarship program;

•     For sectarian religious purposes exclusively but may be awarded to religious organizations for projects that benefit the broader community;

•     For projects, programs, and/or equipment which were committed to prior to the grant applications being submitted;

•     To attempt to influence legislation or to intervene in any political campaign (including the publishing or distribution of statements) on behalf of any candidate for public office.

 

Notes:  The Foundation's Board of Directors reserves the right to make exceptions to these published guidelines and policies.

 

Because the foregoing grant guidelines, policies, and procedures are brief and do not cover every aspect of the Horseshoe Foundation of Floyd County grants program, the most effective means of making initial contact with the foundation may be through an e-mail (staff@horseshoefoundation.org), a telephone call or letter of inquiry addressed to the foundation office.

 

Grant Application Procedures

 

1.  Applications:  The Horseshoe Foundation of Floyd County utilizes an online grant application and reporting format.  The application can be found on the Horseshoe Foundation Website www.horseshoefoundation.org.  When the cycle is open for applications, a link will be available under Apply for a Grant-Application. 

 

2.  Evaluation:  The grant applications received by the foundation are evaluated on a numerical point rating system to ensure the selection of grant recipients on an equitable basis considering, among others, such factors as project need, project impact, organizational capacity, and financial implications, (each area approximately 25 points totaling 100 maximum rating points).

 

3. Process & Approvals: Generally, Foundation Grants Committee members will talk to/meet with grant applicants or conduct site visits when appropriate to better evaluate grant applications.  The Foundation's Grants Committee strongly feels that this is an important interactive process between foundation representatives and grant applicants prior to grant decisions being made.  After thorough grant application assessment and deliberation, the Grants Committee, collectively, will make grant award recommendations to the Foundation's Board of Directors for final grant action decisions.

 

4.  Grants Program Schedule:

The foundation awards grants on a semi-annual basis in accordance with the schedule below. 

 

First semi-annual grants cycle:

March 31st                              Grant application deadline

Mid-June                                 Notice to grant applicants of Board of Directors' actions.

 

Second semi-annual grants cycle:

August 31st                              Grant applications deadline

Mid-November                       Notice to grant applicants of Board of Directors' actions.

 


Horseshoe Foundation of Floyd County, Inc.

33 State Street, Suite 344

New Albany, IN  47150

 

Telephone:                   812-945-4332

Fax:                             812-945-4334

E-mail:   staff@horseshoefoundation.org     

Website: www.horseshoefoundation.org