Appendix L: Nonfederal Share Commitment Letters |
|||
PDF Version (21KB)
Nonfederal share commitment letters demonstrate to OCS that an AFI applicant has the required amount of nonfederal funding (at least equal to the amount of Federal money requested). Applicants must include letters or documents confirming these commitments with their applications for AFI grants. There is no preferred format for these letters or documents. They simply must indicate the amount of funds committed and be signed by authorized representatives.
In addition, it is helpful to include a clear statement about the proposed uses of the donated funds. This helps to ensure that the nonfederal funders, the applicant organization, and the AFI Program staff will understand the proposed project budget. Are funds to be applied to match the total Federal request, and thus to be allocated in the same proportions between participant matches and operational costs, or are any funds restricted in use. For example, funders sometimes agree to support only homeownership, or small business, or education, or only participant matches and not operational costs. There may be multiple sources of nonfederal funds that together equal the amount of the Federal request. It is not necessary to document in-kind support for the AFI proposal, though you may wish to do so for other purposes. Below are examples of AFI Project nonfederal cash contribution letters of commitment.
SAMPLE NONFEDERAL SHARE AGREEMENT # I
(Note : In this example, the term " AFI Project Agency " refers to the grantee. The term " AFI Project " refers to the grantee's IDA initiative. You probably will want to replace that term with the grantee organization's name and/or the name of its IDA initiative.)
Name of the Nonfederal Funder has awarded $( total amount ) to the AFI Project Agency to support the implementation of their AFI Project Individual Development Account Program. Name of the Nonfederal Funder will provide $_____ to support the overall project.
Name of the Nonfederal Funder empowers AFI Project to commit $_____ of the total award for funding under the Assets for Independence Demonstration Program. These funds are to be used exclusively to support the AFI Project.
These funds will be disbursed as necessary, and in accordance with the approved funding application submitted to Name of the Nonfederal Funder when the AFI Project application to the Assets for Independence Program is funded.
Signed by Official of Name of the Nonfederal Funder________________________________ Date_________________
AFI Project Agency Representative______________________________________________ Date_________________
SAMPLE NONFEDERAL SHARE AGREEMENT #2
Name of the Nonfederal Funder has committed $_____ to the AFI Project Agency for support of its Asset Building Program. On ( date ), Name of the Nonfederal Funder delivered to AFI Project Agency staff $_____of these funds. The remaining funds will be delivered in Year Two of this program, by ( date ). Name of the Nonfederal Funder has provided $_____in match dollars for homeownership accounts. The remaining funds, $_____, will be used to support project administration and evaluation.
Name of the Nonfederal Funder empowers AFI Project Agency to commit $_____ of the match funds for the purposes of the AFI Project application for funding to the Assets for Independence Demonstration Program.
In addition, Name of the Nonfederal Funder will provide in-kind services appropriate to support the program, such as assistance with economic literacy classes, financial mentors for participants, assistance with homeownership trainings, and training on home mortgages.
Name of the Nonfederal Funder is pleased to support the efforts of AFI Project Agency as they begin the pioneering work of providing economic literacy and asset building opportunities for low-income individuals of ( community name ).
Signed by Official of Name of the Nonfederal Funder________________________ Date________________________
AFI Project Agency Representative______________________________________ Date________________________