In late January of each year, a detailed grant request form/questionnaire is sent to the current agencies that LTC supports. It requires IRS documentation (990’s) from the previous year, financial budgeting and expense statements, and past and current requests and use of LTC funding. All agencies that we support are verified IRS 501C3 tax exempt agencies. Agencies that have never applied in the past and who have indicated interest in receiving funding from us are also sent grant request forms. All requests are required to be submitted to us by mid March.
During April and May, the grant assessment team (about 15 Toxaway property owners, and many of whom are full time Toxaway residents) visit all current agencies on a 3 year cycle. ALL new agency requests are also visited during this time. The purpose of the visits is to interview the agencies and understand how our funding is being used, as well as to examine the appropriateness of new requests.
Approximately mid May, each year, our team meets to discuss and review each agency request. Prior to this meeting, each team member is assigned applications for review and comes prepared to explain their agencies’ requests. A working spreadsheet is utilized by the team to examine past grants, current requests, and a decision is made in that meeting (typically lasting 2-3 hours) whether the request will be honored.
There is no automatic funding/guarantees for continued funding. Each agency request stands on its own merit each year, and we “say no” if a new agency does not meet our mission’s criteria. We have, in fact, reduced funding and/or turned down current agencies based on our site visit and/or their current description of need.
Typically we distribute all available funds in June, with only a small portion held in reserve for “emergency requests” as the year goes on; for example, providing a new HVAC system for the SAFE House in Brevard in the middle of winter.
Lake Toxaway Charities also maintains an Endowment Fund which is held in reserve for emergency requests, anticipated growth of the needs in our county, and perhaps for years with less than average donations.
We currently have 51 agencies that we support for the hungry, homeless, the abused, and the medically and educationally deprived residents in Transylvania County.
Contributions since inception have exceeded $2,000,000; 35%, or $700,000 of that in the last two years alone.