The Wold Foundation - Information for Grant Applicants
General Information
The Wold Foundation was incorporated in the state of Wyoming on December 2, 1985 by John S. Wold and members of the Wold family. The purpose of the Wold Foundation is to aid, assist, encourage and promote charitable, scientific, literacy and educational endeavors. The Foundation supports these endeavors through grants for research or publication through cooperation with agencies and institutions already in existence, or by any other means which may seem appropriate to the Foundation. Currently, the Foundation limits its grants to IRS-approved, tax exempt organizations now conducting or seeking to create worthy projects benefiting our society and mankind.
Criteria for Possible Selection Back to Top
There is a tremendous demand placed on the Foundation's resources and every effort is made to be as effective as possible in awarding the funds that are available for distribution. As part of that and in keeping with the family's philanthropic interests and the priorities established by the Board, the following guidelines will generally apply:
- Applicant organizations must be classified as 501(c)(3) by the Internal Revenue Service and operate within the continental United States.
- The Foundation will not consider grants to institutions which, in policy, or practice unfairly discriminate on the basis of sex, age or religion.
- The Foundation will consider only one request per year from each organization and would generally prefer to consider special projects.
Primary Areas of Interest Back to Top
The Wold Foundation
- Believes in building a stronger, healthier society and economic environment by supporting institutions and programs that endeavor to preserve traditional values and promote free enterprise and constructive public policy dialog;
- Has an ongoing interest in the growth and development of independent schools and private colleges;
- Believes in human-service organizations and youth programs that are aimed at helping people help themselves, realize their potential and lead productive lives;
- Continues to believe that cultural activities of a community are important;
- Encourages health programs that are preventive in nature, promote wellness and / or can demonstrate a reduction in healthcare costs;
- Will support preservation of historic sites and buildings where there is evidence that the facility will be used by a variety of community based organizations;
- Views conservation and outdoor recreation as supportive of its interest in health, education, leadership training and youth services;
- Encourages scientific endeavors that are aimed at improving the quality of life and that encourage conservation and the wise use of natural resources;
- Will promote youth programs that help develop mental and physical well-being, develop life skills necessary for productive adulthood, and encourage self confidence and self-reliance;
- Looks favorably upon projects and programs conducted by and for the benefit of Wyoming citizens and particularly Wyoming Youth;
- Will, from time to time, initiate programs of special interest to the Trustees.
General Restrictions Back to Top
- Though it is impractical to detail all parameters, the Foundation generally will not: Make loans or grants to individuals or loans to organizations;
- Engage in conduit funding: i.e., make a grant to an exempt organization which passes the funds on to another organization;
- Grants funds to retire debt; Purchase memberships or blocks of tickets;
- Purchase tickets for fund-raising dinner, parties, balls or other social fund- raising events;
- Schedule interviews with the Foundation Trustees unless the Trustees initiate the meeting;
- Fund churches or church projects;
- Grant monies to endowment funds;
- Support project involving court action;
- Reconsider previously denied proposals.
Application Guidelines Back to Top
The Foundation welcomes requests throughout the year; however, written proposals must be received by the published deadline prior to the Board meeting at which time they will be considered. Requests should be mailed to the Foundation office. Presentations to one or more of the Trustees should only be made at the request of the Trustee.
Content Back to Top
An Application for Grant form which covers all the necessary information is available from the Foundation office. As an alternative the Foundation will accept a brief letter, not exceeding two pages in narrative form, summarizing the project for which the funding is requested. The information needed is described below, and should be presented in the order shown.
- Name of organization and a brief history,
- Geographic location - state, city or town,
- Mission, purposes and / or goals,
- A description of the applying organization,
- Size in terms of physical plant,
- Number of people involved,
- Annual operating income and expense
- A clear description of the project for which the funds are being raised,
- What the project will cost over what period of time,
- How much money has been raised for the project to date and from what general sources,
- A statement as to why the project is important and whom it will affect.
In addition to this summary, the Foundation may request further information it deems necessary to complete its investigation. Among such items are the following:
- A copy of the organization's original IRS classification letter, plus such recent modification as might verify the organization's non-private foundation status, and a statement from a responsible officer that there have been no further changes in operations which might jeopardize the current tax-exempt status;
- A list of the board of directors complete with addresses, phone numbers and primary business or professional affiliation;
- A copy of the most recent annual audit, or year-end financial statements if an audit is unavailable;
- Any letters which may have been received from the accountant relating to the internal auditing controls;
- A description of the administration and officers who be responsible for carrying out the project including their names and titles;
- A copy of the most recently filed Form 990 Income Tax Return;
- A copy of the current year's projected budget of income and expense;
- A year-to-date record of income and expense showing variations from the current year's budget;
- A detailed budget for the project which would indicate how the requested funds would be spent over what time period. Applicants should be clear about the amounts being requested and the dates on which payments are going to be needed;
- A review of other public and private financial support with special attention being given to:
- A detailed analysis of trustee financial support and commitment for both the project in question and for the organization in general during the most recent fiscal year. No names, please;
- A review of the financial commitment of other foundations for the project in question, by name and amount;
- A review of the financial commitment of corporations for the project in question, by name and amount;
- A review of public sector support by name and amount; Any additional useful information about financial support from sources not included above.
- A careful projection, if appropriate, of how the project will be supported once any potential Wold Foundation commitment has been completed;
- An endorsement by the chief administrator of the organization with some statement as to the priority of this project.
Timing Back to Top
In order for each proposal to be thoughtfully studied, the applying organization should have their proposal to the Foundation by October 15 for consideration at the November Board meeting.
Notification Back to Top
The Wold Foundation will send letters outlining all Trustee decisions within two weeks following a Board meeting. In the case of organizations which have had grants approved, the Foundation respectfully requests that all proposed press releases be cleared with the Foundation.
Reports Back to Top
The Foundation requires that the responsible officer in each recipient organization submit a written report on what has been accomplished with the funds granted one year following each grant or upon completion of the project. Funds granted may only be expended for the purposes granted, and funds not spent over time must be returned to the Foundation, unless other arrangements have been approved of by the Foundation. A full and final accounting must be made on the completion of the project. From time to time, the Foundation will conduct post-grant evaluations of completed projects. The purpose of such evaluations is to help the Foundation examine its effectiveness. The Foundation will greatly appreciate the grantee's cooperation in this effort.
Inquires Back to Top
All inquiries should directed to:
The Wold Foundation
139 West Second Street, Suite 200
Casper, Wyoming 82601
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