MagyarBank Charitable
Foundation Grant
Application

To apply for a grant from the MagyarBank Charitable Foundation,
please review the following information, and include all the required
documentation along with your application.

Grant Eligibility

Awards will include support for program development as well as for new and expanded facilities and equipment
Grants or awards are generally limited to use in the market areas served by the Community
Grant recipients must demonstrate Section 501(c)(3) or other non-profit status, a need for private financial support and a direct relevance to the Foundation’s areas of giving interest.
The Foundation does not provide financial support for political organizations or candidates for political office, religious organizations or activities for sectarian purposes.
The Foundation does not generally make contributions to individual endeavors other than scholarships

Grant Making Criteria

All grants must be approved by a majority vote of the Board of Directors of the Foundation before any such funds are disbursed. All grant proposals will be evaluated to ensure that they conform to the Foundation’s policies and fit within the Foundation’s mission. The Foundation will consider supporting projects and initiatives that meet one or more of the following criteria:

Are directly related to the Foundation priorities and areas of interest stated above;
Include a strategy for leveraging other resources and support from the region;
Produce cost effective results that can be measured and evaluated;
Provide incentive and stimulation for the private and public sectors to work together in community problem solving;
Encourage the coordination with other efforts;
Advance innovative and long term strategies that will address recognized needs; and
Demonstrate an ability to be sustainable or to obtain future funding if it will be needed.

Grant Application

The applicant for a Foundation grant will be asked to submit a written request using the Foundation’s current Grant Request Application describing the initiative seeking support. Some information required on the application includes:

a statement of purpose
target area the project addresses and the goals it hopes to achieve
financial statements
sources of funding (including other contributors)
the organization’s total budget
total project budget and amount requested
Bank employee, director or advisory director knowledgeable about the project or initiative
list of the organization’s officers and board of directors
evidence of non-profit status
annual report (if applicable)

To apply for a grant, please submit your request in writing to:

MagyarBank Charitable Foundation
c/o Magyar Bank
400 Somerset St.
New Brunswick, NJ 08901

Grant Application

Visit any Magyar Bank location, call 1-888-990-BANK or complete our contact form for more information and to open your account.

MagyarBank Charitable Foundation Grant Application

Grant Eligibility

Grant Making Criteria

Grant Application

MagyarBank Charitable
Foundation Grant
Application