Innovation Grants Overview and Application Guidelines

Introduction

Through the 2010 Dollar Wi$e Innovation Grants Program, two cities will receive grants for $20,000 each to foster innovation in their ongoing local financial literacy efforts. The Mayors' National Dollar Wi$e Campaign, created by The United States Conference of Mayors and underwritten by Bank of America and the members of the Council for the New American City, seeks to offer grants to local financial education programs that are both creative and effective. Programs selected to receive grants will have demonstrated the potential to grow in their community and to be replicated and adapted by other cities .

Why should your city apply?

• Two cities will receive grants for $20,000 to foster innovation in their ongoing financial literacy campaigns.
• Recipients and finalists will be featured in an awards ceremony at the 2010 winter meeting of The United States Conference of Mayors in Washington, D.C.
• Recipient and finalists will also be featured in U.S. Mayor, the Conference of Mayors' newspaper; on usmayors.org, the Conference of Mayors' award-winning Web site; and in other promotional literature.
• Dollar Wi$e grant recipients are model programs for other cities to follow.

New application process for 2010

A few modifications have been made in the application process for the 2010 Dollar Wi$e Innovation Grants. The most significant modification is that the application is now a "two-tier", or two-step, process. In the first step, cities interested in applying for the grants must submit a one- to two-page preliminary proposal, providing a brief overview of the city's current financial education efforts and how the city would use a Dollar Wi$e grant. From among the cities that submit a preliminary proposal, ten finalists will be selected and invited to submit a complete application, very similar in shape and scope to previous years' applications.

Timeline

2009

• November 2: Application period opens; preliminary proposals from interested cities accepted
• November 20: Preliminary proposals due by 5:00pm EST
• December 1: Finalists notified and can begin submitting complete applications online
• December 14: Finalists' applications due
• December 21: Grant recipients notified of awards

2010

• January 20-22: The United States Conference of Mayors' winter meeting
• spring: Local award presentations in recipient cities

Applying for a Dollar Wi$e grant

Step one | For all cities interested in applying for a grant

All cities interested in being considered for a Dollar Wi$e grant must submit a one- to two-page preliminary proposal.

• Preliminary proposals must be submitted via the online form at www.dollarwiseonline.org and may not exceed the space/character count allotted.
• Preliminary proposals should:
  o Provide a brief overview of the city's current financial education efforts.
  o Briefly describe what the city would do with a Dollar Wi$e grant.
• Cities must provide the name and contact information of a city staff person to whom communications on the grant application process, including the results of judging, may be directed.
• No other letters, attachments, or other materials should be submitted at this time.
• The Mayors' National Dollar Wi$e Campaign will begin accepting preliminary proposals November 2. Preliminary proposals are due by 5:00pm November 20. Any Preliminary proposals submitted after this deadline will not be accepted.
• All applicants will receive notice of the status of their application, including if they are invited to move on to step two and submit a full application, by December 1.

Step two | For finalists invited to submit a complete application

From among the Preliminary proposals received, ten finalists will be selected and invited to submit the full application.

• Finalists should complete the full application online using the access code provided. Responses may not exceed the space/character count allotted.
• The full application asks more specific questions about the city's current efforts and plans for a grant. Applicants should be prepared to provide more detail information about the city's financial education program and how it would use a Dollar Wi$e grant.
• If the city is designating a nonprofit partner as the eventual recipient of the grant's funds, the applicant should be prepared to provide contact information for the nonprofit, a description of its work, and how its efforts support the city's financial education program.
• Each city may submit one attachment to be included with its application. Attachments should be limited to a single document, such as a brochure or letter of support, and may be submitted via e-mail or postal mail. Submitting an attachment is optional.
• The Mayors' National Dollar Wi$e Campaign will begin accepting full applications December 1. Completed applications, including any attachments, must be submitted by 5:00pm EST December 11.

Attachments

Mayors' National Dollar Wi$e Campaign The United States Conference of Mayors 1620 I Street NW, 4th Floor Washington, D.C. 20006

Cities invited to complete a full application will be permitted to submit one attachment, such as a brochure, video, or other multimedia piece, with their application. If you intend to submit an attachment, please so indicate in the space provided on the application. Attachments should be emailed, if possible, or mailed to the Mayors' National Dollar Wi$e Campaign. (Our address is at right.)

Large computer files-those larger than about 7 MB but smaller than 100 MB-can be sent electronically for free via the Internet at YouSendIt. Please visit www.yousendit.com for more information. Attachments must be received by 5:00pm EST, December 11, 2009, or they will not be included with your city's application.

Cities should note that no additional information beyond that requested on the application is required and they should feel no obligation to submit an attachment. This opportunity is offered to those cities that feel an attachment can enhance their description of their existing financial education program or future plans.

Submitting an attachment is optional.

Grant obligations

Letter of intent
Once notified of award, recipient cities should submit a brief letter on city letterhead generally stating what the funds will be used for and what community organization/nonprofit, if any, will receive and administer the funds.

Mayor's attendance at winter meeting
Mayors of recipient cities should attend The United States Conference of Mayors winter meeting, January 20-22, 2010, in Washington, D.C., to accept their city's award.

Check presentation ceremony
Recipient cities should coordinate a check presentation ceremony in their community attended by representatives of Dollar Wi$e and Bank of America.

Use of Dollar Wi$e logo
Recipient cities should use the Dollar Wi$e logo on promotional, advertising/marketing, and curriculum materials produced by their local financial literacy campaign for one year from the date of the award. The logo will be made available online at the Dollar Wi$e Campaign's Web site.

File brief reports online
Six months and one year after receipt of the award, recipient cities must file a brief report back to Dollar Wi$e on the progress of their local financial literacy efforts funded through a Dollar Wi$e grant. A reminder and instructions on how to file this report online will be sent via e-mail to the contact person noted in the grant application.

Qualifying criteria

• Only cities that are registered members of The United States Conference of Mayors and the Mayors' National Dollar Wi$e Campaign as of November 20, 2009, may apply. For information on membership in the Conference of Mayors, please visit www.usmayors.org/about/membership.asp; for information on the Dollar Wi$e Campaign, please visit www.dollarwiseonline.org.
• Only a city may apply for a Dollar Wi$e grant, but the city can choose to have the award money given to a nonprofit, community-based organization (CBO), or other local partner. The city must specify this intent where indicated in the application.

Judging

Applications will be reviewed by an independent panel chosen by the Dollar Wi$e Advisory Board and will be judged on:

• The quality of your local Dollar Wi$e Campaign.
• Identifying your target audience and helping its members learn and apply sound financial skills.
• The reach of your local Dollar Wi$e campaign in the community as a whole.
• Your ability to build partnerships, leverage local human resources, and gain financial support.
• Innovation and creativity in connecting individuals to new ideas about and techniques for personal and family financial management.
• Self-evaluation methods.
• Future goals and plans.
• The impact a grant would have on expanding your efforts and fostering innovation in your local Dollar Wi$e campaign.
• The potential for your local efforts to be replicated and adapted by other cities.

Frequently-asked questions

Can more than one agency in the same city apply?
Yes. However, only one agency within the same city will receive a grant. It is advisable for applicant agencies to combine their submissions into a single, joint application.

My city works with a nonprofit partner to deliver financial education. Can they apply to receive a Dollar Wi$e grant?
Only a city may apply for a Dollar Wi$e grant. However, an applicant city can choose to have the award money given to a nonprofit, community-based organization (CBO), or other local partner. The city must specify this intent where indicated in the application.

Can my city apply for another Innovation Grant if we've already received one?
No. At the present time, past Innovation Grant (or Capacity Grant) recipients are not eligible to apply for another one. However, as the program grows and the grants increase in both number and size, that may change, so continue to check back. Additionally, receipt of an Innovation or Capacity Grant in the past also does not affect eligibility for a Dollar Wi$e Summer Youth Campaign (SYC) grant. (Look for more information on SYC grants in the coming months.)

Is it worth applying?
Absolutely. Your city has the opportunity to receive funds to support its financial education efforts. And some past recipients have applied for two or three rounds before being selected to receive a grant. So, our advice is, as the saying goes, if at first you don't succeed, try, try again.

When will the next round of grants be held?
It is expected that the next round of Dollar Wi$e Capacity Grants will be held in fall 2010, in approximately the same timeframe as this round. To be sure that you'll receive notification when the next round opens, please register your city in the Dollar Wi$e Campaign if it is not already or e-mail dollarwise@usmayors.org to make sure you are on the mailing list for the Dollar Wi$e Campaign's listserv.

Is my city automatically registered in Dollar Wi$e if it is a member of the Conference of Mayors? What does it cost? What is expected of cities registered in Dollar Wi$e?
No. Membership in the Conference of Mayors does not mean automatic registration in the Dollar Wi$e Campaign. A separate registration form can be submitted at www.dollarwiseonline.org. Registration in the Dollar Wi$e is:

• Under the direction of the mayor or an authorized representative.
• Open to any city in the United States and its territories.
• Free of charge.

Cities that register in the Dollar Wi$e Campaign designate a staff person in the mayor's office or elsewhere in city hall to be the contact person, to whom Campaign communications are directed. For more on the Campaign and its benefits, please view our publication The Guide or visit our Web site.