Potential Sources of Funds - Essay Example

The program covers education institutions including colleges and universities. Chesapeake Bay Program awards an average of $1 million. In addition, the grant funds 20% of applications. Depending on the financial requirements of a project, the Chesapeake Bay Program offers the funds for one year. Individuals or institutions in need of grants can access the funds 6 to 8 months after the issuance of the request for a proposal. The grant requires that a cost-share of 25% of the total costs as stipulated by the project budget (2012-2013 Guidelines for Financial Support Grants).

Online or mail applications can be used to apply for the Chesapeake Bay Program grant.Source Reduction Assistance Grant ProgramSource Reduction Assistance Grant Program is another key source of funds. The program covers clubs and organizations, communities groups, and local organizations that aim at eradicating the toxic substances used by young people. With an annual award of between $1.1 million-$1.7 million, the program funds 15% of the grant applicant. In addition, projects are funded on an annual bases.

According to Source Reduction Assistance Grant Program, recipients of the grant should provide 5% of the allowable project cost that can be informed of in-kind contributions such as equipment or in form of cash (Samuel, 2007). Application for Source Reduction Assistance grant can be done online or through the mail after which the successful applicants receive Grants between May and August.The table below indicates the evaluation of the project in reference to the requirements of sources of funds.

EvaluationResponseDoes the project fit the scope and objectives of the RFP?Yes. Bonnie Brae residential center is a local organization that aims at transforming the lives of local people. Is the approach of the project compatible with that of the funding source?Yes. The funding sources advocates for a matching amount. This can be contributed by local agencies and other members of the community as outlined by the project proposal.Will the project include the collaboration of the partners outlined?Yes. Partners will include residential staff, law enforcement officers, members of the community, and local support agencies.

Will the project staff have the necessary expertise to fulfill the requirements identified in RFP?Yes. Qualified staff and clinical director will oversee the management of the project.Are all of the costs necessary to implement the program allowed by this funding source?Yes. Since the costs are incurred solely to provide health support in a residential health center.Are the funds available sufficient to support your program?Yes. The two sources of grants have adequate funds to cater for all the expenses of the projectSource- (Samuel, 2007).