For: Current Partners (“Renewal Applicants”)
As you may have seen in our recent announcement, RTNF plans to finish our work by spending down the foundation assets over the next decade. In preparation for the transition–and in order to better serve our partners–we are making some adjustments to our application process that will begin in 2023.
Below, we have outlined key points about the new renewal application process, including important due dates. Please note, the process outlined below applies only to current partners seeking renewal funding (for information about the process for new applications, see this other blog post).
As we roll out this new renewal application process, I want to highlight some of the more meaningful changes to the process.
First, current partners seeking renewal will now be able to complete reporting requirements and submit for additional funding at almost the same time (once a partner submits their annual milestone report, then they will immediately be able to access an application for renewal funds).
The second key change for renewal applicants is that the application is shorter, both in duration and content. Whereas previously our partners had to engage in both primary application and due diligence stages of review–the same process new applicants went through–partners seeking renewals will now have only one stage of review. This one stage of review will be an abbreviated version of our historical due diligence process that focuses on key updates and ongoing goals. It’s worth noting that funding decisions will be made about 3 months from the application deadline, whereas in the former process final awards were announced 8 months from application submission.
A final change to note is that while RTNF has historically provided 3-year grants, we will move to 1-2 year funding commitments at a time to ensure that as we spend down, we can manage our cash flow to meet commitments. Still, partners will be welcome to submit requests for renewal funding during their annual reporting.
Below, we have summarized the changes you can expect, but also what you can expect to remain the same here at RTNF.
For more detailed information about the process and key dates for the two semi-annual application cycles, check out our new grantmaking process page for current partners seeking renewal funding.
We hope that having the ability to choose the most convenient application time, having a shorter application, and getting faster responses will serve our prospective applicants and current partners and free up more of their time to do the work that really matters. As always, at RTNF we welcome and appreciate your feedback.