To qualify for BOLD funding, applicants must:
- Be a firm, corporation, or other business entity, public or private (documentation required in application for verification). No individuals may apply. Applications are encouraged from Alabama-recognized non-profit organizations (IRC Section 501(c)(3) entities preferred), post-secondary education institutions, and relevant for-profit enterprises, particularly those with a social impact focus. Minority-, women-owned, and disadvantaged business enterprises (MWDBEs) are strongly encouraged to apply.
- Provide a cost matching plan, with matching funds secured at a rate of 20% of the total project budget (not 20% of the amount of funds requested from BOLD). For example, if an application has a total project budget of $250,000, the proposal may request up to $200,000 from BOLD and provide the other $50,000 toward the project as leveraged funding. Proposals that do not meet the 20% leveraged funding requirement of the total project budget will not be eligible for consideration.
- Demonstrate organizational fiscal sustainability by uploading financial documentation to the application, including 1) a Profit and Loss Statement, and 2) IRS form 990 or 990-N (if tax-exempt entity) OR a recent audit report (if for-profit entity).
Funding Restrictions:
- Funding for construction will not be provided.
- Any equipment over $5,000 will require prior approval from IEO.
- Most BOLD awards range from $50,000 to $150,000, though compelling proposals for other funding amounts will be considered.
- The specific project that is proposed for BOLD funding cannot be supported by other City funding sources (i.e. the budget narrative for the proposal should not include other City of Birmingham funding sources). See Frequently Asked Questions for more information.
