Am I Ready To Submit My Letter of Intent?

Seven key readiness indicators will help determine if your organization is ready to submit a letter of intent:

1. You are able to make a strong case for why your organization and your proposed project fit within Kresge’s fields of interest and advance Kresge’s values. We ask that you make this case in a five page letter of intent that addresses the following bullet points:

• Provide an overview of your community and the role your nonprofit organization plays in it.
• Explain how your organization and the project you are proposing fits within the relevant Kresge fields of interest and explain with specific examples how your organization and project are advancing Kresge’s values.
• How does your project support your organization’s mission?
• Tell us about your fundraising campaign, including an overview of your campaign plan and how the campaign plan supports the long-term financial sustainability of your organization.

2. Your project-cost estimates are firm and the construction timetables have been established.
3. Your site control is finalized and all regulatory issues are imminent.
4. Your campaign plan is in place and includes both a clear end date and an established challenge strategy.
5. Your board is beginning to demonstrate its financial support for the campaign.
6. You have begun to raise private gifts for your campaign, including some private lead gifts. (Typically, we suggest at least 20% and sometimes as much as 50% of your private fundraising goal be raised before applying. If your private fundraising goal is quite large, then having more than 50% raised may be more appropriate. In every instance, however, letters of intent are evaluated first based on how well you advance the values that apply to your project or program and second, the status of your capital campaign.)
7. If your plan includes any of the following sources of funds, they should be committed, imminent or backstopped: long-term financing, government funds (if a substantial amount), organizational funds, or bequests. (See the resources box on the Challenge Grant page for a glossary of terms.)