Vector Wealth Strategies Community Impact Fund

Vector Wealth Strategies is a company committed to supporting local nonprofits through its grant programs, particularly within the Greater Huntsville area. The company established its Community Impact Fund in 2015, partnering with the Community Foundation of Greater Huntsville, and has continued its commitment by setting aside 10% of its profits each year for charitable causes. This fund focuses on making a difference in the lives of people in the community, particularly in areas such as disaster recovery, education, health services, and human services. In 2022, Vector's employees also founded the Vector CARES fund to focus specifically on education initiatives. The Vector Wealth Strategies Community Impact Fund is designed to support organizations addressing key community needs, particularly in disaster relief, education, health services, and human services. On the other hand, the Vector CARES Fund is focused exclusively on education, emphasizing initiatives that aim for systemic change in the education sector. Both funds have distinct committees for reviewing and awarding grants, with the Vector Wealth Strategies Community Impact Fund being reviewed by both the Community Impact Fund and Vector CARES Committees for educational programs. The grants range from $2,500 to $10,000, with funding decisions made based on several criteria. The primary focus areas for assessment include the impact the organization's work will have on solving problems in the community, the inspiration it generates for community involvement and volunteerism, the organization's capacity to execute the proposed work, and the organization's detailed budget and timeline. Successful applicants will be expected to submit a detailed report on how the funds were used and the measurable outcomes that resulted from the project. Eligible recipients must be 501(c)(3) public charities, which include schools, religious institutions, and government agencies when the funds serve public purposes. Grants are limited to organizations within the Greater Huntsville area, specifically Jackson, Limestone, Madison, Marshall, and Morgan counties in Alabama. Importantly, organizations that receive a grant from the Vector Wealth Strategies Community Impact Fund are not eligible to apply again for three rounds of funding, which means they can reapply every other year. However, this restriction does not apply to grants received from the Vector CARES Fund. The grant applications for the Vector Wealth Strategies Community Impact Fund must be submitted by 5:00 p.m. CDT on the last business day of April or September each year. The Vector CARES Fund, however, accepts applications on a rolling basis with no set deadlines. Applicants for both funds must meet specific criteria regarding the nature of the request and are expected to use the funds for program costs, operational expenses, or reasonable staff and volunteer training associated with the implementation of their programs. The grants cannot be used for debt reduction, capital campaigns, annual fundraisers, or other restricted activities.