By Todd Cohen
WINSTON-SALEM, N.C. — The Z. Smith Reynolds Foundation in Winston-Salem will drop its fall grants cycle in 2004 and make grants only in the spring, then resuming its fall grants cycle in 2005.
The foundation’s board opted to make that move because it wanted to give itself and its staff time to study the issues it has set as priorities, along with social and population changes taking place in North Carolina, says Tom Ross, executive director.
The foundation, which has roughly $400 million in assets, typically makes grants each spring and fall based on applications submitted each Feb. 1 and Aug. 1.
Nonprofits in the state that otherwise might have submitted applications next Aug. 1 can submit them this Feb. 1 instead, or wait until February 2005, Ross says.
While the foundation will not accept application in August, he says, it still will meet the federal requirement that it make annual grants equal to 5 percent of its assets.
To do that, the foundation may make more grants in the spring, or possibly make some in the fall based on applications it receives this February.
Dropping the fall application cycle will give the board and staff time to “take a step back and do some intensive learning, both about areas in which we are working, and about the state, which is in a real period of transition,” he says.
“Clearly, North Carolina’s economy and demographics are changing dramatically,” he says, “and we want to think about what that means for us and the state.”