Singapore’s First Recyclable Grant – Propelling Promising Charities
The Maybank Momentum Grant will help propel promising charities forward to transform their operations during difficult times and to build the right momentum to thrive.
- Charities and nonprofits in the social and welfare sector with local-based operations
- Maximum of $3 million in annual TOE (Total Operating Expenditure) – raised from $2 million in previous grant calls
- Less than 1 year of cash reserves
- Have plans to transform the organisation to scale impact
A New Reality
Uncertain and Challenging Times
The Maybank Momentum Grant seeks to propel promising charities forward by investing in the transformation of their operations so that they can run sustainably, and to build the right momentum to thrive.
Post-pandemic recovery has been challenging for all businesses, and charities are struck especially hard.
Charities, like businesses, require capital to invest in organisational growth. However, funding in the sector is primarily restricted towards programmes rather than manpower.
In such environments, smaller charities struggle the most as they typically operate with lean in-house capabilities and small reserves. Their leaders face an uphill battle in the post-pandemic business environment of employee burnout, and donor and volunteer fatigue.
What is the Maybank Momentum Grant
Maybank Momentum Grant will help small charities (including non-IPC charities) tide through the medium-term by providing a interest-free recyclable grant equivalent to 4 months of operating expenditure capped at $150,000.
By recycling the grant, it enables TMT to channel support to more charities in need, multiplying the impact of the fund.
Besides capital support, it will also provide initial capability building for charities to kickstart their transformation efforts.
We will do this through strategy masterclasses and 1-1 consultation sessions to help charities serve better, and build stronger sustainability.
MAYBANK COMMUNITY PACKAGE
Grantees will be offered a set of comprehensive SME banking solutions that consist of a current account with preferential time-deposit interest rate and a suite of digital solutions from the SME Start Digital programme that Maybank will subsidise.
Overseeing the grant approval process is our distinguished grant committee:
Mr Eugene Seow
Board Member, The Majurity Trust
Dr John Lee
Country CEO and CEO Maybank Singapore
Ms Melissa Kwee
Former CEO, National Volunteer and Philanthropy Centre
Hear From Our Grantee Partners
A non-profit organisation that empowers disadvantaged communities through humanitarian engineering.
A substance addiction recovery centre for marginalised communities that find it hard to seek help out of shame or fear of discrimination.
A non-profit organization founded with the desire to see every youth given the opportunity to live out their potential.
Grant call will run from 1 February - 31 March 2023
Submit a grant enquiry below. Our team will follow up with you to determine your organisation’s eligibility for the Maybank Momentum Grant.
Invited applicants are required to submit the Maybank Momentum Grant (MMG) Application Form to provide key information on your organisation and forward plans. Our team will contact you with further clarifications to your application where required.
The grant panel made up of representatives from Maybank, TMT and experts in the charity sector will evaluate the grant proposals.
If approved, applicants will receive up to 4 months of operating expenditure or capped at $150,000, whichever is lower.
Frequently Asked Questions
1 Who is eligible?
Charities in the social and welfare sector with a maximum of $3 million in annual Total Operating Expenditure (TOE) and with less than 1 year of cash reserves are eligible to apply.
2 What is a recyclable grant?
This Recyclable Grant is designed as a pay-it-forward model where grantee partners are highly encouraged to return the grant back to The Majurity Trust for the purpose of future grant giving to other charities.
3 What can the grant be used for?
The grant use is flexible and depends on the charities’ organisational and programme needs. However, it must align with and support the charities’ plan to transform and scale impact. The grant cannot be used to repay existing loans or given out in cash or vouchers to beneficiaries.