Frequently Asked Questions
Who does the Foundation fund?
The Foundation makes grants only to corporate organizations that are exempt under section 501(c)(3) of the Internal Revenue Code. The Foundation will not make grants or loans to individuals, for-profit organizations, or supporting organizations. See the Grant Guidelines section on this site for specific information.
How does one apply for a grant from the Foundation?
First, read the grant guidelines and then submit a letter of inquiry. After an analysis on the part of the Foundation staff, the letter of inquiry will be accepted or declined. If the inquiry is accepted, a full proposal will be requested. Application forms are supplied to an organization after a letter of inquiry has been accepted by the Foundation. The Foundation only accepts online inquiries and applications except under special circumstances.
How does one apply for a grant from the Foundation online?
First, read the grant guidelines. An online letter of inquiry is submitted over the Internet. After an analysis on the part of the Foundation staff, the letter of inquiry will be accepted or declined. If the inquiry is accepted, a full online proposal will be requested. A link to the grant application form is supplied to an organization after a letter of inquiry has been accepted by the Foundation.
Does the Foundation have specific deadlines for letters of inquiry?
The Foundation does not have deadlines governing the submission of letters of inquiry. Letters of inquiry will be accepted throughout the year and reviewed as quickly as possible- usually within 30 days.
Will a Foundation representative meet with me to go over my letter of inquiry?
Perhaps, however, the grant guidelines are designed to provide enough information to allow an entity to complete a letter of inquiry, a grant application form, or a grant evaluation. Therefore, pre-application meetings will be discouraged. The grant guidelines state what the Foundation funds and how a letter of inquiry should be presented.
What is an “audit “and what is a “review“?
An audit is a very thorough inspection of a nonprofit organizations financial records and operating procedures by a Certified Public Accountant. The auditor renders an opinion regarding the organizations financial statements and accounting procedures. A review is a similar process that is less stringent and less costly than a full audit. An audit typically involves selective testing of individual transactions and verification of the financial statements by confirmations or inquiries to third parties (such as confirmation of accounts receivable or bank balances). A review, on the other hand, consists primarily of inquiries and analytical procedures.
Is The Cailloux Foundation the same as the Kathleen C. Cailloux Family Trust?
The Floyd A. & Kathleen C. Cailloux Foundation is no longer associated with The Kathleen C. Cailloux Family Trust. You are currently visiting the website for the Floyd A. & Kathleen C. Cailloux Foundation.