The Foundation’s SII application is the starting point for a rigorous due diligence process which will be pursued as expeditiously as possible. Applications may be submitted at any time.
Your company may incur legal fees during this process, for which the Richard King Mellon Foundation cannot provide reimbursement. Also, your leadership team and other staff will need to dedicate time to meeting with Foundation staff, providing materials and answering questions.
The first step in the process is for you to submit an application through the SII application portal on our website. In the application, you will provide information about your company and how your company contributes to broader social good. We will also ask for information about where that proposed charitable benefit will occur, along with further detail about your business plan and the charitable benefit that your organization seeks to create with funding.
The Foundation’s staff and legal counsel will use this information to conduct an initial assessment of whether a proposed PRI aligns with our 2021-2030 Strategic Plan and meets the IRS charitable purpose requirements. If we determine that your initial proposal is not a good candidate for a PRI, we will inform you and decline your application.
If we determine that your initial proposal is a good candidate for further consideration, we will reach out to schedule time to meet and initiate our diligence process. During this meeting, our staff will address questions around impact, executive leadership and management, business models, financial projections, operations and strategy, among other areas of importance. If necessary, staff may conduct site visits or require further diligence inquiries to determine whether an investment is appropriate.