Oyster Bay Forward
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ASSISTANCE AVAILABLE: Oyster Bay Forward is a small business and nonprofit grant program that offers a one-time $5,000 grant to eligible organizations with 0 (sole proprietors) to 50 full-time equivalent W-2 employees and between $35,000 and $5 million in annual revenue in fiscal year 2021. Applicants needing assistance can email firstname.lastname@example.org and someone will contact you as soon as possible. Additionally, you may leave a voicemail at 516-201-0113.
ELIGIBILITY CRITERIA: An Applicant Must:
- Be a small business owner or nonprofit representative
- Applicant must be the principal i.e., majority owner or authorized nonprofit representative.
- Be a for-profit business or 501(c)(3) or 501(c)(19) nonprofit organization.
- At least 60% of 2019 nonprofit expenses must have been programmatic.
- Have been in operation in Town of Oyster Bay prior to January 1, 2021.
- Be in operation at the time of application (businesses that have ceased operations are ineligible).
- Have fewer than 50 full-time equivalent (FTE) W-2 employees.
- Have between $50,000 and $5 million in annual revenue in fiscal year 2021.
- Certify and demonstrate they experienced economic or financial hardship due to COVID-19.
- Not be in default or arrears on past or current federal and state financing or funding programs.
- Not be in conflict of interest with Town of Oyster Bay, the local municipality, or the third-party administrator (NDC).
REQUIRED DOCUMENTS: The following documents will be required to submit a complete application. Incomplete applications may not be considered.
- 2019 federal tax return (all pages and schedules if the applicant entity was operating in 2019)
- 2020 federal tax return (all pages and schedules if the applicant entity was operating in 2020)
- 2021 federal tax return (all pages and schedules- mandatory for all applicants)
- 2022 year-to-date profit and loss statement (mandatory for all applicants)
- Employer withholding tax return (IRS 941 or NYS 45 quarter ending 9/31/2022 if applicable)
- Current business bank statement
- Organizational documents (articles of incorporation, certificate of organization…)
- Valid government-issued photo ID for every owner with 20% or more interest in the business
- IRS determination letter and board resolution signed by the board chair authorizing the executive director to apply for the program if the applicant is a 501(c)3 or 501(c)19 nonprofit organization
ELIGIBLE USE OF PROCEEDS: Eligible uses of grant proceeds include working capital expenses that mitigate the economic and financial hardships caused by COVID-19 such as the purchase of inventory/supplies, rent, utilities, property taxes, lease or purchase of equipment, operating and emergency maintenance, etc.
DUPLICATION OF BENEFITS: Applicants who have received funding from previous COVID-relief programs are eligible to apply for funding through the Town of Oyster Bay. If other funds were already received by the applicant entity, they will need to certify to not use Town of Oyster Bay Grant Program proceeds toward the same expenses covered by previous grant/loan proceeds from county or federal sources – supporting documentation is not required to validate.
HOW TO APPLY: Applicants can make full application at www.TOBForward.com. Incomplete applications may not be reviewed.
FUNDING IS LIMITED