Frequently Asked Questions

Below are answers to many of the most frequently asked questions about the CalMoneySmart grant program. If you have further questions, please contact us at CalMoneySmart@dbo.ca.gov.

Who can apply for a CalMoneySmart grant?

Any nonprofit organization may apply for a CalMoneySmart grant if they are:

  1. Exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code and organized and operated exclusively for one or more of the purposes described in Section 501(c)(3) of the Internal Revenue Code.
  2. Have no part of their net earnings inure to the benefit of a private shareholder or individual.
Is there a minimum or maximum grant amount I can apply for?

There are no minimum grant amounts. The maximum grant that can be requested is $100,000, which should include administrative costs to operate your proposed project.

When will CalMoneySmart grants be awarded?

Grant funds will be distributed on or about September 21, 2020. The Commissioner’s decisions regarding grant amounts and approved administrative costs are final and not subject to appeal.

How often are CalMoneySmart grants awarded?

CalMoneySmart will offer a new round of grants each fiscal year, starting July 1. The program is funded for four years.

What are considered administrative costs?

Administrative costs may include, but are not limited to, costs of workforce overhead, human resources, accounting, finance, business and facility operations, and information technology.

Administrative costs budgeted by each grantee should be in proportion to the organization’s other program costs.

Does each grantee have to report how grant monies are used?

Grantees are required to submit a report documenting:

  1. The specific uses for which grant funds were allocated,
  2. The number of individuals aided with the funds,
  3. Quantitative results detailing the impact of grant funding, and
  4. Any other information requested by the Commissioner.

The reports must be submitted in a form and by a date to be specified by the Commissioner. Additionally, grantees must acknowledge and agree that the DBO and the California State Auditor may conduct or require periodic audits to ensure grantees are using funds consistent with the requirements and terms of the program and their grant proposal.

Where do I submit my CalMoneySmart application?

Email you completed CalMoneySmart Application to CalMoneySmart@dbo.ca.gov.

If I have more questions, who can I contact?

Please contact CalMoneySmart@dbo.ca.gov with additional questions or comments.

Approved by Klee 4/20

Last updated: May 19, 2020 @ 8:03 am