Applications for Strategic Priorities Grants due next month

The ASME Board of Governors recently approved a new resource for funding priority initiatives - the Strategic Priorities Grant Fund (SPGF). Programming units considering submitting a proposal for consideration during this fiscal quarter should note that the deadline is drawing near. Applications for the first cycle of Strategic Priorities Grants are due April 28.

The purpose of the new fund is to ensure that ASME has consistent annual new program development. SPGF funds are targeted for broad-based, cross-sector proposals aimed at program development that furthers ASME's strategic initiatives previously approved by the Board of Governors. (The SPGF program was discussed last month in Gene Feigel's "From the President" column, at www.asmenews.org/latebrk/latebrk.html.)

Projects that would be eligible for a Strategic Priorities Grant must address one of the priorities the Board of Governors has set. These areas reflect recognition of the general landscape in which ASME must operate to be an effective professional society. This year, those priorities are: young engineers, globalization, government, industry, and new revenue-producing programs.

Any programming unit of ASME may apply for a Strategic Priorities Grant. Requests to the Grant Management Committee (GMC) can be submitted at any time, but are reviewed quarterly. Applications for this first review period must be received by April 28.

Grant proposals should be submitted using the ASME SPGF form, which is available at http://files.asme.org/asmeorg/About/Connections/9426.doc. The GMC will make a recommendation to the ASME President and Executive Director for requests up to $50,000. Requests over $50,000 require approval by the ASME Board of Governors.

Based on the recommendation of the Committee on Finance & Investment (COFI) the Board of Governors may approve funding from two sources:

1) Surplus funds from the ASME fund balance, if any. Funds may or may not be available each year and are subject to ASME's financial performance.

2) A sum equal to a percentage range of the previous year's operations budget, as set by the Board of Governors. This sum is made available through program prioritization, the "sunsetting" or discontinuation of existing programs, and net revenue generated through new program activity.

To find out more about the Strategic Priorities Grant Fund, or ASME's other program funding options, visit www.asme.org/Governance/Volunteer/Funding/
Program_Funding_Options.cfm.

back to news & features