Timeline
| Application and Guidelines Posted March 16, 2011 |
Application and guidelines posted on the Wachovia Wells Fargo NEXT Awards Web site. |
| Application Period March 16 – April 29, 2011 |
Applications and supporting documents can be uploaded at the Wachovia Wells Fargo NEXT Awards Web site. All applications must be submitted online. Hard copy applications will not be accepted. The cutoff for submitting an application for the 2011 Wachovia Wells Fargo NEXT Awards is 5:00 p.m. Eastern Daylight Time on April 29, 2011. Applications will not be accepted after this deadline. |
| Evaluation Period May 2 – September 7, 2011 |
Applicants are screened for eligibility based on the 2011 eligibility requirements. Eligible Applicants are evaluated against the selection criteria for the 2011 Wachovia Wells Fargo NEXT Awards. These criteria will be used to identify applicants that demonstrate the most extraordinary promise, a strong financial track record and an exciting vision for the potential use of a major investment made by the Wachovia Wells Fargo NEXT Awards. The applicant pool will be narrowed to a group of Semi-Finalists. All applicants will be notified in June via e-mail as to whether they are Semi-Finalists. The applicant pool will be further narrowed to a group of four Finalists. Organizations selected as Finalists will be notified by the end of July 2011. Please note that Staff of Opportunity Finance Network will request additional information from Semi-Finalist and Finalists. Detailed instructions for the next phase of the selection process will be provided at that time. |
| Selection Committee Meeting September 7, 2011 |
Finalists meet with the Wachovia Wells Fargo NEXT Awards Selection Committee in Chicago on Wednesday, September 7, 2011. The Selection Committee includes senior executives from the Wachovia Wells Fargo Foundation and MacArthur Foundation, as well as highly regarded CDFI leaders and experts in banking, social policy, philanthropy, economics, organizational development, and technology. View the Selection Committee. The Selection Committee will determine the awardees. |
| Notification Prior to the Celebration Event |
$5.5 and $2.75 million recipients of the 2011 Wachovia Wells Fargo NEXT Awards will be notified prior to the Celebration Event at the annual Opportunity Finance Network conference in Minneapolis, Minnesota. The recipients will be issued a term sheet prior to the public announcement of the award. The $25,000 recipients of the 2011 Wachovia Wells Fargo NEXT Awards will not be notified prior to the Celebration Event. |
| Celebration Event November 15, 2011 |
A celebration of CDFIs and the recipients of the 2011 Wachovia Wells Fargo NEXT Awards will be held at an evening Celebration Event at the annual Opportunity Finance Network conference in Minneapolis, Minnesota. |
IMPORTANT NOTE: The $5.5 and $2.75 million recipients of the 2011 Wachovia Wells Fargo NEXT Awards will be notified prior to the Celebration Event.