The main owner of Lanai and a nonprofit foundation aim to improve the island’s native ecosystem by giving matching grant money to worthy projects over five years, starting with $400,000 this year.

Pulama Lana‘i and the National Fish and Wildlife Foundation announced the initiative Tuesday.

Goals of the program are focused on benefiting coral reefs, sensitive coastal cultural sites and native plants and animals including the endangered Hawaiian petrel. Among problems to be addressed are erosion, flooding and invasive plants and animals that include what is estimated to be a population of more than 20,000 axis deer.

The project area is roughly a quarter of the island, or its northeast quadrant covering about 20,000 acres from the coast to inland areas up over Lanai Hale ridge.

The foundation said Lanai presents an unparalleled opportunity for such an endeavor because the island has one dominant land manager, Pulama, a company formed by billionaire Larry Ellison after he bought nearly 98% of the island in 2012 for a reported $300 million.

Pulama partnered with the Washington, D.C.-based foundation on the grant program dubbed Kuahiwi a Kai, meaning from the mountains to the ocean.

Both entities are providing grant funds to applicants they select jointly.

“We are so excited to bring conservation efforts to Lanai, on a scale that has not occurred since George Munro first stepped foot on this island,” Kurt Matsumoto, Pulama’s chief operating officer, said in a statement.

Munro was a ranch manager on Lanai in the early 1900s who stopped overgrazing and planted several thousand pine trees to collect moisture that helps recharge the island’s relatively small groundwater supply.

Jeff Trandahl, executive director and CEO of the foundation, added in a statement, “We could not be more pleased with our partnership with Pulama Lana‘i, and I know their enthusiasm, expertise and passion will enable us to achieve great success through this outstanding conservation program.”

The National Fish and Wildlife Foundation said grant awards typically range from $15,000 to $150,000 but can be bigger.

Applicants can include individuals, businesses, nonprofits, government agencies and other organizations.

One condition for awards is that selected projects must have an equal financial contribution of cash or in-kind benefits from another source, including the federal government.

Preliminary proposals are due Oct. 18. The foundation expects to ask select applicants in November for more detailed proposals and make award decisions in March.

More details about the grant program are available at nfwf.org online.