Small nonprofits with food, housing, workforce or economic programs can apply for grant by Sept. 30
Small nonprofit organizations in Illinois that assist individuals with food, housing, workforce, and economic development are eligible for a grant of up to $20,000 each, Illinois State Treasurer Michael Frerichs said in a July 13 news release.
The Charitable Trust Stabilization Fund will accept applications through Sept. 30 to assist organizations with annual budgets of $1 million or less. A total of $200,000 is available in this grant cycle. Visit ilcharitabletrust.com to complete an application online or contact the treasurer's office at (217) 836-4590.
"Nonprofits are critically important to our local communities," Frerichs said. "The Charitable Trust program provides small nonprofits a great opportunity to feed, house and teach job skills to those in need."
Awardees are selected by an 11-member committee, which oversees the management and guidelines of the fund. Since the program was established in 2017, more than $3.3 million has been awarded to 163 nonprofits.
Previous grant recipients are eligible to apply if the term of their grant has been complete for at least one calendar year.
Grant awards comes from filing fees nonprofits pay when incorporating in the state of Illinois, not personal or property tax dollars.
As Illinois State Treasurer, Frerichs is the state's Chief Investment and Banking Officer and actively manages approximately $38 billion. The portfolio includes $17 billion in state funds, $15 billion in retirement and college savings plans and $6 billion on behalf of local and state governments. The investment approach is cautious to ensure the preservation of capital. Frerichs' office protects consumers by safeguarding more than $3.5 billion in unclaimed property, encouraging savings plans for college or trade school, increasing financial education among all ages, assisting people with disabilities save without losing government benefits, and removing barriers to a secure retirement. The Treasurer's Office predates Illinois incorporation in 1818. Voters in 1848 chose to make it an elected office.