What is the purpose of the Charitable Trust Stabilization Fund?
Charitable Trust is a grant program authorized by the IL General Assembly and led by the State Treasurer’s office intended to help support small non-for-profit organizations across Illinois.
How do I apply for a Charitable Trust Grant?
You may apply on-line at ilchartiabletrust.com. Applications will be available from February 1st-March 31st and from July 1st to September 30th.
Who qualifies for a Charitable Trust grant?
In 2017, Charitable Trust will be accepting grant applications in three focus areas: Housing Programs, Food Programs, and Workforce Development. Additionally the organization must meet the following requirements:
• The organization is a not-for-profit corporation that is exempt from federal income taxation under Section 501(c)(3) of the federal Internal Revenue Code.
• The organization is organized under the Illinois General Not for Profit Corporation Act of 1986 for the purpose of providing charitable services to the community.
• The organization is domiciled in the State of Illinois, and does it provide charitable services exclusively in the State of Illinois.
• The organization has a budget of $1 Million or less.
• The organization has the equivalent of at least one full-time paid employee.
• The organization has adopted a policy of non-discrimination on the basis of race, gender, sexual orientation, age, national origin, disability, family status, or religion.
Additionally, non-for-profits with a person, or immediate family member (including but not limited to a spouse/domestic partner, sibling or child) holding an elective office making in excess of $60,000, where any such person holds a position of paid staff, consultant, director, officer, or board member of an organization will not be eligible to apply.
How large are the grants?
Grants of up to $25,000 may be awarded.
Where does money for Charitable Trust come from?
Charitable Trust is funded by the fees collected from non-for-profits when incorporating with the State.
What is the process for securing a grant?
Applicants must apply on-line at ilcharitabletrust.com. Applications will be reviewed by staff in the State Treasurer’s Office, and then by members of the Charitable Trust Stabilization Committee, who make a final recommendation to the State Treasurer. The State Treasurer makes the final determination on the grant award. Before finalizing any grant, a site visit by staff of the State Treasurer’s office and/or a member of the Charitable Trust Stabilization Committee will be required.
Who Serves on the Charitable Trust Stabilization Committee?
The committee is made up of 6 private citizens and 5 appointees from various government agencies. The current composition is as follows:
Illinois State Treasurer Michael Frerichs, Co-Chair
Jody Adler, Designee for Illinois Attorney General Lisa Madigan, Co-Chair
Ennedy Rivera, Designee for Lieutenant Governor Evelyn Sanguinetti
Franciso Menchaca, Designee for the Illinois Department of Financial and Professional Regulations
Emilia DiMenco, Appointee
Ric Estrada, Appointee
Marcia Lipetz, Appointee
Dorri McWhorter, Appointee
Dale Morrissey, Appointee
Lisa Oakley, Appointee
What are the terms of the grants?
The term of any grant award shall be for one year, with grant funds to be expended by a grantee within one calendar year after the effective date of the Grant Agreement.
How often can an organization apply for a grant?
Grants are non-renewable. However, grantees may submit a new application for a grant award in a second consecutive calendar year. Grantees may not receive awards in more than two consecutive calendar years.