Funding Available for Non-Profits with Food, Housing, Workforce and Economic Development Programs
SPRINGFIELD — Illinois State Treasurer Michael Frerichs today reminded small non-profits that the deadline to apply for funding through the Charitable Trust Stabilization Program is March 31.
“We know that this pandemic has inflicted financial harm across our country, including many non-profits,” Frerichs said. “This is an opportunity for us to help these small non-profits serving in their communities when they need it most.” The Charitable Trust Stabilization Fund assists small non-profits with annual budgets of $1 million or less. Money comes from filing fees non-profits pay when incorporating in the state of Illinois, not personal or property tax dollars.
For this grant cycle, up to $250,000 is available to be split between 10 non-profits that provide food, housing, workforce and economic development programs. The maximum award amount is $25,000 for each organization. Close to $3 million has been awarded to 134 non-profit organizations through the Charitable Trust Stabilization Fund since the program was established in 2017. Awardees are selected by an 11-member board, which oversees the management and guidelines of the fund.
Previous grant recipients are eligible to apply if the term of their grant has been complete for at least one calendar year.
Applications will be accepted through March 31 for this first cycle. The second cycle runs from July 1 – September 30, 2021. Visit ilcharitabletrust.com to complete an application online or contact the treasurer’s office at (217) 836-4590.