Application Period Open Now Through March 31st
SPRINGFIELD — Small non-profits that provide food, housing assistance and workforce and economic development can apply for funding through the Charitable Trust Stabilization Program, Illinois State Treasurer Michael Frerichs said today.
“The new year brings a fresh start and an opportunity for small nonprofits to apply for grants to help their organizations serve the public,” Frerichs said. “We have $200,000 available to assist organizations with feeding, housing and employing individuals in need.” 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 the Spring 2022 cycle, up to $200,000 is available to be split between 10 non-profits. The maximum award amount is $20,000 for each organization. Close to $3.3 million has been awarded to 163 non-profit organizations through the Charitable Trust Stabilization Fund since the program was established in 2017. Awardees are selected by an 11-member committee, 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, 2022. Visit ilcharitabletrust.com to complete an application online or contact the treasurer’s office at (217) 836-4590.
About the Illinois Treasurer As Illinois State Treasurer, Michael Frerichs is the state’s Chief Investment and Banking Officer and actively manages approximately $52 billion. The portfolio includes $27 billion in state funds, $16 billion in retirement and college savings plans and $9 billion on behalf of local and state
governments. 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.