Illinois State Treasurer’s Office News Releases

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Treasurer Frerichs Bill to Help Nonprofits Increase Investment Opportunities Is Now Law

SPRINGFIELD – Illinois State Treasurer Michael Frerichs’ measure to expand investment opportunities for non-profit organizations across the state is now law after Gov. JB Pritzker recently signed the bill. Senate Bill 2968 creates the Non-Profit Investment Pool, a safe and efficient investment option allowing eligible nonprofits to make the most of available funds while reducing administrative burdens. The law is intended to help nonprofits strengthen their financial stability and maximize resources that support communities throughout the state. “We worked with lawmakers and the Governor’s Office to pass this law, and…

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Treasurer Frerichs speaks with a woman in the kitchen of a food pantry and service agency

Treasurer Michael Frerichs Announces Nearly $200,000 in Grants for Small Nonprofits in Illinois

Key Points: Illinois State Treasurer Michael Frerichs today announced $195,000 in Charitable Trust grants to 10 nonprofit organizations across the state that provide food and housing to people in need. “Through these grants, we are lending a hand to people who are struggling to meet basic needs like food and shelter,” Treasurer Frerichs said at a news conference in Chicago. “We recognize that people are faced with higher housing costs and grocery prices while the federal government is abandoning its responsibilities. We are proud to team up with these nonprofit…

Read MoreTreasurer Michael Frerichs Announces Nearly $200,000 in Grants for Small Nonprofits in Illinois
Shermann Dilla Thomas speaks at a microphone as Treasurer Frerichs and another man watch

Illinois Treasurer Michael Frerichs Unveils New Investment Program to Build Affordable Housing

Illinois Treasurer Michael Frerichs today unveiled a new community investment program designed to build affordable housing, help nonprofits, and generate returns for the state. Frerichs invested $10 million with IFF , a Chicago-based Community Development Financial Institution that promotes economic development by providing financing and real estate consulting across the Midwest to nonprofits and people underserved by traditional financial institutions, particularly in low-income communities. On Tuesday, Frerichs highlighted one of the first completed projects, the new South Side headquarters of the Chicago Mahogany Foundation , award-winning Chicago historian Shermann “Dilla”…

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Illinois Among Founding Partners of New Consortium to Expand Participation in 529 Education Savings Plans

State Treasurer Michael Frerichs Proposed the Idea While Serving as President of the National Association of State Treasurers Chicago, IL — Today, these founding institutions announce the formation of the National Consortium on Education Savings Research (529 Consortium) , a multi-institution research partnership designed to increase understanding of and participation in education savings plans, especially among underserved and underrepresented families. The 529 Consortium brings together leading researchers, state treasurers and other state sponsors, and program administrators to build an integrated data infrastructure and conduct policy-relevant research on education savings initiatives.…

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Illinois Treasurer Michael Frerichs Announces New Grants to Address Hunger After Federal Cuts

Illinois State Treasurer Michael Frerichs today announced a new grant program to help volunteer groups battling hunger and food insecurity in the wake of federal government cuts to critical food programs. Charitable Trust Hunger Relief Grants provide up to $5,000 to volunteer-driven food pantries, soup kitchens, and similar nonprofit organizations with no full-time employees. Frerichs launched the grant program after the Trump administration cut funding for the Supplemental Nutritional Assistance Program (SNAP) and a program that allowed Illinois farmers to sell their fresh food to Meals on Wheels and food…

Read MoreIllinois Treasurer Michael Frerichs Announces New Grants to Address Hunger After Federal Cuts