Treasurer Frerichs Encourages Non-Profits to Apply for $250,000 Available Through Charitable Trust Program
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.
“We are excited to kick off the new year with up to $250,000 available to small non-profits,” Frerichs said. “We all are experiencing the impact of the pandemic and this funding will help valuable organizations continue their mission to feed, house, and employ those 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 this grant cycle, up to $250,000 is available to be split between 10 non-profits. 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.