Illinois State Treasurer Michael Frerichs today reminded small non-profit organizations that provide food and housing assistance to apply for funding through the Charitable Trust Stabilization Program.
“Applications are rolling in, but we want to make sure all eligible non-profits have a chance to apply for this grant funding,” Frerichs said. “We want to do our part to help provide the resources for these non-profits to do what they do best, help people, especially during these tough economic times.”
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, $375,000 is available to be split between 30 non-profits. The maximum award amount is $12,500 for each organization. More than $2.2 million has been awarded to 100 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.
The application period began July 1 and ends on September 30, 2020. 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, Frerichs is the state’s Chief Investment and Banking Officer and actively manages approximately $30 billion. The portfolio includes $13 billion in state funds, $11 billion in college savings plans and $6 billion on behalf of local and state governments. The investment approach is cautious to ensure the preservation of capital and returns $42 to the state for every $1 spent in operations. Frerichs’ office protects consumers by safeguarding more than $3 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.