State Charitable Trust Supports Central Illinois Non-Profits with Grant Funding
In Peoria, Illinois, a recent announcement from State Treasurer Michael Frerichs has brought good news for not-for-profit organizations in East Peoria and Galesburg. These groups are set to receive a significant financial boost from a state fund specifically aimed at supporting smaller non-profits.
The announcement detailed that a total of $182,241 in grants will be distributed to 10 not-for-profit organizations, including notable recipients such as Junior Achievement of Central Illinois, located in East Peoria, and VNA Community Services in Galesburg. Each of these organizations is slated to receive $20,000 from the Charitable Trust Stabilization Fund. This fund is particularly geared towards aiding small non-profits with annual budgets not exceeding $1 million. Interestingly, the fund is financed through filing fees collected from non-profits when they register as corporations in Illinois, ensuring that personal or property tax dollars are not utilized for these grants.
State Treasurer Frerichs emphasized the vital role played by small non-profit organizations in providing essential services to individuals and communities, especially in aiding those in need. He expressed pride in his office’s ability to support the admirable efforts of these non-profits through the Charitable Trust program.
The Charitable Trust Stabilization Fund, derived from the Charitable Trust, is instrumental in helping non-profits achieve their mission of offering critical services such as food, housing, and assistance in workforce and economic development.
In the current grant cycle, the focus was on two specific categories: non-profits with food programs and those involved in workforce and economic development initiatives. The upcoming grant cycle, which runs from January 1 to March 31, will shift its focus to award grants in the areas of food and housing assistance. An independent 11-member committee, responsible for overseeing the fund’s management and guidelines, selects the recipients, with each organization eligible for a maximum grant of $20,000.
The selection process gives special consideration to grant applicants operating in areas plagued by pervasive poverty, unemployment, and economic distress. Additionally, organizations that have previously received grants can reapply, provided their last grant term concluded at least one calendar year ago.
Since its inception in 2017, the Charitable Trust Stabilization Fund program has made a significant impact, awarding 211 grants totaling nearly $4.3 million. These grants have supported 183 non-profit organizations, directly benefiting tens of thousands of individuals across various communities.