Volunteer Iowa and the Iowa Economic Development Authority (IEDA) announced today the launch of the Iowa Nonprofit Recovery Fund, an extension of the Iowa Small Business Relief Grant Program.
The program will provide short-term relief to nonprofit organizations that have seen reduced revenue and/or increased costs as a result of the COVID-19 pandemic. Eligible nonprofits may be awarded a grant of up to $25,000, based on income, expenses, outstanding obligations and other state and federal assistance received. The program has $10 million available, which was allocated through federal CARES Act funds.
“It is important to lift up these organizations that are serving vulnerable populations across the state,” said IEDA and Iowa Finance Authority Executive Director Debi Durham. “Iowa’s nonprofits provide so much value to our communities and the economy. This grant program will provide relief for those that have been at a disadvantage during this difficult time.”
Initially, eligible nonprofits must be a 501 (c)(3), 501 (c)(6) or 501 (c)(19), be based in Iowa and have:
- Experienced a documented, involuntary loss of revenue and/or increase in expenses that occurred after March 1, 2020, due to the COVID-19 public health emergency
- An annual operating budget of more than $25,000
- Twenty-five or fewer full-time equivalent employees
- A primary mission to serve the program’s priority service populations
For more information on eligibility and assistance or to apply, visit iowabusinessrecovery.com.
Applications will be reviewed in the order received and awarded on a first come, first ready to process basis. Applications will be accepted until August 14 at 5:00 p.m. or until funds have been exhausted, whichever comes first.
Questions regarding the Iowa Nonprofit Recovery Fund can be addressed by calling 515.348.8897 (toll free: 855.854.2440).