Volunteer Iowa and the Iowa Economic Development Authority (IEDA) recently announced 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.
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
- 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. The Nonprofit Recovery Fund will remain open and continue to accept applications until funds are exhausted.
Eligibility criteria has also been expanded beyond the priority service populations, so all nonprofit organizations experiencing COVID related hardships are encouraged to begin the application process to see if they qualify.
Questions regarding the Iowa Nonprofit Recovery Fund can be addressed by calling 515.348.8897 (toll free: 855.854.2440).
*The Community Foundations of Southwest Iowa encourages all Iowa nonprofits to apply, even if they do not meet the initial eligibility requirements. There is potential for the current funding to extend beyond this initial eligibility. If a nonprofit does not begin an initial application they will not be notified/invited to complete a full application, if eligibility is expanded in the future.