Iowa nonprofits can receive up to $25,000 in assistance through Volunteer Iowa and Iowa Economic Development Authority’s Nonprofit Recovery Fund.
The fund, launched Monday as part of IEDA’s Iowa Small Business Relief Grant Program, has $10 million available to help nonprofits affected financially by coronavirus.
The size of the grants will depend on the nonprofit’s “income, expenses, outstanding obligations and other state and federal assistance received.”
The fund will be for any 501(c)(3), 501(c)(6) or 501(c)19 based in Iowa.
“It is important to lift up these organizations that are serving vulnerable populations across the state,” said Debi Durham, IEDA and Iowa Finance Authority director, in a statement.
“Iowa’s nonprofits provide so much value to our communities and the economy.”
Nonprofits must have an annual operating budget of at least $25,000 and a staff of 25 or fewer full-time equivalent employees.
They also must have a documented, involuntary drop in revenue or rise in expenses since March 1.
The application is available at iowabusinessrecovery.com until 1 p.m. Aug. 15 or whenever the $10 million in funds run out.
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