Financial Assistance Now available to Eligible Nonprofits Impacted by COVID-19
Volunteer Iowa and the Iowa Economic Development Authority (IEDA) 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
- 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