August 14, 2020 | News
CFBC ANNOUNCES COMMUNITY MATCH GRANT PROGRAM
We recently surveyed nonprofit organizations who serve our local communities. 92% of nonprofits report lost revenue due to COVID-19. 65% now have new, permanent costs due to the pandemic, such as cleaning supplies and technology costs. With revenue down and costs up, 60% are experiencing an increase in demand for services due to COVID, including mental health services, child abuse cases, food programs, and outdoor activities. The greatest reported need is financial assistance.
When looking at how the foundation should focus grant making for the rest of the 2020 year, the CFBC Board of Directors and Staff studied the survey results, connected with many stakeholders, and brainstormed on the best way to make the greatest impact in our communities. As a result, CFBC is proud to launch a community-wide grant program to meet the broad, increased needs in Boone County caused by COVID-19, as a continuation of rapid response grants given earlier this year to address local needs. The initiative includes two components: $150,000 in unrestricted, immediate grants to Boone County school corporations, and a Community Match Grant Program for Boone County nonprofit organizations.
The goal of the Community Match Grant Program is to help meet the needs of a wide range of Boone County nonprofits, who have experienced lost revenue and increased expenses due to the COVID-19 pandemic. Out of the 92% of nonprofits who have reported lost revenue due to COVID, the most common reasons for the loss are canceled events, decreased income from lower donations and the canceled events), and new unanticipated costs like PPE. “We are encouraged that 88% of our nonprofits are already coming up with ways to recover lost funding”, says Jodi Gietl, CFBC President & CEO. “CFBC is honored to build upon their motivation and enthusiasm by coming alongside them with this match, to help increase their donations.”
Eligible Boone County 501(c)(3) organizations are able to apply for up to $15,000 in matching dollars. The application deadline is August 31, 2020. Applicants will find out September 21, 2020 the dollar amount they can receive in matching funds, based on the needs and funds available, with the official fundraising timeline being October 1- December 31, 2020. Click here for a full timeline and the link to apply.
This is the perfect time for community members to support the nonprofits who work so intently to keep the residents in all of our communities safe and healthy. Every dollar donated to participating nonprofits will be matched, up to the maximum amount awarded.
To date, the Community Foundation of Boone County has granted over $220,000 to Boone County nonprofit organizations and schools working to support residents, families, and communities impacted by the pandemic. CFBC is currently in a matching gift campaign with Lilly Endowment, Inc., which will add $2 million to our permanent funds – which translates to more grants awarded out to the community every year. We have $110,000 left to raise by September 2021. Gifts made to our Boone County Community Impact Fund are tripled through this matching opportunity. Gifts of $100 become $300, $1,000 become $3,000, $5,000 become $15,000. To join this campaign, give online at www.giveboonecounty.org or contact us today!
ABOUT THE COMMUNITY FOUNDATION OF BOONE COUNTY
Since 1991, the Community Foundation of Boone County has granted over $25 million from its various funds to nonprofit organizations and programs working to solve critical challenges in Boone County. Through the generosity of donors, the Foundation currently holds over $25 million in assets and awards an average of $1 million back into the local community each year. In the past 29 years, we have worked with donors to create permanent funds for charitable giving. The establishment and growth of permanent endowment funds will strengthen Boone County for generations to come.