Iowa investing $20 million in Nonprofit Innovation Fund

Governor Kim Reynolds announced a $20 million investment to help nonprofit organizations in Iowa through a competitive grant opportunity using federal American Rescue Plan Act (ARPA) funds.

Nonprofits looking to make investments in vertical infrastructure and “shovel ready projects”  to cope with increased demand for resources can submit applications through December 31, according to a press release.

“Iowa nonprofits provide critical support to Iowans most in need,” said Ms. Reynolds in a statement. “While these organizations work around the clock to meet today’s needs, the Nonprofit Innovation Fund will provide innovative and transformational investments to help prepare Iowans for tomorrow.” 

Organizations must be able to obligate project funds by the end of 2024 and expended by June 2026, demonstrate a financial hardship that makes the project infeasible without program funds and a commitment to matching a minimum of 10% of funds to the project, among other criteria.

The program provides a maximum award of $3 million, with a minimum request of $500,000. Eligible expenses for the infrastructure projects include construction costs, acquisition, site development, and engineering and architectural services.

Ms. Reynolds announced a $25 million Child Care Incentive Grant Program using federal ARPA funds at DEV2022, the Iowa Utility Association’s annual economic development conference, on May 18.