Nonprofit Innovation Fund
The Nonprofit Innovation Fund is a $20 million investment to assist nonprofit organizations meet the increased demand for resources following the COVID-19 pandemic. It provides grants to help nonprofits that have struggled to invest in much-needed infrastructure. Iowa's nonprofits have experienced financial hardships, driven by a significant decline in financial contributions, while the number of individuals seeking their services has increased.
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.
Program funds are available through the American Rescue Plan. The Subrecipient, as a non-federal entity carrying out a federal award on behalf of the State of Iowa, shall be considered a subrecipient as defined in the Uniform Guidance (2 CFR Part 200) and is subject to the policy requirements placed upon subrecipients by regulations including, but not limited to, the Uniform Guidance and 31 CFR 35.
All non-federal entities that spend more than $750,000 in federal awards during the entity's fiscal year, including ARPA funds, must have a single or program-specific audit conducted for that year compliant with 2 CFR 200 Subpart F. This audit must cover the compliance of the entity with Federal statutes, regulations, and the terms and conditions of the federal award, as well as the fair presentation of the entity’s financial statements, pursuant to the Uniform Guidance (2 CFR part 200).
Retain all records relating to project cost, including supporting documents through December 31, 2032, and to make such records and documents available to Iowa Economic Development Agency personnel upon request for audit.
Who Qualifies?
Nonprofit organizations designated as a 501c3 are eligible to apply. Qualifying nonprofits must demonstrate:
- The ability to obligate project funds by December 31, 2024
- A financial hardship that makes the project infeasible without the program funds
- A commitment of matching funds to the projects - minimum match of 10% is required (applicants must document all other project funding sources, outside of requested program funds, are committed)
How Do I Apply?
The application will be made available via iowagrants.gov starting June 27, 2022.
IEDA will accept applications through July 15, 2022. The application will close after that date and IEDA will review submitted applications.
We anticipate receiving a large number of applications and that requests will well exceed the amount of available funding. However, if funding is available after review of applications submitted by July 15, 2022, IEDA will open another application round.
Applicants may only receive one award through this program.