NYC Community Trust provides $44 million of loans, grants for city nonprofits

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BY GRANT LANCASTER

The NYC COVID-19 Response & Impact Fund distributed $44 million worth of grants and loans to city nonprofits focused on social services, arts and culture, they announced Thursday.

These grants and interest-free loans are going to 276 small and mid-sized nonprofits across the five boroughs to help them support their missions and keep the doors open. The grants range from $8,000-$250,000 and the loans range from $100,000-$3 million.

The fund, which was launched March 20 and is operated by the New York Community Trust, has raised more than $95 million from 500 donors with the intention to reward more grants and loans throughout the pandemic.

“Nonprofits have stepped forward to serve, while New Yorkers across the city are now rallying to back them up in the face of this unprecedented crisis,” said Lorie Slutsky, President of The New York Community Trust.

The money is split between the two types of organizations, with $26,180,000 going to human services organizations and $17,909,530 to arts and cultural organizations. The fund prioritized nonprofits providing direct care for essential healthcare, housing and food insecurity in the human services sector and nonprofits that provide employment and creative enrichment in the arts and culture sector.

Those interested in donating or applying for a loan or grant can find more information on the Trust’s website.

This story first appeared on amNY.com

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