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NYC COVID-19 Response & Impact Fund Issues $44 Million In Grants And Loans To New York City-Based Social Services And Arts Nonprofits

Grants Loans and Eligibility Requirements for Arts Non-Profit Organizations in NYC

The Fund Has Raised More Than $95 Million From 500 Donors

$44 Million Already Awarded to Support 276 Critical New York City Nonprofits During COVID-19 Pandemic

 NEW YORK, April 16, 2020

NEWS PROVIDED BY
Bloomberg Philanthropies

The NYC COVID-19 Response & Impact Fund in the New York Community Trust today announced that 276 New York City-based social services and arts and cultural nonprofits affected by the coronavirus public health crisis have received support to date. These mainly small and mid-size nonprofits are receiving grants and interest-free loans totaling $44 million, with additional funding being issued to more organizations over the coming weeks. The support – which currently ranges from $8,000 to $250,000 given per grant and from $100,000 to $3 million per loan – is to help these vital community organizations across New York's five boroughs with the continuity of their daily operations and to help offset the lost revenue that has diminished their ability to pay rent, make payroll, and fulfill their public service missions.

A full list of the initial organizations receiving assistance through the NYC COVID-19 Response & Impact Fund is here.

To be eligible, an organization must meet the following criteria:

• 501(c)3 nonprofit organization

• Based in New York City

• Recipient of New York City and/or New York State government funding

• No more than $20 million of annual non-governmental revenue

• Track record of robust programming and services for New York residents

Interested organizations can get more information here.

The NYC COVID-19 Response & Impact Fund was launched on March 20 with 18 lead funders that contributed a total of $75 million. Over the past weeks, the Fund has grown to over $95 million thanks to the contributions of 500 foundations, corporations, and individuals, including over 20 donors of $1 million or more.

The NYC COVID-19 Response & Impact Fund is administered by the New York Community Trust (The Trust) with an advisory committee of leaders in public health, community development, and the arts helping guide their efforts. The Trust is overseeing the grants and Nonprofit Finance Fund (NFF) is administering the NYC COVID-19 Response & Impact Fund interest-free loans, as well as providing additional resources to organizations receiving loans through this initiative.

To date, 276 nonprofits are receiving assistance through the Fund. $26,180,000 is going to human services organizations and $17,909,530 to arts and cultural organizations, inclusive of $10.3 million in approved loans to be closed shortly.

The founding members of the NYC COVID-19 Response & Impact Fund include Bloomberg Philanthropies, Carnegie Corporation of New York, Doris Duke Charitable Foundation, Ford Foundation, Joan Ganz Cooney & Holly Peterson Fund, Kenneth C. Griffin Charitable Fund, The JPB Foundation, The Estée Lauder Companies Charitable Foundation, The Andrew W. Mellon Foundation, The New York Community Trust, Jennifer and Jonathan Allan Soros, Jon Stryker and Slobodan Randjelović, Charles H. Revson Foundation, Robin Hood, Rockefeller Brothers Fund, Laurie M. Tisch Illumination Fund, UJA-Federation of New York, and Wells Fargo Foundation. A full updated list of the major contributors to the Fund can be found here.

This initiative is providing grants and no-interest loans for needs including:

• Unrestricted, flexible funding to support new and emergency needs and meet community demands, particularly for service offerings outside normal operations required to respond to social distancing, isolation and quarantine.
• Technology to support remote work and services – laptops and remote calling capacity (ie. Zoom) for staff, securing staffing and training to fulfill their mission.
• Temporary staff support to cover for shortages caused by employees who are ill, may have to quarantine, or stay home to care for family members or children during school closures.
• Equipment and supplies such as masks, hand sanitizer, gloves, and cleaning supplies.
• Additional cleaning services to augment in-house operations.
• Support to aid the loss of operational revenue from facility closings, cancelled programs, events, and other disruptions.

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• To be eligible, an organization must meet the following criteria:

• 501(c)3 nonprofit organization

• Based in New York City

• Recipient of New York City and/or New York State government funding

• No more than $20 million of annual non-governmental revenue

• Track record of robust programming and services for New York residents

• Interested organizations can get more information here.