In response to the economic crisis and the impact it is having on front-line human service organizations, The Kresge Foundation has established a 24- to 36-month, interest-free program-related investment fund offering bridge loans of $250,000 to $500,000 to high-performance organizations so that they may be better able to meet the ever-increasing demand for their services.
Our programmatic approach
Competitive applicants will meet the following criteria:
- Provide comprehensive front-line services (homeless and domestic-violence shelters, safety-net providers, affordable housing and supportive services, legal aid services, emergency-assistance providers, and multi-service health and human service organizations)
- Have been in operation for three years
- Have a solid base of net assets or net worth, or long-term history of recurring revenue
- Can provide evidence of stable operating performance (net operating surplus over the past three to five years)
- Possess audited financial statements for the past two years.
Application process
We are making every attempt to fast-track the application process. To apply for a program-related investment loan, please submit the information outlined below in one e-mail only to grantsmanagement@kresge.org. Be sure to put “Community Relief Fund” in the subject line of your e-mail and to save copies of all the materials you submit. A complete application proposal includes:
- Kresge Foundation grant application cover sheet (found in the Resources box in the top, right-hand corner of this page)
- Kresge Foundation demographic data sheet (found in the Resources box in the top, right-hand corner of this page)
- One-page letter of request on the organization’s letterhead, signed by an individual authorized to enter into agreements on behalf of the organization
- Proposal narrative of five, type-written pages or less that addresses the following:
- A description of your organization, including its mission, background, activities and population served
- An overview of your community and the role your organization plays in it
- An explanation of how the organization is advancing Kresge’s values criteria, particularly the values of creating opportunity, serving underserved geography, promoting diversity and strengthening community impact
- Qualifications of the program staff, including a list of the names of key staff members (CEO, CFO etc.)
- Amount of the loan requested and an explanation of how the funds will be used (include a brief discussion of the impact of the economic crisis on your organization and operating budget; any quantifiable increases in demand for services; the effects of the crisis on your revenue sources, including contributions and government funding, if applicable; and whether or not the organization is experiencing revenue shortfalls and how the situation is being managed)
- One-page budget sheet comparing your most recently completed fiscal year’s revenue and expenses with your current-year projections
- Audited financial statements for the past two years, including management letters
- List of your Board of Directors and their affiliations.
Eligibility
Who may apply?
- 501(c)(3) organizations based in the United States that are not classified as private foundations and have financial statements prepared and certified by a certified public accountant in accordance with U.S. Generally Accepted Accounting Principles or Government Accounting Standards.
- Government entities that have financial statements prepared and certified by a certified public accountant in accordance with U.S. Generally Accepted Accounting Principles or Government Accounting Standards.
Who may not apply?
- Individuals
- Elementary and secondary schools
If you have questions, e-mail our Grants Inquiry Coordinator or call 248-643-9630.
Deadline: Open. For more information and details please visit their web site.
To view other available grants please click here.
