IECF staff and nonprofit representatives celebrate after the Riverside City Council vote
Nonprofit Resilience Funds: A Lifeline for Community Organizations
IECF applauds the Riverside City Council’s recent approval of a $2.8 million Nonprofit Resilience Fund to be managed by IECF. The fund will use federal American Rescue Plan Act (ARPA) dollars to bolster the work of local nonprofits. The Council’s decision reflects a solid commitment to strengthening our community and empowering nonprofits with the necessary resources to continue their vital work.
This groundbreaking initiative, set up as a revolving loan program, aims to provide financial stability to local nonprofit organizations. It will offer low-interest loans that are repaid, replenishing the fund and allowing nonprofits to benefit for generations to come.
Such loans are crucial for nonprofits, which often struggle with limited resources, delayed grant funding, and competition for donations. The pandemic exacerbated these challenges, forcing many organizations to adapt to new realities while increasing services and navigating financial uncertainty.
Michelle Decker answers councilmembers’ questions during the recorded council session.
“This is a game-changer for Riverside’s nonprofit sector,” said Michelle Decker, IECF’s President and CEO. “By providing much-needed financial flexibility, this fund empowers organizations to innovate, serve more people, and create a lasting impact on our community. We’re grateful to the City Council for recognizing the vital role of nonprofits.”
We look forward to sharing more details about the application process and eligibility criteria in the coming weeks.
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