Charitable Trust Frequently Asked Questions (FAQs)

What is the purpose of the Charitable Trust Stabilization Fund?
Charitable Trust is a grant program authorized by the IL General Assembly and led by the State Treasurer’s office, intended to help support small non-profit organizations across Illinois.

How do I apply for a Charitable Trust Grant?
You may apply online at ilcharitabletrust.com. Applications will be available from January 1 to March 31, and from July 1 to September 30.

Who qualifies for a Charitable Trust grant?
Charitable Trust will be accepting grant applications in three focus areas: Food Programs, Housing Programs, and Workforce and Economic Development Programs. Additionally, the organization must meet the following requirements:

  • The organization is a not-for-profit corporation exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code.
  • The organization is organized under the Illinois General Not-for-Profit Corporation Act of 1986 to provide charitable services to the community.
  • The organization is domiciled in the State of Illinois and provides charitable services exclusively in that state.
  • The organization has a budget of $1 Million or less.
  • The organization has at least one full-time paid employee.
  • The organization has adopted a policy of non-discrimination on the basis of race, gender, sexual orientation, age, national origin, disability, family status, or religion.

Additionally, non-for-profits with a person, or immediate family member (including but not limited to a spouse/domestic partner, sibling, or child) holding an elective office making in excess of $60,000, where any such person holds a position of paid staff, consultant, director, officer, or board member of an organization, will not be eligible to apply.

The total grant request should not exceed 30% of the organization’s budget and should not exceed 25% in overhead costs, unless the grant will be used for a one-time expenditure.

Previous grant recipients are eligible to apply if the term of their grant has expired for at least 1 calendar year.  A grantee may not receive a grant award in more than 2 consecutive calendar years.

Fiscal sponsors, sub-grantees, and other applications on behalf of another organization will not be considered.

Organizations that do not file AG990-IL forms regularly due to an exemption must provide a recent audited financial statement to be considered.

How large are the grants?
Grants of up to $20,000 will be awarded for the Spring and Fall grant cycles.

Where does money for the Charitable Trust come from?
A Charitable Trust is funded by the fees collected from non-profit organizations when they incorporate with the State.

What is the process for securing a grant?
Applicants must apply online at ilcharitabletrust.com.  Applications will be reviewed by staff in the State Treasurer’s Office, and then by members of the Charitable Trust Stabilization Committee, who make a final recommendation to the State Treasurer.  The State Treasurer makes the final determination on the grant award.  Before finalizing any grant, a site visit by staff of the State Treasurer’s office and/or a member of the Charitable Trust Stabilization Committee will be required.

Who Serves on the Charitable Trust Stabilization Committee?
The committee is made up of 6 private citizens and 5 appointees from various government agencies.  The current composition is as follows:

  • Illinois State Treasurer Michael Frerichs, Co-Chair
  • Erica Spangler Raz, Designee for Illinois Attorney General Kwame Raoul, Co-Chair
  • Ariana Correa, Designee for Illinois Lt. Governor Juliana Stratton
  • Dan McManus, Designee for the Illinois Department of Commerce and Economic Opportunity
  • Brandon Purcell, Designee for the Illinois Department of Financial and Professional Regulation   
  • Andreason Brown, Appointee
  • Ron Budzinski, Appointee
  • Joan Dixon, Appointee
  • Sheila Simon, Appointee

What are the terms of the grants?
The term of any grant award shall be for one year, with grant funds to be expended by a grantee within one calendar year after the effective date of the Grant Agreement.

How often can an organization apply for a grant?
Previous grant recipients are eligible to apply if the term of their grant has expired for at least 1 calendar year.  A grantee may not receive a grant award in more than 2 consecutive calendar years.