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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.