Iowa Cultural Trust Stability Grants

“…to bring financial stability to these organizations through fluctuating economic conditions, it is the intent of the general assembly that a public trust be established the income from which may be made available to supplement the operating budgets of nonprofit cultural organizations that meet certain criteria, including a commitment to strategies to attain long-term financial stability and sustainability.”

Iowa Cultural Trust Legislation, Iowa Code 303A.2

NOTICE: The application deadlines for Cultural Trust Stability Grants and Endowment Challenge Grants have been postponed. The new deadlines will be announced on this website later this spring or summer. For questions, please contact Cultural Trust Coordinator Bruce Williams at bruce.williams@iowa.gov.

Grant Program Description

Iowa Cultural Trust Stability Grant funds are for projects that will help Iowa cultural organizations reach goals of fiscal stability and institute best practices in organizational strategic planning and management.

Application Deadline

The next deadline will be announced after January 1, 2012. This is NOT a postmark deadline; all application materials must be received in the Iowa Cultural Trust office by 4:30 p.m. on the deadline date. If the deadline falls on a weekend or holiday in any year, the actual deadline will be the next business day. Applications should be submitted to: Iowa Cultural Trust: Stability Grant, 600 E. Locust, Des Moines, Iowa 50319.

Grant Amount

Applicants may request up to $2,500, but no more than 50% of the total project cost. All requests must show a dollar-for-dollar cash match. In other words, for every Stability Grant dollar an applicant requests for a project, the applicant (or donors to the applicant) must contribute a dollar toward covering the project’s expenses. In-kind donations of time, materials, services and supplies are not considered a cash match and do not count as a cash match for this grant program.

Each organization is limited to receiving one Stability Grant per fiscal year (July 1 to June 30). First-time applicants will be given priority over requests from organizations that have received Stability Grants in previous years.

Period of Support

The period of support is January 1 – December 31 following the application deadline. Grant funded expenses and matching expenses must be incurred and expended during this period.

Use of Funds

Stability Grants are intended to make measurable changes in the ability of cultural organizations to become financially stable and sustainable. Grant funds may be used to hire a consultant to advise on appropriate policies and structures related to nonprofit financial or fundraising best practices (in particular, those detailed in the Iowa Principles and Practices for Charitable Nonprofit Excellence), to assist in developing a financial, fundraising, or endowment building plan, or to do fundraising for the applicant organization. Funds may assist in hiring new fundraising staff or expanding a current fundraising position. Funds may also be used to train the board and/or staff on fundraising, financial management, or endowment building.

Applicant Eligibility

Applicant must be an Iowa nonprofit, 501(c)(3) tax-exempt organization, or a local, municipal, or county governmental agency. The applicant must be located in Iowa.
Operate with one of the following organizational missions:

Arts Organizations: primary mission and purpose must be the arts; it must operate as an arts organization, including but not limited to: an art museum, performing arts-producing organization, or community arts agency.
OR
Historical Organizations: primary mission and purpose must be historical; it must operate as an historical organization, including but not limited to: a public historical museum, interpretive center, historical society, historical library or archive repository.
OR
Cultural Organizations: primary mission and purpose must be cultural; it must operate as a cultural center, botanical center, museum, or zoo.

Have been incorporated as a nonprofit organization or in existence as a local, municipal, or county governmental agency for at least three years.
Have at least one paid part-time or full-time professional employee who is responsible for managing the organization.
Certify that at least one current staff and/or board member from the organization has participated in training for non-profit strategic planning and administrative best practices prior to applying for grant funding—i.e., attendance at the Iowa Nonprofit Center’s 6-hour training on the Iowa Principles and Practices for Charitable Nonprofit Excellence, a half-day or longer professional development seminar addressing the issues of accountability, transparency, stability, and sustainability in non-profit management in the last two years, or has gained this knowledge through work experience.

Not eligible to apply:

Individuals
An entity of federal or state government
An organization applying through a fiscal agent
An organization with an outstanding late Final Report to the Department of Cultural Affairs or any of its divisions
A public (non-historical) library, park, or recreation center
A for-profit corporation or business
A religious organization, labor union, political party, or national service/professional organization
An educational institution, organization, or K-12 school, whose primary orientation, mission, and purpose is education and the awarding of academic credits
An organization that has already received funding for the same project from another DCA grant program

Definitions

Strategic Plan: A multi-year plan that includes goals, strategies, and assessment measures for the organization, including strategies related to long-term financial sustainability.

Endowment: An endowment is a collection of funds, typically invested in long-term assets that produce income for an organization. Generally, the endowed asset is kept intact and only the income generated by it is consumed.

Stability: A stable nonprofit organization operates in alignment with nonprofit best practices, in particular those detailed in the Iowa Principles and Practices for Charitable Nonprofit Excellence.

Sustainability: A sustainable nonprofit organization has structures and processes in place that will help it to thrive for many years. These structures and processes include an engaging mission, lawful and appropriate governance structure, regular and thorough strategic planning, a healthy endowment, ethnical and accountable management practices, and clear community support for its contribution to quality of life.