Iowa Cultural Trust Sustainability Challenge Grant applications due May 20
Program supports Iowa’s non-profit cultural, arts and history organizations
For Immediate Release February 26, 2009
(DES MOINES, Iowa) – The Department of Cultural Affairs today announced a May deadline for Iowa non-profit cultural, arts and history organizations to submit applications for Iowa Cultural Trust Sustainability Challenge Grants.
Applications must be received by 4:30 p.m. on Thursday, May 20, 2010, in the office of the Iowa Cultural Trust, 600 E. Locust Street, Des Moines, Iowa 50319. This is not a postmark deadline. The grants are funded through the Iowa Cultural Trust, created by the Iowa Legislature in 2002 to help bring financial stability to non-profit cultural, arts and history organizations across the state.
“Iowa’s non-profit cultural organizations create thousands of jobs and generate millions of dollars in economic activity, but they often struggle to cover their operating expenses,” DCA Director Cyndi Pederson said. “When the Legislature created the Iowa Cultural Trust, the intent was to support long-term financial stability and sustainability in those organizations. This challenge grant will help boost endowment funds for cultural organizations, and endowments are a key way to ensure long-term operating stability.”
Organizations awarded Sustainability Challenge Grants must raise a minimum of $3 in new endowment funds for every $1 of grant funds awarded. Organizations with an operating budget up to $150,000 may request up to $20,000. Organizations with an operating budget over $150,000 may request up to $35,000. The requested grant amount should be appropriate to the needs and the fundraising capacity of the institution.
Sustainability Challenge Grant funds will be paid to grantees after they demonstrate that they have achieved a three-to-one cash match, but no later than two years beyond the date of the award. All matching pledges and gifts must be new during the challenge grant period, and must be received and deposited into the endowment fund during the two-year grant period.
The Cultural Trust legislation calls for up to $1 million to be appropriated to the Cultural Trust annually through 2015 via the Iowa Values Fund. Grants are distributed from interest earned on principal.
Additional information about the Iowa Cultural Trust Sustainability Challenge Grant program, eligibility requirements, rules and regulations is available at www.culturalaffairs.org or by calling DCA at 515-281-5111.
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The Iowa Department of Cultural Affairs is responsible for developing the state’s interest in the areas of the arts, history and other cultural matters with the advice and assistance from its two divisions: the State Historical Society of Iowa and the Iowa Arts Council. DCA preserves, researches, interprets and promotes an awareness and understanding of local, state and regional history and stimulates and encourages the study and presentation of the performing and fine arts and public interest and participation in them. It implements tourism-related art and history projects as directed by the General Assembly and designs a comprehensive, statewide, long-range plan with the assistance of the Iowa Arts Council to develop the arts in Iowa. More information about DCA is available at www.culturalaffairs.org.
