Could your nonprofit use some “extra cash”? I’m sure most of you answered “yes” to that question. And the timing couldn’t be better. A few months back I wrote a blog post about Ohio’s Honor Project Trust. The Honor Project Trust was created as a result of a lawsuit settlement. Excess settlement proceeds from the lawsuit totaling approximately $9 million were earmarked for Ohio nonprofits. The trust’s mission is to identify and providing funding to not-for-profit charitable organizations that have a societal impact in the State of Ohio.
Ohio’s Honor Project Trust Application Process Now Open
Last week, The Honor Project Trust announced that the Tier II application process is now open. Applications are being accepted now through May 1, 2014. Click here to register for the application process.
How Do You Know If You’re Qualified?
Your nonprofit must be 501(c)(3)-registered with the Internal Revenue Service (IRS). If you’re unsure of your IRS classification, you can visit www.guidestar.org to verify or determine your classification. You must also meet additional requirements set by the State of Ohio Attorney General’s Office (AGO).
When Will You Know If You’ve Been Selected?
If you’re chosen to submit a grant application, you can expect anywhere between eight to 10 weeks for your application to be fully reviewed once it has been received. If your application is more complex or deals with new programs, or if it requests a significant amount of funding the review process may be a bit longer. The Honor Project Trust team anticipates that most grants given to Ohio nonprofits will be anywhere between $5,000 and $50,000.
Ohio Nonprofit Organization Help
If you’re a nonprofit and are interested in learning more about The Ohio Honor Project Trust grant opportunity, contact Rea & Associates. Our Ohio not-for-profit services team can answer questions you may have about the application process, or help you determine if you’re qualified for this grant.
Author: Maribeth Wright, CPA (Cambridge office)
Looking for additional tips and advice on managing your not-for-profit entity? Check out these other blog posts: