The New Jersey Cultural Trust, in collaboration with the New Jersey State Council on the Arts (Arts Council), has issued guidelines for its Fiscal Year 2025 grant program, Institutional and Financial Stabilization Grants for Arts Organizations (IFS Arts). This program aims to address financial and institutional challenges that jeopardize the stability of nonprofit arts organizations by enhancing their operational capacity. Previous projects funded through this initiative have included establishing cash reserves, developing strategic plans, and upgrading technology. The application period will open on July 11, 2024, with submissions due by August 15, 2024.
“The arts are essential to New Jersey’s economy, identity, and overall quality of life,” said Lieutenant Governor Tahesha Way. “Investments in the stability and capacity of our state’s nonprofit arts sector support the sector’s long-term vibrancy and ensure that New Jerseyans will continue to enjoy the benefits of arts and culture for years to come.”
To apply for an IFS Arts grant, organizations must first be designated as qualified by the Cultural Trust. Any organization whose qualification status is expired or will expire in 2024 must submit a paper qualification application by mail postmarked no later than June 24, 2024. The qualification application is available on the Cultural Trust’s website.
Since its inception in 2004, the Cultural Trust has awarded nearly 200 IFS Arts grants totaling over $4.5 million to support capacity-building projects often not eligible for funding from other state agencies.
“The Cultural Trust’s Institutional and Financial Stabilization grants are unique,” said Isabel Kasdin, Executive Director of the New Jersey Cultural Trust. “Rather than funding a specific arts program or providing general operating support, a one-time IFS grant strengthens the underlying infrastructure of a cultural organization.”
Eligible organizations may apply for up to $40,000 in FY25 grant funds for projects such as establishing or growing a working capital fund/cash reserve, debt/deficit reduction, strategic planning/assessment, technology upgrades, capital equipment purchases, professional development for staff/board members, or creating new staff positions.
“The challenges and opportunities facing our state’s arts organizations are as diverse as the organizations and communities they serve,” said Allison Tratner, Executive Director of the Arts Council. “Through the IFS Arts program applicants can identify and make specific investments that are most important to their success.”
The Arts Council serves as the recommending agency for this grant round under guidelines set forth in the Cultural Trust Act. It will accept applications and oversee an independent panel review process before making recommendations to be approved by the Cultural Trust Board.
A workshop on qualification via Zoom is scheduled for May 21 at 3 p.m., offering detailed information about qualifications and how to apply. Registration is required online at https://us06web.zoom.us/meeting/register/tZItdOivrTMiGddRa17y1Nd-mTXpCoAzCrYc.
Further technical assistance specific to FY25 grants will be provided in July and August. Details are available in the grant guidelines.
The New Jersey Cultural Trust was established in July 2000 as a public/private partnership aimed at ensuring a stable nonprofit cultural industry through a permanent investment fund supporting capital projects and institutional stabilization efforts.
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