Santa Cruz ARP: Nonprofit Grants For Financial Asset Building.pdf

The American Rescue Plan Act of 2021 allocates funds for local governments to support small businesses and nonprofits in Santa Cruz County, Arizona, focusing on financial asset building. This strategy aims to combat asset poverty (inability to cover three months of basic living expenses) by providing financial tools and services that help individuals and organizations build and preserve wealth.

Key Components:

1. Financial Asset Building: Includes forgivable loans, traditional loans, financial classes, training, and services like credit counseling, emergency savings strategies, business skills development, free tax filing assistance, health insurance, and child care supports.

2. Santa Cruz County Nonprofit Grants (Application deadline: January 31):
- Goal: Assist local entrepreneurs, employees, and employers with asset building.
- Eligible: 501c3 and 501c6 organizations, with $25,000-$45,000 grants available for operating expenses and capital.
- Partnership encouraged, with each partner receiving their own grant upon approval.

3. Forgivable Loans (Application out in late April/May):
- Goal: Provide loans to entrepreneurs, employers, and 501c3 nonprofits that can be forgiven if certain conditions are met (e.g., securing financial asset building services, matching loan, job training certification, or building community assets).
- Eligible: Pandemic-impacted businesses, entrepreneurs (including start-ups), artists, and 501c3 nonprofits, ages 18 and older.
- Grants up to $25,000 (up to $2,500 for local artists/creators).

Eligibility:
- Santa Cruz County 501c3 and 501c6 organizations serving low and moderate-income residents.
- Nonprofit organizations based outside the county, partnering with or serving as a fiscal sponsor to a Santa Cruz County organization.

Scoring Criteria (Maximum: 100 points):
1. Providing services that build economic assets (30 points)
2. Partnering with collaborating partners (30 points)
3. Creative methods or partnerships (20 points)
4. Measurable impact (20 points)

Monitoring and Reporting:
- Quarterly data collection on client eligibility, unduplicated clients served, and narrative description of services' impact on economic assets.
- Organizations must certify use of federal funds and enter into a subrecipient contract with Santa Cruz County.

Payment and Support:
- Direct payment from Santa Cruz County.
- Free grant writing assistance available from Local First Arizona.
- Contact information provided for inquiries and application assistance.