HARTFORD, CT -- The CHEFA Board of Directors has met and approved updated grant program policies. CHEFA issues tax-exempt bonds for 501(c)(3) entities, primarily in the healthcare, educational, childcare, and cultural sectors. Grants will be made to 501(c )( 3) organizations or public educational institutions that are constituent units as defined in C.G.S.§10a-1 whose core mission fits into one of these four sectors. The mission of an organization as a whole must fit into one of four priority areas in order for the organization to be eligible for a CHEFA grant.
CHEFA will continue to fund capital projects/purchases and program grants. Grant recipients will now be eligible to receive a grant in three consecutive years before being asked to take one year off prior to applying for another grant. This replaces the previous policy of two consecutive years receiving a grant and the following year off. There will no longer be a 10% investment in the capital project/purchases or program required of our Client Grant applicants, (this requirement had not applied to the Nonprofit Grant applicants).
CHEFA funds statewide, which is unique within the Connecticut philanthropic sector, as many foundations within the state are bound by a geographic footprint. CHEFA hopes to review grant requests and award grants throughout the state subject to funding availability.
CHEFA is looking at innovative models that will combine its unique expertise in the investment, philanthropic, and legislative arenas. Tackling statewide societal issues with the potential for large-scale impact through Social Impact Bonds (also known as Pay for Success) could be an opportunity for CHEFA to explore providing leadership within the state and philanthropic sector. Funder collaborations and informational sessions may also provide leadership potential for CHEFA moving forward.
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Contact:
Betty Sugerman Weintraub
CHEFA
Grant Program Manager
860-761-8428
philanthropy@chefa.com
Website: www.chefa.com