March 2, 2015
As part of New York Governor Andrew Cuomo’s “2015 Opportunity Agenda,” a ten part agenda to combat poverty and fight inequality, the Governor announced the creation of a $50 million nonprofit infrastructure capital investment program. In recognition of the role that nonprofits play in the delivery of vital and essential services to the State’s most needy populations, this program creates a fund that can be used by nonprofits to help bolster their organizations in an effort to develop sustainable platforms for the delivery of these services. The intent of the fund is to assist nonprofits as they strive to expand their outreach, improve the quality and scope of their services offerings, and allow greater accessibility to these important human services. In many cases, the services provided by the nonprofit community create overall cost savings to the State by delivering these services in a much more focused and cost efficient manner.
What does this mean for associations and nonprofits in New York State? Many associations may not be eligible for funding, but those organizations that offer human services will benefit. If your nonprofit serves the needy population of New York State, particularly in high-need communities, it may be eligible for funding.
The Capital Investment Program will provide funds for targeted investments through a competitive grant award process. Priority will be given to those nonprofits already providing services through State contracts to high need areas. Priority will also be given to smaller nonprofits that may lack access to capital investments through other sources.
This initiative from the Governor means great things for New Yorkers, especially those struggling with poverty. The program also demonstrates the government’s confidence in nonprofit organizations, which can supplement the state’s human services programs. Nonprofits can make a real difference, and New York’s investment in them will allow eligible groups to accomplish their important work more effectively.
To learn more about the 2015 Opportunity Agenda, click here.