To support selected Irvine grantee organizations in developing and executing plans that position them for mission advancement and long-term financial health.
The recent economic downturn was one of the most severe in U.S. history. Although there are signs of recovery, it has had profound implications for nonprofit organizations and those served by them. Some nonprofit leaders responded proactively to this crisis by developing strategies that will assist their organizations to adapt to a new economic reality. In support of these leaders and their organizations, we created the Fund for Financial Restructuring. Through a competitive application process consisting of two rounds, the fund assisted selected grantees to develop and execute plans that will better position them for the future.
Structure of the Initiative
The fund supports leaders and organizations that have already taken steps in response to the economic downturn by initiating internal planning processes to determine how best to adapt. We are particularly interested in supporting organizations that have already begun to explore longer-term implications and demonstrated proactive thinking and action. The fund does not address short-term cash flow needs as a result of the recession or support core operating costs for conducting “business-as-usual.”
We award grants from the fund on a competitive basis to current Irvine grantees whose activities are supported through the core programs in Arts, California Democracy and Youth. Grants will be in the range of $50,000 to $150,000 for a period of up to 24 months.
The first round of funding was completed in late 2009. The second round of funding was completed in the summer of 2010.
There will be no more rounds for the Fund for Financial Restructuring in the foreseeable future. Irvine program staff regularly works with grantees to ensure strong management practices in light of the economic downturn.