The NYC COVID-19 Response & Impact Fund has announced grants and interest-free loans totaling $44 million in support of local human service and arts organizations impacted by COVID-19.
Launched in March by eighteen New York City-based philanthropies and administered by the New York Community Trust and the Nonprofit Finance Fund, the fund has raised more than $95 million — surpassing its initial goal of $75 million — from over five hundred foundations, corporations, and individual donors. In a first round of grantmaking, the fund awarded grants ranging from $8,000 to $250,000 and loans of between $100,000 to $3 million to nearly three hundred small and midsize human service providers and arts and cultural organizations. The grants are intended to support the organizations' daily operations and offset lost revenue, enabling them to pay rent, make payroll, and fulfill their missions.
The total includes nearly $26.2 million awarded to human service organizations, with priority given to those providing direct services in the areas of health care, housing, and food insecurity, and $17.9 million to arts and cultural groups, including $10.3 million in approved loans to be closed shortly. Recipients include the Afro Latin Jazz Alliance of New York, Coalition for the Homeless, Gina Gibney Dance, HIAS New York, Mount Sinai Hospital, New York City Gay and Lesbian Anti-Violence Project, PEN American Center, Safe Horizon, Settlement Housing Fund, and the Theatre Development Fund. Additional grants and loans will be announced over the coming weeks.
"The response of the philanthropic community and the city's nonprofits during this dark time represents New York at its very best," said NYCT president Lorie Slutsky. "Nonprofits have stepped forward to serve, while New Yorkers across the city are now rallying to back them up in the face of this unprecedented crisis. Nonprofits are asking for help to maintain contact with clients and audiences by moving online, and to meet expenses, including salaries, in the face of huge financial losses. We are pleased to give that help."