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Kentucky Nonprofit Assistance Fund

The State of Kentucky has established a nonprofit assistance fund of $75 million to provide direct relief payments of up to $100,000 to qualifying nonprofits in Kentucky.  The amount of assistance a nonprofit can qualify for is determined by its net negative revenue difference between the calendar years of 2020 and 2021.  Net negative revenue difference is the difference between the organization’s overall revenue less expenses, between calendar years 2020 and 2021.  The program allows nonprofits to request assistance, whether their net revenue was higher in 2020 or 2021.  Nonprofits that have a calendar year end, are encouraged to calculate net negative revenue using the information on their Form 990 (line 19 on Form 990).  Nonprofits with a fiscal yearend other than December 31st, will need to prepare financial statements on a calendar year basis and submit an affidavit certifying the statements accuracy.  Priority will be given by the state to nonprofits that have not already received direct financial assistance, other than loans, through the Federal CARES Act, the Consolidated Appropriations Act, 2021, or any subsequent relief package. It is important to note that PPP loans are not considered direct financial assistance for this program. Information regarding the fund and eligibility requirements can be found at the following link:  Team KY Non-Profit Assistance Fund Program.  The window for application to the program opens on August 1, 2022, at 9:00 AM and closes on October 1, 2022, at 4:00 PM.  The program is primarily on a first come, first served basis.  Nonprofits should determine if they qualify and prepare the information necessary for an application as soon as possible.  If you have any questions or need assistance, please contact Tyler Fallin

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