Thursday, April 16, 2009

Recovery Act Update

Today, I had the honor of meeting Michigan Governor Jennifer Granholm during a town hall meeting about the Recovery and Reinvestment Act. The meeting was extremely helpful in getting a better idea of how the funds will reach the state and local levels. A majority of the funding is being released through formula grants to already existing programs. For example, people eligible for unemployment benefits will see an increase of $25 per month as well as an extension of benefits to 79 weeks. This is not a new program, rather an increase in the already existing program.

Some individuals will benefit directly from the Recovery funds through tax credits-such as the newly increased Earned Income Credit. People over the age of 65 and/or people living with disabilities will receive a stimulus check for $250.

Non-profit organizations have a chance to apply the Recovery Act funds as well. There are many grant opportunities to date that are considered competitive grants and are open to all qualifying organizations. Some of the categories that these competitive grants will be awarded in are: Economic Development, Education and Research, Energy, Environment, Health & Human Services, Job Training, Public Safety, and Technology. Almost all of these grants will need to be applied for directly through the Federal Government. Some of the specific grants that will be awarded will be for projects such as: Early Head Start agencies to expand and increase the number of families served in existing programs, funds to supplement and expand ongoing efforts to provide shelter, food and supportive services for the nation's hungry, homeless and people in economic crisis, as well as grants to provide part-time employment opportunities for low-income seniors.

It is expected that the majority of the grant applications will be due within the next 90 days or so. In addition, there will be more arduous reporting requirements for organizations that receive the Recovery Act funds.

Grant Consulting Services can assist your organization with the grant application and reporting processes.