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The New Jersey Economic Development Authority has approved 6,168 nonprofits and businesses for more than $74 million in funding through Phase 4 of its Small Business Emergency Assistance Grant Program, the organization said Tuesday.
The numbers, as of Tuesday morning, are increasing on a daily basis as the EDA continues to process the nearly 30,000 applications it received.
The EDA has $285 million in grant money available: $85 million from the original announcement of Phase 4 in May, plus an additional $200 million that was added to the pot last month.
All of the grantees so far have been given awards from the original $85 million total.
Johnson & Johnson extends our sympathy and support to the thousands of people affected by the devastating earthquakes in Turkey and Syria.
In the immediate aftermath of this disaster, we have been assisting the region by:
- Pledging $1 million for disaster relief efforts to support the following NGOs: International Medical Corps (IMC) and International Rescue Committee (IRC).
- Donating funds to Direct Relief for immediate support of the rescue efforts on the ground in Turkey.
- Donating thermal blankets and working to provide other items in urgent need, including hygiene products, surgical sutures, hemostats, wound closures, and other medical products.
- Establishing an employee giving campaign that is supported with matched gifts for global engagement.
- Supporting temporary accommodation, transportation and access to food and water to impacted employees and their immediate families.
Nonprofit Finance Fund's Annual Survey chronicles the challenges facing the nonprofit sector and calls out some of the targeted investments we can start to agree on as a society to salvage the investment we have collectively made in our social infrastructure. We believe that a coordinated intervention now will not only better prepare us for inevitable future economic crises; it can lead to a happier, healthier community for us all.
Please join us as we hear from partners engaged in building the financial capability of Newark residents to stabilize their families and build wealth for the long-term. We will be joined by Catherine Wilson, President and CEO of the United Way of Greater Newark, who will discuss the work of the Newark Prosperity Hub (formerly Newark Asset Building Coalition) to help residents build assets and generational wealth. Dominque Lee, Founder and CEO of Brick Education Network, will brief us on South Ward Children’s Neighborhood’s initiatives. Kevin Callaghan will provide updates on the recently released City of Newark Economic Empowerment Blueprint. Prudential Financial will discuss their latest initiatives, including a partnership with the Financial Health Network. This is all in an effort to develop a shared partnership framework to inform our collective approach and align resources.
*We will also receive a brief update from the Newark Immigrant Resource Hub at the beginning of this meeting, a follow-up to our March meeting.
Cost: Free for CNJG Members; $75 for Non Member Grantmakers
Evaluators, foundations and nonprofits need to examine the “fit” of our existing evaluation approaches with the principles and values that underlie grantmaking and efforts designed to advance equity.
Statement on the Pandemic and Responses to It
As the leaders of the major philanthropic and non-profit membership organizations in New Jersey, representing both the wide range of non-profit groups and the multi-faceted funders of those groups, we feel compelled to speak out against the hateful responses we and our members have witnessed in reaction to the COVID-19 Pandemic.
Our country has seen countless examples of selfless sacrifice and good works over the past month, both on individual and institutional levels. We are proud that our members have been leaders in responding to the needs of our community.
But to our distress, some individuals have used the pandemic to put forward their bias and hatred toward their fellow citizens.
Times of crisis bring to the surface, on the part of some people, the need to scapegoat. Often, this takes the form of lashing out at particular groups, stirred up by inflamed rhetoric or more subtle code words or phrases, having no relationship to facts. In this time, there have been verbal and physical attacks against people of Asian and Pacific Islander background, as there were against Muslims after September 11 and against African-Americans and Latinos in countless other instances. This hatred and these attacks must stop.
The non-profit sector is the backbone of our communities, providing assistance and education to a wide range of people, in good times and especially challenging times. Many of these services are a lifeline to individuals of all backgrounds, religions, ethnicities, and statuses in life. Non-profit organizations are the vehicle through which people can work together to selflessly assist others. People around the world view the United States as being unique in the breadth and depth of its charitable and philanthropic work, engaging the talents of all individuals, regardless of their economic or social status.
We call upon all people of good conscience in their good work to be alert for these hateful words and actions and to speak out against them, both as individuals and as organizations. Our language and our actions do matter. Everyone, but especially people in positions of public trust or prominence, has the obligation to use our works and our lives to assist all in need and to honor the dignity and potential of all those we meet. We call on not only our own members, but all individuals who serve and volunteer in our sector to join us in this effort to speak out against racism and hatred and to exemplify all the best that we know our country is.
William V. Engel
CNJG Board Chair
Maria Vizcarrondo
CNJG CEO and President
Gina M. Plotino
Center for Non-Profits Board Chair
Linda Czipo
Center for Non-Profits CEO and President
In celebration of its one-year anniversary, the New Jersey Pandemic Relief Fund announced Thursday $16 million in new grant funding to 139 nonprofits throughout the state.
The grants, inspired by philanthropist MacKenzie Scott’s recognition of NJPRF’s impact and her transformational $20 million gift, include $10 million in grants to nonprofit organizations doing exemplary pandemic relief work at the state and local level.
NJPRF also allocated an additional $6 million in direct cash assistance for more than 18,000 of the state’s most vulnerable individuals and families, including higher education students, who will not benefit from government stimulus checks in the recently enacted American Rescue Plan.
The fund has now given $56 million in grants.
“Since the New Jersey Pandemic Relief Fund launched one year ago, we have worked every day to provide support to the millions of New Jerseyans struggling as a result of the pandemic and the crippling economic crisis left in its wake,” first lady Tammy Murphy, the founding chair of NJPRF, said.
“This round of grants goes directly to our nonprofits on the front lines delivering urgent aid to our most vulnerable residents.”
TD Bank has announced the launch of a $100 million equity fund to support minority-owned small businesses.
The fund will enable specialized small business investment companies (SSBICs) and community development financial institutions (CDFIs) to provide small business loans and technical assistance that give businesses the capacity to scale and adapt long-term. The commitment includes $75 million of capital through an SSBIC initiative to be launched later this year and $25 million specifically earmarked for Black- and Latinx-owned small businesses, funded through CDFIs.
"The pandemic has highlighted the depth of disparities that exist in communities of color, especially as it relates to small businesses, which serve as the backbone of our economy," said TD Bank president and CEO Greg Braca. "The equity fund will ultimately infuse capital and help stabilize these small businesses. But it's also about contributing to job creation, stimulating economic development, revitalizing these vibrant communities, and, just as important, breaking the cycle of disinvestment [that] systemically prevents communities of color from thriving. Small businesses are the heart of our communities — especially communities of color — and it's up to us to help them succeed."
NJM Insurance Group said it recently made a $100,000 donation to benefit hunger relief efforts across the mid-Atlantic region.
The monies are part of the West Trenton-based firm’s yearlong commitment to supporting communities, which now totals more than $2 million in donations in 2022.
NJM’s support of communities is rooted in a culture of purpose-driven service. The company directs charitable contributions toward organizations that support arts and culture, health, community assistance, safety and financial literacy. Other areas of focus include education and enrichment and revitalization programs such as those offered by social service organizations and food banks.
“NJM is a service organization working on behalf of our policyholders and the communities in which they live and work,” Mitch Livingston, NJM CEO and president, stated. “We partner with nonprofits and organizations dedicated to delivering needed resources that can positively impact lives, and we are privileged to support these causes throughout the region.”