As billions in economic stimulus funds wash over Colorado during the next two years, cash-strapped nonprofits need to identify how they can tap into the revenue stream, industry experts say.
With more than half of state nonprofits reporting that major supporters have either cut or eliminated funding, sources of funding are a critical need, according to the Colorado Nonprofit Association.
That makes money from the American Recovery and Reinvestment Act a key source, and hundreds of nonprofit managers at a CNA gathering Friday in Lakewood sought details on how to bolster their budgets.
They learned that state and local governments — conduits for much of the ARRA funds — are still trying to make sense of the act.
Many await federal rules to determine how much money will be distributed and through which programs.
“It is still murky; plus there’s not a lot of time, given the tight deadlines” imposed by the federal government on spending stimulus money, said Laurie Harvey, executive director of the Center for Work Education and Employment, which trains workers for clerical jobs.
Panelists urged nonprofit leaders to reach out immediately to state agencies specializing in their program needs while seeking government workers to join them in applying for ARRA funds.
For example, the Colorado Division of Criminal Justice now has stimulus-funded grants advertised on its website. But before those funds can go to nonprofits such as victim-advocacy groups, they must be routed through a governmental entity such as a police department.
The CNA panelists urged grant seekers to check routinely and various Internet sites that track recovery funds. The state ARRA accountability board has set up with a link to grant announcements.
Miles Moffeit: 303-954-1415 or mmoffeit@denverpost.com
