|FOR IMMEDIATE RELEASE |
Nadia Villagrán | Program Director
Rural LISC Rural LISC receives a $1 million grant from Truist to establish the Recovery Grant Fund for Rural Nonprofits Washington, D.C. (October 22, 2020)—
Rural LISC has received a $1 million grant from TruistFinancial Corporation through its Truist Charitable Fund, a donor-advised fund at The Winston-Salem Foundation, to create the Recovery Grant Fund for Rural Nonprofits. These investments will help nonprofit organizations address their immediate financial challenges resulting from the COVID-19 pandemic. The cash grants are designed to keep nonprofits solvent and help organizations meet their most urgent needs, including operational costs like paying employees, covering rent, and pivoting service delivery to a mobile or web-based model.
LISC will make grants to support the organizations positioned to help serve the communities most heavily impacted by this economic downturn and provide strategic funding to help alleviate the worst impacts brought on by COVID-19. The grants will be awarded to nonprofit organizations that provide essential social services, including but not limited to providing basic necessities, health care services, employment assistance, digital equity services, financial assistance, educational support assistance and access. Grants of up to $10,000 will support the operations of these nonprofits, enabling them to continue providing services. “Nonprofits are often the backbone of rural communities, providing a host of essential services that strengthen local ecosystems including the economic environment.” Says Cait Cain, Vice President of LISC and Director of Rural LISC. “The Truist Charitable Fund recognizes this, and we’re proud to be working with them on behalf of the 60 million Americans living in rural communities.“
The Recovery Grant Fund for Rural Nonprofits will be awarded to nonprofit organizations with operating budgets under $2 million in rural communities located in the following 17 states: Alabama, Arkansas, Florida, Georgia, Indiana, Kentucky, Maryland, Mississippi, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and West Virginia. This work will target the rural communities in LISC and Truist’s shared markets to promote sustained relief and recovery. “Nonprofits in rural areas are innovating in remarkable ways to improve the communities they serve,” said Lynette Bell, president of the Truist Foundation. “We’re pleased to build upon our support of small businesses in partnership with LISC to help strengthen nonprofits that are addressing critical needs in rural areas.”
ABOUT RURAL LISC
Launched in 1995, Rural LISC is the rural component of the largest community development support organization in the country, called LISC (Local Initiatives Support Corporation). For 25 years, Rural LISC has collaborated with rural communities, helping to forge innovative solutions that lead to prosperity and opportunity. Rural LISC supports 92 partners serving more than 2,200 rural counties in 45 states. Over the last 25 years, Rural LISC’s investments in rural America have totaled $1 billion in grants, equity and low-cost loan funds. Rural LISC has leveraged this investment resulting in close to $3.6 billion from public and private sources, to produce 36,650 affordable homes and apartments, create 4.4 million square feet of commercial and community space, and assist approximately 750 businesses. By generating resources and investing in the grassroots efforts of its 92partner community-based organizations, Rural LISC is committed to making rural communities good places to live, work, do business and raise children. Learn more at www.lisc.org/rural.
ABOUT TRUIST CHARITABLE FUND
The Truist Charitable Fund is a donor-advised fund created by Truist and administered by The Winston-Salem Foundation.
Truist Financial Corporation is a purpose-driven financial services company committed to inspire and build better lives and communities. With 275 years of combined BB&T and SunTrust history, Truist serves approximately 12 million households with leading market share in many high-growth markets in the country. The company offers a wide range of services including retail, small business and commercial banking; asset management; capital markets; commercial real estate; corporate and institutional banking; insurance; mortgage; payments; specialized lending and wealth management. Headquartered in Charlotte, North Carolina, Truist is the sixth-largest commercial bank in the U.S. Truist Bank, Member FDIC. Learn more at Truist.com.
ABOUT TRUIST FOUNDATION
The Truist Foundation is committed to Truist Financial Corporation’s (NYSE: TFC) purpose to inspire and build better lives and communities. Established in 2020, the foundation makes strategic investments in nonprofit organizations to help ensure the communities it serves have more opportunities for a better quality of life. The Truist Foundation’s grants and activities focus on leadership development, economic mobility, thriving communities and educational equity. Learn more at Truist.com/Truist-Foundation.
|Rural LISC works with 92 partner organizations creating sustainable rural communities across 45 states. Visit our website here.|
|Local Initiatives Support Corp.|
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