Announcing the New Prudential Loan Fund

Arts and culture nonprofits have tough challenges. Getting funds on time shouldn’t be one of them.

That’s why Prudential Foundation and Geraldine R. Dodge Foundation teamed up to create the Prudential Loan Fund, a new program offering zero-interest/no fee, short-term loans to eligible New Jersey nonprofit arts and culture organizations with cash flow gaps.

Current Dodge Foundation Arts grantees that fit the criteria are invited to apply for a loan beginning when the application period opens in October. Please review the below eligibility criteria and application requirements to see if you are a match for funding. Please note: Perspective applicants are required to attend a half-day technical assistance workshop in September. 

Eligibility Criteria:

  • Dodge Foundation Arts grantee for at least three years
  • An annual budget of $5 million or less
  • NJ State Council on the Arts funding or any state, federal, or local contracts  (CDBG, school, etc)

Application Requirements:

  • Online application
  • Financial health assessment
  • Documentation of two-year track record of successful fundraisers
  • Most recent audit/IRS 990 form
  • Reconciled budget-to-actual for current fiscal year and budget projection for next fiscal year
  • Proof of identified source for repayment funds  

Technical Assistance:

  • All prospective applicants must also attend a financial technical assistance workshop on September 24 or 30

For more information on the Fund and how to register for the workshop, contact Richard Simon, Dodge Arts Senior Program Associate, at rsimon@grdodge.org.