Dodge arts grantees with short-term cash-flow gaps that meet the eligibility requirements below are invited to apply for zero-interest, no-fee loans through the Prudential Loan Fund. 

UPCOMING DEADLINES

In 2017, the application deadlines for the Prudential Loan Fund are: 

  • May 15, 2017
  • September 15, 2017 

ELIGIBILITY 

Only organizations that meet the following criteria may apply for a loan:

  • 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)
  • Attendance at Prudential Loan Info Session workshop

APPLICATION REQUIREMENTS

Required documents include:

  • Two years of financial statements (audit and/or 990) for your organization's most recently completed fiscal years (If your organization's most recent audited financial statements or 990 are more than a year old, unaudited or interim financial reports should be provided for the subsequent fiscal year)
  • Statement of Activities (also known as the Profit and Loss Statement)
  • Current Balance Sheet
  • Aligned side by side on the same page, your organization's 2016 and 2017 board approved operating budget
  • Two Financial Worksheets: Cash flow projection for the next 12 months and the Loan Readiness Financial Health Worksheet. Click here for links to download both
  • Board resolution authorizing your organization to borrow funds from the Prudential Loan Fund
  • Demonstration of two years of successful fundraising events, ONLY if applying for an advance on a fundraising event

PRUDENTIAL LOAN INFO SESSION

All prospective applicants are required to attend a Prudential Loan Info Session led by facilitator Hilda Polanco, founder and CEO of FMA Associates. Organizations may opt to attend a one-on-one clinic to dig deeper into financial management after the workshop. 

The next Prudential Loan Fund workshop is:

  • Info Session: Thursday, July 27 
  • Clinic: Wednesday, August 2