The Dodge Foundation has offered the Prudential Loan Fund biannually for the past five years to Arts grantees. The Loan Fund offers no-interest, no-fee loans to bridge cashflow gaps or cover upfront expenses for galas or annual benefits.
As a result of the negative financial impact of the COVID-19 pandemic on the arts sector, and the delayed state fiscal year, which will delay New Jersey State Council on the Arts grant payments, this year the Loan Fund will be limited to this one round to offset some portion of first round NJSCA payments.
For this round, eligibility has been expanded to include Dodge Education grantees in addition to Arts grantees that have been part of the program. Applicants' annual operating budget cannot exceed $1 million.
Please review the application steps below.
If you are a Dodge Arts or Education organization interested in learning more about the Prudential Loan Fund, please read through the following steps. If you have any questions, please contact Richard Simon.
All prospective applicants are required to attend a Prudential Loan Clinic led by facilitator Hilda Polanco. Organizations planning to apply for funding that have not attended a clinic should contact Richard Simon.
You will need to complete and upload a cash-flow projection.
Also, please be prepared to submit the following financial documents with your application:
Applicants who have met eligibility requirements, including attending the Prudential Loan Fund Clinic, may apply using the following link.
Dodge staff will review applications for completeness and correct supporting documents.
Foundation staff will contact the applicant if additional information or clarification. If the loan is approved, a loan documentation form will be sent to the applicant prior to the release of the funds.
For 2020, applications will be accepted from Wednesday, July 15 through Friday, August 14. The Loan Fund Committee will meet in late August with notification and disbursement by the end of September.
Participation in a Prudential Loan Fund workshop is required. Those who have not attended a workshop within the past three years should plan to attend one of the two offered with Hilda Polanco on:
Email Richard Simon or call him at 973-695-1186 to schedule. Registration is on a first-come, first-served basis and capacity is limited.
Could your organization use a bridge loan? We compiled answers to some commonly asked questions to help your organization decide if the Prudential Loan Fund is right for you. Go to Frequently Asked Questions
Need help strengthening your Board? Struggling with your organization's communications? Dodge's Technical Assistance workshops are here to help you grow and thrive as a nonprofit organization.
Looking for a place to host a meeting or a workshop? Dodge has two conference rooms available to current grantees free of charge and to other groups for a modest fee.
Do you have a legal question? Qualifying nonprofit organizations can contact Pro Bono Partnership, a nonprofit legal assistance organization, for guidance on a range of legal matters without charge.