The Freddie Mac Foundation has announced the
creation of the Helping Hand Emergency Fund.
Helping Hand is a $2 million emergency fund
to help support nonprofit programs which the
Foundation now funds in the Washington metropolitan
area, that have been negatively impacted by
the current economic downturn. The fund is
designed to help address the budget shortfall
that many nonprofits are experiencing. To qualify
for funding, organizations must have programs
or services that have been supported by a Freddie
Mac Foundation grant in both 2001 and 2002
and meet other eligibility requirements. Applications
for emergency grants must be received by the
Freddie Mac Foundation by 5:00 p.m. on July
2, 2003.
Eligibility:
To be eligible, nonprofit organizations
must have been supported by a Freddie
Mac Foundation grant in both 2001
and 2002 (regardless of when grant began).
Grants will be made to support the
continuation of direct services to children
and their families. The Emergency Fund
will only be used to support programs
previously funded by the Foundation and
will not support planning, capacity building,
capital or advocacy efforts.
Amount of Awards:
Emergency awards will cover only a
percentage of the program costs and not
the organization's budget shortfall.
This percentage will be determined by
the Freddie Mac Foundation once applicants
are approved for funding.
Selection Criteria: Applicants will
be approved for funding based on:
Severity of emergency
Organization's plan to address the
budget shortfall of the Freddie Mac
Foundation grant-funded program
