Giving Compass' Take:
- Darius Graham discusses the American Rescue Plan Act and what it could mean for donors and nonprofits alike.
- What does community building look like? How can donors get involved?
- Learn about what else the Biden administration is doing for America.
What is Giving Compass?
We connect donors to learning resources and ways to support community-led solutions. Learn more about us.
In March 2021, President Joe Biden signed the American Rescue Plan Act (ARPA), which provides $1.9 trillion in funds across federal, state, and local governments. The funding streams are numerous and most funds flow through existing programs and agencies to bolster health and economic recovery — for example, $28.6 billion for the Small Business Administration's Restaurant Revitalization Fund and $21.6 billion to continue rent relief. While it would be impossible to identify any one source as more important than another, there is a portion of the funding that presents a unique opportunity for governments and place-based funders to ensure that local communities' urgent needs are prioritized — equitably and strategically — in both the immediate and long term.
Included within ARPA is $350 billion in State and Local Fiscal Recovery Funds (SLFRF) that will be allocated to state, local, territorial, and Tribal governments with no specific predetermined use.
According to the U.S. Treasury Department, the SLFRF's goals are to:
- Support urgent COVID-19 response efforts to continue to decrease spread of the virus and bring the pandemic under control
- Replace lost revenue for eligible state, local, territorial, and Tribal governments to strengthen support for vital public services and help retain jobs
- Support immediate economic stabilization for households and businesses
- Address systemic public health and economic challenges that have contributed to the unequal impact of the pandemic
Read the full article about philantrophic opportunism by Darius Graham at Candid.