The Freeman Challenges is a matching grant to help nonprofits establish an endowment or board-restricted reserve.
Donor Name: Greater New Orleans Foundation (GNOF)
State: Louisiana
Parish: All Parishes
Type of Grant: Grant | Matching Grants
Deadline: 10/02/2025
Size of the Grant: $10,000 to $100,000
Grant Duration: 1 Year
Details:
The purpose of The Richard West Freeman Endowment and Board-Restricted Cash Reserve Challenges (The Challenges) is to create an endowment or board-restricted cash reserves for nonprofit organizations serving the Greater New Orleans thirteen-parish region. The Challenges are designed to assist nonprofit organizations in (1) establishing and/or building endowments or board-restricted cash reserves and (2) educating the nonprofit sector and the donor community on the importance of building financial independence to ensure long-term financial stability.
Funding Information
- The Endowment Challenge will match one dollar for every two dollars raised by nonprofits. Nonprofits select one of the three matching categories when applying:
- The nonprofit raises $50,000. The Challenge matches $25,000.
- The nonprofit raises $100,000. The Challenge matches $50,000.
- The nonprofit raises $150,000. The Challenge matches $75,000.
- The Board-restricted Reserve Challenge will match one dollar for every two dollars raised by nonprofits. Nonprofits select one of the three matching categories when applying:
- The nonprofit raises $10,000. The Challenge matches $5,000.
- The nonprofit raises $20,000. The Challenge matches $10,000.
- The nonprofit raises $30,000. The Challenge matches $15,000.
Grant Period
Organizations will have 12 months to meet their challenge.
Eligibility Criteria
- Have 501(c)(3) public charity status in good standing with the IRS.
- Have been in operation for a minimum of five years.
- Be headquartered in one of the parishes served by the Greater New Orleans Foundation: Assumption, Jefferson, Lafourche, Orleans, Plaquemines, St. Bernard, St. Charles, St. James, St. John, St. Tammany, Tangipahoa, Terrebonne or Washington.
- Does not currently have an endowment with a market value that exceeds $1,000,000.00.
- Exhibit readiness for an endowment campaign or fundraising for a board-restricted cash reserve.
- Have board approval to take part in the challenge. In the case of either an endowment or a reserve, the resolution must include language committing to house the fund at the Greater New Orleans Foundation.
- Attend the prerequisite workshop “Are You ready for an Endowment?” sponsored by The Richard West Freeman Challenges and Greater New Orleans Foundation Nonprofit Leadership and Effectiveness Program.
- If declined during an application stage, has waited to reapply until the second consecutive cycle. To note, organizations may apply for the alternate Challenge during the immediate consecutive cycle.
- Have attended the prerequisite workshops within the same calendar year of application.
- Have agreed to not count funds raised for other matching grants towards their Challenges goal.
- Have not completed an endowment or cash-reserve policy challenge during a past cycle (can only participate in each challenge type once).
For more information, visit GNOF.
