Charitable Trust Stabilization Committe RFP for Admin and Financial Services
Public Act 95-0655 established the Charitable Trust Stabilization Fund and Committee to make grants and loans to public, private, and not-for-profit entities across the State of Illinois in accordance with the enabling legislation. The Charitable Trust Stabilization Committee (“Committee”) is issuing this Request for Proposal for administrative and financial assistance in conjunction with identifying appropriate recipients for funds and distribution of those funds. The responsibilities of the Administrator may include but are not limited to: conducting due diligence to identify public, private, and not-for-profit entities state-wide as appropriate recipients of funds, including providing documentation and written recommendations/opinions to the Committee; recommending the structure for the transfer of funds to eligible participants, whether by short-term low interest loans, business loans, or grants, and, if appropriate, consummating necessary transaction (grant underwriting, or loan documentation); monitoring compliance of the Committee, as well as relevant statutory compliance, as applicable; and attending meetings with Committee, conducted on an at least quarterly basis, to discuss the distribution of funds. Please note, with the exception of monies distributed directly to recipients of grant or loans, all funds shall remain in the control and possession of the Committee vis-à-vis the State of Illinois general investment pool, as maintained by the Illinois State Treasurer. Committee funds shall not be transferred to, or commingled with Administrator controlled funds.
The Administrator should have expertise in providing advice and guidance on fund distribution to public, private or not-for-profit entities, similar to a “donor advised fund,” grant making/underwriting and loan transactions experience, and the ability or resources to reach a State-wide audience for potential distribution of funds. The Administrator should possess a strong consulting track record in this area, ideally with prior experience advising public entities.
