Capacity Building and Operational Support Grant

The FY25 JEDI (Justice, Equity, Diversity, and Inclusion) Grant aims to empower organizations that support the growth and sustainability of socially and economically disadvantaged businesses in New Mexico, particularly in underserved and rural areas. The grant, administered by the JEDI Office, seeks to address systemic inequities faced by New Mexican entrepreneurs by providing financial support to organizations that offer programming, tools, and direct services designed to aid business development and sustainability. Eligibility for the JEDI Grant is open to community organizations, nonprofits, and for-profit businesses that provide services directly aimed at empowering entrepreneurs from disadvantaged backgrounds. Eligible services include business training workshops (such as financial literacy and marketing strategies), one-on-one business consulting, technical assistance for legal or regulatory challenges, business incubator programs, and support for securing capital or funding. The grant is intended to fund capacity-building activities that assist businesses in overcoming barriers to long-term sustainability. For FY25, three grants of $15,000 each are available. These funds can be used for a variety of capacity-building activities, including: - Planning Activities: Organizational assessments, strategic planning, fundraising development, or business planning. - Board and Leadership Development: Leadership training, governance strengthening, and expanding board diversity. - Strategic Relationships: Technical assistance for collaborations, mergers, or strategic restructuring. - Internal Operations: Improvements to financial management, human resources, and facility planning. - Technology Improvements: Upgrades to hardware, software, cybersecurity, and training for optimal technology use. - Developing New Income Sources: Business planning or startup costs for new programs or social enterprises. - Building Evaluation Capacity: Developing evaluation plans and outcome metrics for program success. - Evidence-Based Program Adaptation: Implementing or adapting existing evidence-based models to enhance current programs. - Core Operating Support: Funding for essential infrastructure, staff salaries, and day-to-day operations. Applicants should note that the grant is not intended for general business operations but for organizations that provide direct support to disadvantaged entrepreneurs through specific capacity-building services. Grantees will receive full advance payments tied to milestones in their budgets, and they must invoice after completing and reporting on each milestone. The application deadline is Wednesday, October 30, 2024. Organizations should account for gross receipt taxes (GRT) and other applicable taxes in their budget proposals, especially for-profit applicants. For-profit contractors with the state will receive a 1099 for the grant income. This grant provides an important opportunity for organizations committed to supporting disadvantaged business communities in New Mexico, particularly those fostering entrepreneurship in minority, rural, and historically underserved areas.