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GRANT AWARDS ANNOUNCED BY CHEFA
Funds Provide Significant Financial Support to Nonprofits for Capital and Programmatic Needs
(HARTFORD, CT) – The Connecticut Health and Educational Facilities Authority (CHEFA) today announced $1.25 million in grant awards to 18 Connecticut nonprofit entities. The awards for this year’s Client Grant Program range from $25,000 to $75,000.
CHEFA provides financing options for colleges, universities, independent schools, hospitals, childcare facilities, cultural institutions and other not for profit entities through the issuance of tax-exempt bonds. Participation in this competitive grant program is limited to not for profit institutions with outstanding bonds issued through CHEFA.
CHEFA’s Executive Director, Jeffrey A. Asher, noted that CHEFA derives its revenues from the annual loan servicing fee it charges its clients, and operates without any State or taxpayer funds. Asher praised his agency’s Board of Directors: “Our Board approved the use of these funds to award grants for programs that make a difference in the lives of Connecticut citizens.”