Nonprofit Investment Pool Bill Signed

Illinois nonprofits could soon have a new way to grow their funds. Governor J.B. Pritzker signed Senate Bill 2968, allowing the state treasurer to create an investment pool specifically for nonprofit organizations. Treasurer Michael Frerichs says his office worked with lawmakers and the governor’s team to revive the idea after Pritzker vetoed a similar proposal last year. The program would let eligible nonprofits invest through a state-managed pool, potentially giving smaller organizations access to investment tools they may not have on their own. The measure was among more than 30 bills signed by the governor last Friday.