SPRINGFIELD – State Senator Adriane Johnson is leading a measure, in collaboration with the Office of the State Treasurer, to establish a state-managed investment pool for non-profits, providing a secure and competitive investment option.

“Non-profits play a critical role in supporting our communities, but many lack access to investment opportunities that help their resources grow,” said Johnson (D-Buffalo Grove). “This initiative ensures they have the same secure and reliable investment opportunities as government entities.”

Senate Bill 246 would allow charitable organizations and labor or agricultural groups to invest their funds in a state-managed pool, similar to the existing Illinois Funds Program, which currently manages over $20 billion for state and local governments. This initiative would help non-profits earn better returns on their investments while keeping their money secure and accessible.

Many non-profits have savings but lack investment options that balance strong returns with financial security. The Non-Profit Investment Pool would allow them to combine their resources, earning interest at lower costs than if they invested alone. Participants would receive interest based on their account balance, helping them grow their financial stability.

Illinois would follow Pennsylvania’s successful model, where a similar program has invested over $70 million for non-profits while maintaining high safety standards.

“By giving non-profits access to the same high-quality investment opportunities as government entities, we’re helping them stretch every dollar further,” said Johnson. “This measure will allow organizations to maximize their resources, strengthen their financial stability, and continue serving communities across Illinois.”

Senate Bill 246 passed the Senate and heads to the House for further consideration.

###