Square Financial Services, a Utah state-chartered industrial bank and a subsidiary of Block, Inc., has announced the launch of its 24 Squared grant initiative, in collaboration with the Community Foundation of Utah (CFU). Building on the success of the 22 Squared program in 2022, this initiative will provide microgrants of at least $2,400 each to 24 501(c)(3) nonprofit organizations across Utah, focusing on community development projects.
Aligned with Block’s mission of economic empowerment, the microgrants are designated for Utah-based nonprofits working in one or more of the following areas: small business development, affordable housing, reentry support and entrepreneurship, and financial capability and wellness.
“The 24 Squared program supports underserved organizations that might otherwise lack funding to start or expand their operations. The grant we received was crucial for funding our programs and services,” said Sara Day, Program Manager at Utah Microloan Fund, a 2022 microgrant recipient. “Support from organizations like Square Financial Services is essential for the work we do.”
Over the past two years, the 24 Squared initiative has garnered significant interest from regional nonprofits, awarding more than $100,000 to recipients in 15 Utah cities. This has enabled vital community development efforts in both rural and urban areas throughout the state.
“Having seen the impactful work funded by our microgrant program over the past two years, we’re excited to expand the program in 2024,” said Lewis Goodwin, Chief Executive Officer of Square Financial Services. “We appreciate our continued partnership with the Community Foundation of Utah as we extend support to more organizations improving Utah’s communities.”
“We’re excited to partner on the 24 Squared Grant initiative for a third year,” said Alex Eaton, Chief Executive Officer of the Community Foundation of Utah. “This grant program is vital in providing Utah nonprofits with the resources they need, and we’ve seen its positive effects across the state. We look forward to continuing this important work.”
