The Ford Foundation has announced plans to raise $1 billion through a combination of 30- and 50-year bonds to help nonprofits struggling to stay afloat during the coronavirus pandemic, according to a  by The New York Times.

The Ford Foundation, which reportedly has a $13.7 billion endowment, plans to distribute the money over the next two years, increasing the percentage paid out annually from its endowment from nearly 6 percent to around 10 percent.