The Owatonna Foundation - Serving the Community

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Guidelines and Information for Grant Applications

The Owatonna Foundation, Inc., issues grants only to organizations in Owatonna, MN recognized by the Internal Revenue Service as 501(c)3 organizations.  The Board of Trustees and its Executive Committee are responsible for the final decision on grant applications and will distribute funds for civic, community betterment, educational, health, literary, recreational, scientific, musical and cultural purposes in accordance with the following guidelines:

  1. Grand awards must have a direct relevance to Owatonna and must benefit a substantial number of its citizens.
  1. Funds will be provided for CAPITAL additions or improvements, including new buildings, furniture, equipment or necessary alterations of existing facilities for both new and existing organizations.  If funds requested are to be used for real estate, construction or remodeling, see Question 5 of the application.  (The Owatonna Foundation encourages recipients to consult with their attorney before entering into construction projects and to use written agreements approved by their attorneys to avoid cost over-runs.)
  1. The Owatonna Foundation no longer awards grants for personal property with a class life of less then 16 years (which is considered 7-year property under the Internal Revenue Code).  Items not having a sufficient class life under this standard to be approved for grants include, but are not limited to: cars, trucks, copiers, fax machines, computers, other office machinery and office furniture.  Personal property which is to become a part of real estate and has a class life greater than 16 years is not subject to this restriction.
  1. If a project is ongoing, applicants must have a plan for continued funding and support from other sources in the future inasmuch as FUNDS ARE NOT PROVIDED FOR OPERATING EXPENSES.
  1. The Owatonna Foundation makes no grants to individuals.
  1. Grant requests must be made on the Owatonna Foundation's "Grant Application Request Form."  A copy of a letter from the Internal Revenue Service advising the organization as exempt from Federal income tax as described in Section 501(c)3 must also be submitted with the application.
  1. The Owatonna Foundation will not act as a conduit or fiscal agent for fundraising by grant requesting organizations.
  1. No part of any grant awarded by the Owatonna Foundation, Inc. shall be used to pay for professional fundraising fees.
  1. Grant applications are to be submitted for review and consideration prior to the following yearly deadlines:
May 1st: Requests of less than $25,000 for action by the Executive Committee at its May meeting.
Sept 1st: Requests of less than $25,000 for action by the Executive Committee at its fall meeting.
May 1st: Requests of more than $25,000 for action by the full Board of Trustees at its June annual meeting.
In only very unusual emergency cases, a special meeting of the Executive Committee or the Board of Trustees may be held to act on a grant application.

For More Information

If you belong to an organization that would like to have a speaker for one of your meetings, a trustee would be glad to give a PowerPoint® presentation to your group as well as answer any questions which may arise.

 

The Owatonna Foundation, Inc.
P.O. Box 467
Owatonna, MN  55060
507-455-2995
 
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The Owatonna Foundation, Inc.
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