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Initiative Foundation reports $756,000 in local grants, highlights loans and energy grants for Morrison County
Summary
Karl Newbanks of the Initiative Foundation briefed the Morrison County Board on recent grantmaking, revolving loan activity and programs for childcare, energy resilience and nonprofit capacity in the county, saying the foundation awarded $756,000 in grants in the past two years and has active lending in Little Falls.
Karl Newbanks, vice president of philanthropy with the Initiative Foundation, told the Morrison County Board of Commissioners that the foundation and affiliated donor funds awarded $756,000 in Morrison County grants over the last two years and supported 154 grants during that period.
The briefing highlighted the foundation’s long-term record in the county — “1,094 grants” and numerous loans since 1986 — and recent activity including about $800,000 in revolving loan fund lending in Little Falls that created or retained about 33 jobs, Newbanks said. “We continue to see high demand for our gap financing,” he said, adding that most loans are made in partnership with local banks.
The foundation described several active programs: an energy-efficiency and community resiliency planning grant round (grants up to $15,000, next deadline Aug. 1), economic development grants for local governments and nonprofits, nonprofit capacity-building training (48 nonprofit leaders trained in Morrison County last year), scholarships for childcare credentials, and a relaunch of the Thriving Communities initiative. Newbanks also said the Initiative Foundation is acting as an intermediary for Otto Bremer Trust grant dollars and expects more external foundation partnerships to increase funds flowing to the region.
Commissioners asked about aid to for-profit small businesses and whether grants are available for them; Newbanks said the Minnesota Department of Employment and Economic Development’s (DEED) Promise programs can permit grants to for-profit businesses and that the foundation will route interested applicants to program staff. “DEED has told us there will be promise grant programs,” he said, and also noted promise loans at about 3% up to 20 years for qualifying small businesses.
Commissioners praised the foundation’s local impact. Commissioner Winter said local small businesses and nonprofits often rely on the foundation’s assistance; Commissioner Blanton commended the foundation for helping rural businesses and supporting multi-generational retention in rural communities.
The foundation invited interested organizations and businesses to contact its office or visit the grants page on its website for program details and application steps.
