Lake Country Power’s board of directors recently approved a new grant program where local school districts may apply for grants up to $100,000 through “unclaimed capital credit” funds. The Education Improvement Program (EIP) was created with a focus on area school districts seeking assistance toward projects and programs that will benefit students and communities.
“The State of Minnesota allows electric cooperatives to keep the unclaimed funds local for use toward educational purposes after several years of trying to locate former co-op members with their capital credit refunds,” said Greg Schulzetenberg, manager of community relations and marketing. “The unclaimed property is allowed for use at the cooperative’s discretion if the intent meets State criteria.”
November 30 is the application deadline. After this date, the cooperative’s board will determine which projects require further consideration and may request in-person presentations as needed. The board will then meet for discussion and an approval process. Grants will be awarded the following spring or summer.
Grants are intended to be awarded for projects and programs that improve the educational experience for local students and won’t be awarded for advertising, individuals, fundraisers, or ongoing operational expenses.
For more information and to apply, visit www.lakecountrypower.coop/education-improvement-program-grant. Applications should come from school district administration, not individual schools. Repeat awards to districts in following years will be at the discretion of the cooperative’s board of directors.
“Lake Country Power is making every effort possible to keep any unclaimed capital credit funds local to benefit the communities and schools within the cooperative’s service area,” added Schulzetenberg. “This is the launch of a great, new program that will provide positive impacts for years to come.”