A Committee of Murfreesboro citizens will review applications for the grantmaking process for charitable contributions in FY25 utilizing proceeds from the sale of the electric department. Carl Montgomery and Karen Lampert are guests in the latest edition of “The Insider.”
Montgomery serves as chair of the Committee on Contributions for the Community Investment Trust and Karen Lampert is grant manager for the City.
Listen to “The Insider” at https://cityofmurfreesborotn.podbean.com/. “The Insider,” the City’s official podcast, is also available for viewing on YouTube https://youtu.be/M6zT9hiA1cc
“Our family has a long history of giving back to our community and I want my children and grandchildren to live by that as well,” said Community Investment Trust Committee on Contributions Chair Carl Montgomery. “The ultimate goal of the Trust is to change the lives of the people that the applicants serve to leave an impact on the City of Murfreesboro and its citizens.”
“The City wanted to make sure the large influx of funds from the sale of the electric utility was done responsibly and with long term benefits of the proceeds to the community,” said Grant Manager Karen Lampert. “A portion of the proceeds has been designated to help City infrastructure projects such as roads and parks, but some funds have been set aside to go to the community through a grantmaking process.”
This edition of Insider with Carl Montgomery and Karen Lampert includes:
- How the Murfreesboro Community Investment Trust was formed following the sale of the City-owned Murfreesboro Electric Utility
- Carl Montgomery’s involvement with the Trust through the Committee on Contributions appointed by the City Council. The Committee selected an online grantmaking software for receiving applications
- The function of the Committee on Contributions in identifying qualified beneficiaries and making recommendations on charitable contributions to the Board of Trustee’s
- The annual grantmaking process of reviewing applications and making recommendations to the Board of Trustees by Feb. 15th each calendar year for approval by the Board and City Council
- The names and backgrounds of citizens who serve on the Committee on Contributions
- The mission and goals of the Committee on Contributions to recommend distribution of funds based on the designated amount from the Trust report on Dec. 31st
- How nonprofit organizations who provide services to the community utilize a grantmaking system, undergo scored evaluation, then receive award notification of funding following City Council vote anticipated in March 2024
The Committee on Contributions accepted applications between Oct. 1-31, 2023, from eligible charitable applicants who submitted requests for charitable grants in FY24-25. The Committee anticipates supporting a range of nonprofit activities and projects from social services, children, education, and homelessness.
Each fiscal year, an Annual Distribution of five (5) percent of the value of the Trust, less fees and expenses, is to be distributed by the Board of Trustees. The Board is authorized to distribute fifteen (15) percent of the Annual Distribution as Charitable Contributions to Qualified Beneficiaries. In FY24-25, the Trust’s assets for charitable distributions are anticipated to be approximately $250,000 to $300,000.
The Charitable Contributions to Qualified Beneficiaries Award Announcement will be made online at www.murfreesborotn.gov by March 31, 2024.
This latest edition of “The Insider” is available via Podbean, Spotify, Apple Podcasts, Amazon Music/Audible and Google Podcasts. Podcasts can be accessed on the City of Murfreesboro’s website. Just click the “Podcast” link on the bottom of the homepage under “Connect With Us” https://cityofmurfreesborotn.podbean.com/ then click the latest episode or listen to previous episodes.
“The Insider,” hosted by Mike Browning, originates from City Hall, and is produced by award-winning producer Michael Nevills.
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For City News online, visit www.Murfreesborotn.gov.