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Posted on: February 9, 2024

Community Investment Trust Funding Recipients Selected

Community Investment Trust

The Murfreesboro City Council voted Thursday, February 8 to approve the Community Investment Trust funding of qualified charitable organizations in FY25. $364,950, the amount available for distribution under the Trust agreement in FY25, will be distributed to twenty-nine (29) charitable organizations.

Click here to view the list of recipients.

On Thursday February 8, the City Council approved the Community Investment Trust (CIT) Board of Trustees January 24, recommendations for funding approval from the Committee on Contributions. The Trust Agreement stipulates the Committee make recommendations to the Board by February 15 each year. 

“It’s very exciting to see the benefits of our decision to sell the City’s electric utility and the hard work to develop a Community Investment Trust coming to fruition,” said Mayor Shane McFarland. “On behalf of the City Council I want to thank the members of the Board of Trustees and Committee on Contributions for their dedication to this effort benefiting our community.” 

The Committee on Contributions conducted a thorough and objective review and scoring process on each applicant and presented their recommendations for funding to the CIT Board of Trustees approval at the end of January. A final approval of recommended funding was provided by the City Council in February.  

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 totaled $364,950. 

The Murfreesboro Community Investment Trust was established in 2021 from the proceeds of the sale of the City-owned utility, Murfreesboro Electric Department, to Middle Tennessee Electric Cooperative. 

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