The Community Foundation of the Ozarks understands the unprecedented impact that the pandemic has had on the nonprofit sector. We also recognize different sectors have been affected differently. This program focuses on nonprofit agencies with missions that weren’t emphasized in our earlier COVID-related grant rounds.
Frequently Asked Questions
How much is available in total? The CFO board has committed reserves to fund this program totaling $1,250,000. These are not traditional grant dollars, but funds that will need to be replenished for the long-term benefit of our own financial stability.
What happens if we cannot pay the investment back? We will work in every way to come up with a payment plan to help you repay the investment. We expect the investment to be paid in full at maturity, but also know there could be extenuating circumstances preventing repayment in full at maturity. Should you be unable or unwilling to repay the investment, you will be ineligible for any further CFO grants for a period of five years.
Will we be required to pledge collateral? No, this will be an unsecured loan.
Will we be required to make monthly payments? No. This is a flexible investment, and you can make payments along the way, or repay in total at maturity. Interest payments are required semi-annually.
Can we repay the investment early? Absolutely! There is no prepayment penalty.
We do not fall into these categories. Why can’t we apply? We have a limited amount of resources, and know there will be a strong demand for them due to these unprecedented times. We are focusing on those nonprofit types that have not been eligible for our COVID-related grants because they were not immediate responders to the crisis caused by the pandemic, but we recognize are important to the quality of life in our region.
We have a smaller nonprofit that doesn’t meet revenue-eligibility guidelines. Why were we excluded? See question 6. We are trying to balance our resources and use them in the most effective and efficient way. Smaller nonprofits may have access to their more-limited needs through their own donors.
Who makes the investment decisions? The CFO’s Mission-Related Investment committee has been considering grant applications in the traditional MRI program for more than a decade. These community volunteers are well-versed in considering the needs of nonprofits and balancing the associated risks to the CFO.
When are the applications due, and when will decisions be made? Applications are due Jan. 15, 2021, and applicants will be notified by Feb. 5.
What if I have additional questions? Brian Fogle is the contact for the program. For technical questions regarding the application system, contact Krista Moncado.