ARIZONA
MASSACHUSETTS
MICHIGAN
ILLINOIS
Adams Electrical Cooperative (Penny Power)
Millennial Music Teacher
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The mission of the Penny Power program is to support community betterment by providing grants to eligible 501(c)(3) organizations, public educational institutions, and municipalities. Through a thorough review process, the program seeks to assist charitable groups with demonstrated need and impact in Adams Electric’s service area. By encouraging resourcefulness and supporting projects that attract multiple funding sources, the program ensures effective use of funds to benefit the community.
More information about this grant and the application form are both available on the foundation website here!
ELIGIBILITY
501(c)(3) organizations – Charitable groups recognized as tax-exempt under Section 501(c)(3) of the IRS Code
Public educational institutions – Defined under Section 170 of the IRS Code
Municipalities – Local government entities
Non-501(c)(3) organizations with a 501(c)(3) fiscal sponsor – Fiscal sponsor agrees to manage the funds and administrative responsibilities
Location: Adams, Brown, Fulton, Hancock, McDonough, Pike, and Schuyler counties
Project Scope: Eligible projects may range across various charitable activities, including educational, social, and community development initiatives. Projects that secure additional funding sources, show resourcefulness, and align with the community’s needs are prioritized.
FUNDING RESTRICTIONS
The Penny Power grant does not specify a fixed funding amount per grant. Instead, funding amounts are determined based on the needs of each project and the availability of program funds. Projects demonstrating resourcefulness and diversified funding may have a higher likelihood of approval.
APPLICATION COMPONENTS
Completed Application Form: Project details, project purpose, organization requesting the funding.
501(c)(3) IRS Determination Letter: Required for 501(c)(3) applicants to verify tax-exempt status. Non-501(c)(3) applicants must provide a fiscal sponsor's letter.
Fiscal Sponsorship Agreement: For non-501(c)(3) applicants, a signed letter of agreement with a 501(c)(3) sponsor detailing responsibilities and fund management.
Project Budget: Detailed budget of expenses and income, along with other funding source information.
Letters of Support (if applicable): Evidence of community support or collaboration with other organizations to help strengthen the application.
Final Report Commitment: Agreement to submit a report detailing final usage of funding, project outcomes, and adherence to grant guidelines.
DEADLINE
Cycle 1:
- Application Deadline: 1st Monday in January
- Grant Decision/Notification: 3rd Monday in January
Cycle 2:
- Application Deadline: 1st Monday in April
- Grant Decision/Notification: 3rd Monday in April
Cycle 3:
- Application Deadline: 1st Monday in July
- Grant Decision/Notification: 3rd Monday in July
Cycle 4:
- Application Deadline: 1st Monday in October
- Grant Decision/Notification: 3rd Monday in October
REPORTING REQUIREMENTS
Final Grant Report:
Grantees must submit a final report detailing:
- Overall expenses and income for the project (from all sources).
- How grant funds were spent in accordance with the approved budget.
Fund Usage:
Grantees must maintain accurate and up-to-date records of all expenses and income related to the project, as stipulated in the grant agreement.
Reimbursement:
If funds are not used as specified in the agreement, the grantee may need to reimburse Adams Electric Cooperative for any unspent or misallocated funds.
Fiscal Review:
Adams Electric Cooperative may conduct a fiscal review of financial records if deemed appropriate to ensure compliance with the grant terms.
Sponsor Reporting:
If the grantee is working with a fiscal sponsor, the sponsor must submit the required forms and ensure the grantee complies with reporting and financial responsibilities.
EVALUATION CRITERIA
Established Need:
Does the project address a clear and documented community need?
Appropriateness of the Grant:
Is the grant an appropriate funding source for the project, or are there more suitable funding opportunities?
Resources Available:
Are adequate resources available to effectively carry out the project and meet its objectives?
Community Benefit:
Will the project positively impact the surrounding area and contribute to community betterment?
Resourcefulness:
Has the organization demonstrated resourcefulness by attracting multiple funding sources, including self-funding or other grants, to support the project?