FAQ's
1. What is the MSC Fund?
The MSC Fund was established in 2004 as an endowment fund of the Cooperative Development Foundation. Formerly the Mutual Service Fund of the MSI Insurance Foundation, the Fund has been in operation for over thirty years and has awarded more than $1 million in grants to the cooperative community. The purpose of the Fund is to support the growth and development of cooperative enterprises and organizations, with a particular focus in the agribusiness arena. The MSC Fund awards annual grants in two areas: General and Scholarship.
2. What is a General Grant?
General grants are projects that are “programmatic†in nature. Fundable projects should address one or more of the following objectives: (a) increase public understanding of cooperatives and the role they play in the economy; (b) produce new information about emerging issues and opportunities in the cooperative community; (c) educate current or future cooperative leaders; (d) assist new or growing cooperative enterprises or nonprofit organizations engaged in cooperative development; or (e) develop or implement “leading edge†projects where seed money is needed to establish credentials for alternative future funding.
3. Who can Apply for General Grants?
Any cooperative or cooperative-related organization may apply for a grant. Other organizations can also apply for a general grant if the intended grant purpose is restricted to charitable purposes, or research or education on a topic related to the cooperative field.
4. What do Scholarship Grants Underwrite?
Scholarship grants underwrite tuition, registration and other costs related to the education or training of current and future cooperative leaders. Fees for workshops, conferences and continuing education courses are examples of the types of scholarship grants awarded. The MSC Fund does not award full tuition scholarships to four-year colleges or for post-graduate work.
5. What is the Typical Grant Size?
General Grants awarded have ranged from $2,590 to $48,000.
6. How do I Apply?
The MSC Fund utilizes a standardized application format for both general and scholarship grants. Online submission of applications is preferred. However, application forms are available in both pdf and Microsoft Word formats to accommodate the technical capacities of all applicants. Supporting documentation for general grant applications (audited financial statements, etc.) can either be submitted electronically or mailed.
7. When are Applications Due?
Grants are awarded annually in the fall. All applications and supporting documentation –for both General Grants and Scholarships – must be received no later than 5 p.m. (EDT) on August 6th, 2010. Applications or supporting documentation received after that date will not be considered for funding.
8. When are Grants Awarded?
The MSC Fund Board of Trustees meets in August to review eligible grant applications and determine grant awards. Organizations and individuals selected to receive grants will be notified by mid-September of their awards.
9. What Other Requirements Should I be Aware of?
The MSC Fund has recently transitioned to a formal outcomes reporting process. All organizations and individuals receiving grants from the foundation will be required to monitor and evaluate their outcomes and submit a final report detailing the results and financial allocations of the work funded. Grantees will be required to use the Fund’s outcomes progress report format that will be linked to the objectives, activities, outcomes and budget they submitted in their grant application. Potential grantees who are unable or unwilling to evaluate and report the outcomes they achieve with MSC Fund awards should not apply for funding.
