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20 <br />Of note: Feedback from businesses noted the short turn-around time for a decision and the timing of the request for <br />funds as challenges considering many are at the end of their fiscal year and have already spent down funds for charitable <br />organizations. <br />Fundraising from Individuals: <br />Developed donor levels for individuals and promoted donation opportunities via the HSHC website, and the Old Forest <br />Lake and Hopkins Schoolhouse and Heritage Center Facebook pages. <br />Donations 2/1/2022-10/1/2022: $1,480 <br />Donations since 10/1: $1,917.97 <br />Pledge: $5,000 ($1000/year for 5 years) <br />TOTAL donated/pledged as of 1/31/2023: $8,197.97 <br />Fundraising from Granting Institutions: <br />In progress: matrix detailing prospective granting organizations, funding potential, application requirements, <br />and submission deadlines for 2023. <br />Submitted three grant applications to local funders: <br />o Forest Lake Lions Club Community Organization Investment Program. Application amount: $10,000. <br />This grant was awarded in the amount of $1,200. <br />o MidwestOne Bank Foundation. Application amount: Unspecified – sponsor levels provided. This <br />proposal was not funded. The Steering Committee was encouraged to reapply. <br />o Connexus Energy. Application amount: $25,000. The initial grant request was declined because the <br />company’s focus areas for charitable giving are food and housing support for individuals. However, the <br />group was encouraged to submit a revised request for a lower amount and in-kind services that could be <br />funded out of other budgets to support the project. Preparation for the second grant is in progress. <br />Business Planning: <br />Drafted articles of incorporation and bylaws for new nonprofit <br />Decided on initial board members and officers for the new nonprofit <br />Secured letter of commitment from University of St Catherine for an MBA capstone team to assist with business <br />planning during summer of 2023 <br />In progress: preliminary business plan sufficient to proceed with the IRS application for exempt status <br />In progress: review of national registry details to determine whether to proceed with the application process.