Page 40 - January Report 2025

Page 38 January Report
5. Budget Items
a. Northwest Indian College
The IRS has reinstated the federal tax-exempt status of the Northwest Indian College Foundation.
However, the school itself remains subject to the revocation from November 15, 2023. Bobby
explained that a Zoom meeting had been scheduled, but they were unable to attend. There is a
question about the status of the school’s leadership, especially the Board. Staff questions regarding
whether or not scholarships were awarded to students have gone unanswered. Although JSF
funding does go to the Foundation, Bobby would like to learn more about the leadership, any
scholarships awarded, the solvency of the school and any other legal issues. He recommended
that no funding, for either scholarships or the endowment, be made in 2024 pending further
information.
The Committee approved making no grants to Northwest Indian College in the 2024 calendar
year pending further information.
The 2024 Grant Distribution Plan, the 5-year projections and the 2025 Grant Distribution Plan had
been circulated.
b. 2024 Grant Distribution Plan
The 2024 Grant Distribution Plan as circulated does not include any funding to Northwest Indian
College (NWIC).
The updated Estimated Distribution Requirement of $9,587,542 is the product of a small change
in the valuations of Foundation assets and the fact that the operating expenses are coming in
under budget. There is also $50,000 allocated for Indigenous Special Projects which will not be
used this year. That means the anticipated grants for 2024 are approximately $200,000 shy of the
Estimated Distribution Requirement.
c. 5-year projections
The projections do include endowment funding to NWIC in 2025. All of the Canadian grants were
made in Canadian dollars and are reflected on the projections at 80% in US dollars. In 2024, the
actual conversion rate was closer to 72%.
While noting that the fund availability for grants going forward is increasing, it seems likely that
some of our grantees will face funding shortfalls and be looking to the Foundation for assistance.
d. Approval of Grant Distribution Plans and Projections
The Committee approved the 2024 and 2025 Grant Distribution Plans and the 5-Year Projections
as presented.
6. Discovery Project
Bobby explained that the program consultants and staff felt the concept is viable and a good investment
by the Foundation. A second cohort of Discovery Associates has been engaged. They will be retained
for a 2-year term which starts January 1, 2025. There will be an in-person orientation meeting in Tampa
on January 27th. There will be touch points throughout the two years with $250 quarterly stipends,
sending JSF material, and regular contacts with the consultants.
GRANT PROGRAM COMMITTEE MINUTES (DRAFT) (2)