MURFREESBORO, Tenn. — The Murfreesboro Community Investment Trust Committee on Contributions is set to meet next week. During a meeting held this past November, the committee revealed that as of November 1, 2024, the trust fund had a balance of approximately $66 million, allowing for an estimated spending of at least $500,000, an increase from the previous year.

Each year, eligible organizations providing beneficial services to the City of Murfreesboro can apply for funding, with grant amounts reaching up to $65,000 for the 2025 Fiscal Year. Recipients will be required to submit both a mid-year and final report to ensure accountability. But it’s important to note that trust funds cannot be utilized for activities outside of Murfreesboro city limits.

The Murfreesboro Community Investment Trust was first established in 2021 from the proceeds of the sale of the City-owned utility, Murfreesboro Electric Department, to Middle Tennessee Electric Cooperative (MTEMC or MTE). The City sold its electric distribution system operations and assets to MTE for $245 million with $43 million paid at closing and annual installments of $17,290,134 paid over a 15-year period with interest, totaling nearly $302.4 million. City Council determined a portion of the initial $43 million payment, and the incremental payments will be retained by the City through 2029 to be allocated to the City’s general fund to critical roadway and parks projects.

Each fiscal year, an Annual Distribution of five (5) percent of the value of the Trust, less fees and expenses, is to be distributed by the Board of Trustees. The Board is authorized to distribute fifteen (15) percent of the Annual Distribution as Charitable Contributions to Qualified Beneficiaries.

As always, trust officials encourage local nonprofit charitable organizations to apply for their annual Community Grant. Nonprofits have a one-month window each year, from October 1 to October 31, to submit grant applications for projects that occur during the fiscal year spanning July 1 to June 30. Award announcements are expected to be made in March of the application year.

The upcoming meeting, scheduled for 1:30 p.m. on Tuesday, January 21, 2025, at the Municipal Airport Business Center Community Room, will involve discussions on various topics, including the Fiscal Year 2026 recommendation to the board and the evaluation process. Eligible charitable organizations are invited to submit requests for grants during the application window of October 1-31, 2024. The Charitable Contributions to Qualified Beneficiaries Award Announcement will be made available online by March 31, 2025. Individuals wishing to provide public comment on actionable items must sign up at least six hours prior to the meeting. More information can be found at the Murfreesboro Community Investment Trust's website.

• Meeting: Tuesday, Jan. 21, 2025, at the Municipal Airport Business Center Community Room, 1930 Memorial Blvd.
• Public Comment: The Public Comment on Actionable Items: Individuals wishing to speak at a public meeting on “actionable items” must sign up at least six hours prior to the meeting start time by submitting your request online at https://www.murfreesborotn.gov/PublicCommentForm or by calling 615-849-2629. 
• More Details: For more information on the Community Investment Trust Committee on Contributions, visit https://www.murfreesborotn.gov/2562/Community-Grant-Application.