Applicant Update: Oct 11th, 2024
Hello friend!
As you proceed through the MN PROMISE Act Grant process, we want to ensure that you have all the necessary information to help avoid any delays. We have been getting questions about a few parts of the application process that we want to address again.
1. Voided Check Requirement: If selected for an award, a voided check from a business checking account will be required, and funds will be distributed electronically. Due to the high volume of applications, and after consulting with experts in fraud and financial security, we have determined that this is the best course of action to mitigate potential fraud and ensure the proper use of state and taxpayer dollars. We are unable to make exceptions to this requirement.
2. Award Amount Calculation: Your potential award amount will be based on the SECOND year of submitted tax returns. Your first year of tax returns determined overall eligibility for the grant program.
While we have communicated both of the above points through our weekly email updates, and this is outlined on our website (on the Applicant Preparation page, and in our Frequently Asked Questions, and the Award Calculation page, we wanted to clarify this again for your reference.
3. Authorization Stage: As communicated in the email requesting additional documents, being in the authorization stage does not guarantee an award. That means, after being asked to complete authorization and award documents, it may be determined that you are not receiving an award. All applications and supporting documents are carefully reviewed again, and final award determinations are based on applicant preference (according to the law), the number of applications in your geographic area, and randomization of selected, preferential applicants.
4. Schedule C Submission: As part of the application process, applicants who submitted multiple Schedule C's were asked to choose and submit only one Schedule C if they operate related businesses. This guidance ensures that each applicant is considered for a single grant, as awards are allocated per individual, not per business entity.
Related Businesses: If you're a freelance writer working with different publications, you can file them together under a single Schedule C because they fall under the same business activity.
Unrelated Business: However, if you have unrelated businesses, like a freelance writing service and a retail shop, these should each have their own Schedule C.
If you're a sole proprietor or a single-member LLC, please ensure that you submit only one Schedule C for related businesses. If you filed your taxes in such a way that you have related business revenue on separate Schedule Cs, we are unable to use the combined revenue to determine your award amount, and we cannot select which business we should use for your application. Please carefully consider and consolidate as appropriate. For more details, here is a helpful article on filling multiple businesses under one Schedule C.
Timelines for Upcoming Deadlines:
Wednesday, October 16: Please submit all changes requested for your application by this date.
Wednesday, October 23: This is the last day you will hear from our team about any additional changes that may be needed for your application.
Monday, October 28 at 12 p.m. Central Time: Final applicant deadline. By this date, applicants should submit all requested changes for the final review.
Thank you for your attention to these details, and we appreciate your continued engagement with the MN PROMISE Act Grant program.
Many thanks,
MN PROMISE Act Team