Endowment Policy

Massena Telephone Company
Endowment Fund
Application Process

Massena Telephone Company has an endowment fund, which will allow MTC to support projects
within the communities we serve. This document is intended to describe the process which
applicants should use when requesting funds from the endowment fund. This process will be
effective beginning with the application process for November 2016. This policy was approved by
the MTC Board of Directors on November 11, 2014.

The Board of Directors will have final decision on how funds will be distributed. The board will make
the decision at the November board meeting each year. The board may choose to fund one project or
split the available funds among multiple applicants. The amount of the endowment available is
variable, and depends on the performance of the endowment’s investments. Massena Telephone
Company may choose not to distribute all or part of the endowment any time.

Applicants should submit a letter describing the project. Please include the name of the organization
requesting funds, what the funds will be used for, and who will benefit from the project. Also please
include the projected start date and projected completion date of the project. Please provide as much
detail about the project as is reasonable. Also please include the names of people who will be
responsible for carrying out the project.

Letters of application should be submitted by US Mail and postmarked before November 1st in the
year the applicant wishes to be considered. Send applications to Massena Telephone Company
Endowment Applications, PO Box 36, Massena, IA 50853.

Preference will be given to organizations within the exchange boundaries of Massena Telephone
Company that will provide a benefit to the citizens of our communities. Applicants must be a 503c
non-profit entity.

The beneficiary of the endowment shall keep records of all monies spent, including receipts,
cancelled checks, and invoices, and produce such records upon request of the board of directors of
Massena Telephone Company.

Please call the Massena Telephone Company office at 712-779-2227 with any questions.

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