BEC service area school and non-profit organization educational program funding
Beartooth Electric Cooperative (BEC) announces the launch of its expanded Unclaimed Capital Credit programs. The UCC Grant program allows BEC service area schools and non-profit organizations to apply for educational program funding in addition to the cooperative’s long-standing funding of BEC’s annual Leadership Scholarship and Washington D.C. Youth Tour programs.
“The Board approved new versions of Policy FP305 – Financial Management, Policy FP306 – Retirement of Capital Credits, and MR414 – Unclaimed Capital Credits. These updated policies resulted from many months of study and discussion by the Finance Committee, Policy Committee, and Board,” stated Board Vice President Bill Pascoe. “BEC has more than 100 policies, each reviewed every 2 or 3 years by the Policy Committee. But, in addition to the regular review schedule, now was a very good time to look at these particular policies because BEC has rebuilt its financial strength over the last several years. So, we are now in a position to move forward from a solid base.”
“Beartooth Electric embodies the cooperative principle of concern for community,” said Kevin P. Owens, PE. “Through BEC’s UCC Grant Program, we believe BEC will provide a helping hand to the schools and non-profit organizations in our service area in need and support their programs to help our rural communities grow and thrive through educational programs.”
BEC’s UCC Grant Program is funded through BEC Member Unclaimed Capital Credits. The use of Unclaimed Capital Credits is defined in Montana Code Annotated 35-18-316 (8). A cooperative shall, upon the action of the Board of trustees, retain retirements of patronage capital allocated to its members that remain unclaimed for five years after the end of the year in which the retirement is made. Unclaimed retirements retained by the cooperative must be used for educational purposes. BEC’s UCC Grant Program annual funding will be based on the available unclaimed capital credit balance.
“The BEC Board of Trustees is proud to expand the BEC UCC Grant Program to our service area schools and non-profit organizations,” said Board President Jim Neu. “Our Members, schools, and local non-profit organizations often know best where funding can most effectively be provided to benefit the BEC service area.” Neu concluded, “To all of our UCC Grant Program participants now and in the future, thank you for making a difference in our service area and allowing BEC to be your partner in these efforts.”
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Complete the downloadable pdf and email it to email@example.com, mail it to Beartooth Electric Cooperative, Inc. PO Box 1110, Red Lodge, MT 59068, drop it off at the Red Lodge office, 1306 N Broadway Ave, or complete the online form below. Good Luck!