If you’re selected to receive a grant award of $50,000 or more, we’re required to complete a pre-award risk assessment (Policy 08-06: Policy on Pre-Award Risk Assessment for Potential Grantees (PDF)).
Based on your entity type, we’ll ask for the information listed below.
If we determine there are substantial risks to you meeting the requirements of the grant contract agreement, we may:
- Request more information to satisfy our concerns.
- Develop a risk mitigation plan to protect the interests of the state.
- Not award the grant.
Contact us if you have questions.
For-profit businesses
If you’re a for-profit business, you must submit:
- A copy of your business’ most recent federal and state tax returns.
- If the business has not been in operation long enough to have a tax return, then you must submit documentation of your internal controls.
- Current financial statements, including a balance sheet, income statement, and statement of cashflows.
- Confirmation that your business entity is not under bankruptcy proceedings and you've disclosed any liens on assets.
- Confirmation that your business is in good standing with the Office of the Secretary of State.
- Confirmation that none of your current board members or staff with authority to access grant funds have been convicted of a felony financial crime in the last 10 years.
Nonprofit organizations
If you’re a nonprofit organization, you must submit:
- A copy of your nonprofit’s most recent Form 990 or Form 990-EZ with the Internal Revenue Service. If the nonprofit has not been in existence long enough or is not required to file Form 990 or Form 990-EZ, then you must submit the following information:
- Proof of your tax-exempt status
- Most recent board-reviewed financial statements
- Documentation of your internal controls
- Your most recent certified financial audit if you’re required to complete one (MINN. STAT. 309.53, Subd. 3).
- Confirmation that your nonprofit is in good standing with the Office of the Secretary of State.
- Confirmation that none of your current board members or staff with authority to access grant funds have been convicted of a felony financial crime in the last 10 years.
Political subdivisions
If you’re a political subdivision authorized to enter into grant contracts (e.g., county, town, city, school district, or another municipal corporation), you must submit:
- Confirmation that no current public officials, board members, or staff with authority to access grant funds have been convicted of a felony financial crime in the last 10 years.
Individuals
If you’re an individual, you must submit:
- Confirmation that you have not been convicted of a felony financial crime in the last 10 years.
