Minnesota Funding Round is Now Closed

The Member Impact Fund is a matching grant program that provides funding to strengthen communities in targeted areas. The program encourages partnerships between eligible organizations and member financial institutions to support affordable housing or community development. 

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Award Disbursement and Verification Process

1. FHLB Des Moines will review each application for award eligibility. This review includes, but is not limited to, determining whether the member is in good standing with the Bank such as its financial standing, Community Support review, etc.

2. Eligible awards will be announced on or around May 27, 2025 . All members who submit a Member Impact Fund application will be notified of their award status and match amount.
   If the amount of application requests received exceeds the amount of available funding, the Bank will typically prorate its Member Impact Fund awards accordingly. In this situation, the member will still be required to donate their full member contribution.

3. On or around May 29, 2025, FHLB Des Moines will deposit the Member Impact Fund matching grant directly into an awarded member institution’s demand deposit account (DDA).

4. No later than June 29, 2025, members must provide the full amount of their contribution and the FHLB Des Moines’ matching funds to the grantee.

5. Grantee Award Verification Process:

   • An email will be sent to the grantee on or around June 19, 2025. The email will include award details and a unique link that the grantee will use to verify receipt of the award. If the link does not work, the grantee should close their browser and open in a new browser.

   • The grantee will enter the total award received (this includes both the FHLB match and member contribution) as well as the date they received the award from the member.

   • Once submitted, the grantee will receive an email noting the submission was received. FHLB Des Moines will review the submission and follow-up as necessary with the member.

   • It is the responsibility of the member to ensure the award verifications are completed by the grantee(s) by July 29, 2025.

6. Celebrate! FHLB Des Moines wants to help you amplify your announcement! Connect with Public Relations Manager, Rachel Wegmann to coordinate press releases, social media and pitching stories to media outlets. We have several tools available in our press kit linked below.

Press Kit MaterialsMEMBER IMPACT FUND USER GUIDE

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2026 Member Impact Fund

• Can members submit multiple Member Impact Fund applications for different Grantees?

  Yes. There is no limit to how many applications a member submits. However, there is a maximum member limit per round, see your funding round website for complete details.

• Can a grantee receive multiple Member Impact Fund awards from one or more members?

  Yes. There is no limit to how many awards a grantee may receive.

• Is there a minimum amount of matching funds a member must contribute per application?

  Yes. Members must contribute at least $2,500 per application.

• Is there a maximum amount the FHLB Des Moines will award to one member?

  Yes. Maximum limits are listed on our public website under that specific Member Impact Fund offering's webpage.

• How does a member access the application?

  All member contacts who would like to submit a Member Impact Fund application(s) must have their eAdvantage Administrator grant them access to the Bank’s Voluntary Program module. If you do not know your organization’s eAdvantage Administrator, please contact MemberServices@fhlbdm.com or call 800.544.3452 ext. 2200.

• Is a 3:1 match guaranteed for my application?

  No. The Member Impact Fund is a matching grant program that will offer up to a $3:$1 match for applications. If the amount of application requests received exceeds the amount of available funding, the Bank will typically prorate its Member Impact Fund awards accordingly. In this situation, the member will still be required to donate their full member contribution.

• What factors are considered by FHLB Des Moines when determining application eligibility?

  FHLB Des Moines will review each application to ensure:

  • The grantee is an eligible not-for-profit or government entity.

  • The use of funds supports affordable housing or community development and does not meet the criteria for an ineligible use.

  • The member is in good standing with the Bank such as its financial standing, Community Support review, etc.

  Based upon this review, FHLB Des Moines, at its sole discretion, may approve or reject a Member Impact Fund application.

• What are some examples of eligible uses of funds for each category?

  Affordable Housing:

  - Pre-Development: Land banking, feasibility studies, architecture/engineering, market studies, environmental review, legal fees, permitting/approvals, site preparation costs, etc.

  - New Construction or Acquisition: Hard/soft construction costs such as site acquisition, appraisals, infrastructure, construction materials and labor, permitting and fees, etc.

  - Rehabilitation/Preservation/Climate Resiliency/Adaptive Reuse of a Commercial Property: Hard/soft rehabilitation costs such as site acquisition, appraisals, materials, and labor, permitting and fees, energy efficiency enhancements, seismic upgrades, expansion of broad band, etc.

  - Housing Financial Assistance: Such as rental assistance, down payment and closing costs, mortgage assistance, utility payments, etc.

  - Housing Services: Emergency shelters, resident support services, financial literacy, first-time homebuyer education, etc.

  - Other: Hiring/training staff, technology upgrades, strategic planning, partnership building, etc. 

  Community Development:

  - Community Facilities or Recreation: Acquisition/rehabilitation of community facilities, equipment, recreational programs, etc.

  - Food Security: Purchase, preparation, or delivery of food to underserved areas, etc. 

  - Youth Programs: After-school programs, school readiness, mentoring, etc.

  - Supportive Services: Supportive services for elderly and households experiencing health challenges, domestic violence, substance abuse, child abuse, behavioral health, physical/mental disability, etc.

  - Job Training: Career readiness and counseling, apprenticeship, etc.

  - Small Business: Support for researching and launching/growing small business, business incubators, etc. 

  - Other: Hiring/training staff, technology upgrades, strategic planning, partnership building, etc. 

• Does the Member Impact Fund award have a monitoring requirement?

  Yes, and it is simple:

  Grantees must complete and submit a Verification of Funds and Use Form within two months of the Member Impact Fund award posting to a member’s DDA. It is the responsibility of the member to ensure the grantee completes this form.

• How can I partner with FHLB Des Moines to promote my Member Impact Fund award(s)?

  FHLB Des Moines wants to help amplify your promotion of Member Impact Fund awards! This includes, but is not limited to, social media, news releases, website announcements and check presentation events.

  View our online Press Kit or connect with our Communications Department at communicationsdepartment@fhlbdm.com for more information.