Larchwood, Iowa — Over $650,000 will be given to 26 non-profit projects by the Lyon County Riverboat Foundation at a ceremony this Tuesday evening at Grand Falls Casino west of Larchwood.
According to the foundation’s Executive Assistant, Dave Childress, over $1.7 million was requested by 35 applicants.
The foundation is the non-profit license holder for the Grand Falls Casino. State law mandates a certain percentage of the casino’s gaming take has to go back to the community. The agreement between the casino and the non-profit stipulates that for the first $20 million the casino collects in gambling winnings in a year, they will give the foundation 4.5 percent. When they get up to $20 million, the percentage goes up to 4.75 percent; and when they get up to $30 million, it goes to 5 percent.
The Lyon County Riverboat Foundation is set up to give half of the money in grants to county government subdivisions and schools, and the other half to non-profit projects.
Riverboat Foundation officials tell us the foundation seeks to be the catalyst to help qualified organizations meet needs within Lyon County and beyond in the areas of development, beautification, education, and human and social issues.
The foundation has also announced that they are accepting applications for the next round of grants, which will their annual “Mini-Grant” cycle. They tell us Mini-Grants are available to non-profit organizations that would like to do a special project in the geographical areas surrounding the Grand Falls Casino and Golf Resort. Out-of-county and out-of-state applicants are eligible. Unlike the bigger grants, no matching funds are required. Applications for Mini-Grants are due by 2:00 p.m. on Thursday, March 25, 2021. The Mini-Grant ceremony is scheduled for Monday, April 19, 2021.
Click here for applications and more information about the Mini-Grants.
