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Millstone Fund

Annual Giving
$6.3M
Grant Range
$10K - $0.5M
Decision Time
4mo

Millstone Fund

Quick Stats

  • Annual Giving: $6.3M (2024)
  • Total Assets: $160.7M
  • Success Rate: Not publicly disclosed (competitive process)
  • Decision Time: 2-4 months from LOI deadline
  • Grant Range: $10,000 - $500,000
  • Typical Grant: $20,000 - $30,000 (unsolicited operating/program support)
  • Geographic Focus: Greater Cincinnati region

Contact Details

Address: PO Box 43575, Cincinnati, OH 45243
Email: info@millstonefund.org
Website: millstonefund.org
Grants and Partnerships Lead: Elle Folger, efolger@millstonefund.org

Overview

The Millstone Fund is a private family foundation established in 2019 by Jeremy F. Simpson, a Cincinnati business leader who spent his career leading Rotex, a company with roots tracing back to the Straub Mill Company from the 1800s. Simpson passed away in December 2020 at age 88, but spent his final decade working with the board to create a lasting philanthropic legacy. The fund's name symbolizes his industrial heritage, with the millstone representing "community strength and the foundation for opportunity." With assets of $160.7 million and annual giving of approximately $6.3 million, the foundation strives to secure a better future for Greater Cincinnati within three pillars: health, education, and the arts. The fund awarded 86 grants in 2024, supporting established nonprofit organizations with deep commitments to improving the populations they serve. The foundation emphasizes equity, innovation, and collaborative partnerships to create a more vibrant community where all people thrive.

Funding Priorities

Grant Programs

Biannual Grant Cycles (March and September awards)

  • LOI Deadlines: October 1 and April 1
  • Application Deadlines: December 15 and June 15 (by invitation only)
  • Typical Range: $10,000 - $50,000 for unsolicited requests
  • Average Grant: $20,000 - $30,000 for unsolicited operating/program support
  • Larger Grants: Requests exceeding $50,000 require prior staff communication and approval
  • Multi-Year Awards: By invitation only or through specific Request for Applications (RFA)

Recent Grant Examples (2025):

  • CityLink Center: $500,000 for Next Level Campus Expansion
  • Family Nurturing Center of Kentucky: $300,000 for Nurturing Hope Campaign
  • Strategies to End Homelessness: $300,000 for Data Analytics and Proactive Services
  • Multiple grants ranging from $22,500 to $300,000 across health, education, and arts sectors

Types of Support:

  • Capacity Building (strengthening organizational mission)
  • Capital (facilities, equipment, technology)
  • General Operating Support (unrestricted funding)
  • Project/Program Funding
  • Innovation Seed Funding

Priority Areas

Health - "To achieve health and wellness, particularly psychological/mental health and well-being, for people in Greater Cincinnati"

  • Prevention and treatment of mental illness
  • Access to mental, behavioral, and developmental health services
  • Reducing adverse health outcomes
  • Developing healthier communities and families
  • Promoting healthy behaviors and child development
  • Preventing mental health crises
  • Innovative mental health approaches
  • Recognition of basic needs (housing, food, safety) as critical to health
  • Efforts considering social drivers of health

Education - "To support, build, and sustain educational opportunities across Greater Cincinnati"

  • Intervention and enrichment programs
  • Enhancing educational best practices
  • Increasing educational opportunities for limited-access populations
  • Pre-K, K-12, and adult learners
  • Vocational and technical education programs
  • Non-traditional educational programs
  • Addressing educational outcome gaps
  • Professional development for educators and social service providers
  • Resources like books, technology, and learning experiences
  • Support for children and adults with learning disabilities

Arts - "Foster engagement, learning and appreciation of high-quality artistic experiences for all people in Greater Cincinnati"

  • Expanded access to arts and culture for local communities
  • Arts and education offerings (Pre-K to post-secondary)
  • Inclusive artistic opportunities representative of Greater Cincinnati
  • Access to artistic opportunities for under-resourced communities
  • Removing barriers through integrated art experiences
  • Student creativity and professional opportunities
  • Both performing and visual arts
  • Note: Not focused on producing/preserving artwork; prioritize creating pathways to artistic opportunities

Cross-Cutting Priorities:

  • Priority given to organizations demonstrating ability to create a more equitable community
  • Preference for projects addressing multiple focus areas
  • Support for organizations that generate opportunities for those in need
  • Emphasis on mental health, youth support, and community resilience
  • Innovative approaches that advance community wellness

What They Don't Fund

  • Religious organizations
  • Endowments
  • Animal-focused causes
  • Organizations outside the United States
  • Political campaigns
  • Individual loans
  • Debt reduction

Governance and Leadership

Board of Directors:

  • Alonzo Folger, IV - Director & President/Chair
  • Valerie Folger - Director & Treasurer
  • Carly Chu, Esq. - Director

Staff:

  • Ted - Executive Director: Leads operational strategy, experienced in health research and program evaluation, oversees administrative functions
  • Elle - Grants and Partnerships Lead: Manages grantee partnerships, background in education, focuses on supporting children and families
  • Corrie - Communications: Manages community website interactions, fosters grantee relationships, specializes in storytelling and grant communication

The leadership team has deep roots in the Cincinnati area and is committed to carrying forward Jeremy F. Simpson's legacy of providing "opportunities for a healthy life, quality education, and access to beautiful forms of art" in the Greater Cincinnati region.

Application Process & Timeline

How to Apply

Two-Stage Process:

  1. Letter of Inquiry (LOI) - First Stage

    • Submit LOI by deadlines: October 1 (for March awards) or April 1 (for September awards)
    • Review Committee evaluates all LOIs
    • Organizations invited to submit full applications are notified of next steps

  2. Full Application - By Invitation Only

    • Only organizations invited after LOI review complete full applications
    • Application deadlines: December 15 (for March awards) or June 15 (for September awards)
    • Grants awarded in March and September

Before Submitting:

  • Review priorities in health, education, and arts on the website
  • Requests should reflect how programming aligns with Millstone Fund mission and priorities
  • For requests exceeding $50,000, contact staff for communication and approval before submitting LOI
  • Contact Elle Folger (efolger@millstonefund.org) with questions about application process, eligibility, or organizational alignment

Key Application Guidelines:

  • Unsolicited requests for organizations new to Millstone Fund should not exceed $50,000
  • Operating/program support requests (unless approved by board) should not exceed $50,000
  • If awarded, unsolicited operating/program support averages $20,000-$30,000
  • Innovative ideas welcomed and encouraged—discuss with staff before submitting LOI

Decision Timeline

  • LOI Deadline to Invitation: Approximately 2 months (e.g., October 1 LOI → December 15 application deadline)
  • Application Deadline to Award Decision: Approximately 2-3 months (e.g., December 15 application → March award)
  • Total Timeline: 4-5 months from LOI submission to grant award decision
  • Organizations invited to submit full applications are notified of next steps by the Review Committee

Success Rates

The foundation acknowledges that "these awards require a competitive review process" and "due to limited grantmaking funds, some well-aligned requests may not be awarded." Specific acceptance rates are not publicly disclosed.

Recent Grant Volume:

  • 2024: 86 awards
  • 2023: 41 awards
  • 2022: 15 awards
  • 2021: 12 awards

The increasing number of awards suggests growing grantmaking capacity, though the competitiveness remains significant.

Reapplication Policy

For Previously Funded Organizations:

  • Must complete full grant period, including evaluation follow-up report, before submitting another LOI for the same need
  • Organizations typically will not receive funding for the same need at a frequency less than every two years
  • This policy applies to funding for the "same need"—organizations may apply for different projects during this period

For Unsuccessful Applicants:

  • No specific waiting period mentioned for organizations whose LOIs or applications were not invited/awarded
  • Contact Elle Folger for guidance on reapplication timing and approach

Application Success Factors

Alignment is Critical: The foundation explicitly states: "Before submitting an LOI or reaching out to the Grants Director, please review our priorities in health, education, and arts." Applications should clearly demonstrate alignment with one or more of the three pillars and the foundation's specific goals within each area.

Equity as a Priority: "Priority is given to those organizations who demonstrate their ability to create a more equitable community." Applications should articulate how the proposed work addresses equity gaps and creates opportunities for underserved populations.

Multi-Focus Projects Preferred: The foundation shows preference for "requests addressing multiple focus areas." For example, arts education programs that improve academic outcomes and mental health, or health initiatives that incorporate educational components.

Innovation is Welcomed: The foundation explicitly states it "welcomes innovative ideas and encourages discussion with staff before submitting LOIs for such projects." They offer Innovation Seed Funding as a specific support type.

Collaboration Matters: The foundation's goals include "facilitate cross-organizational collaboration" and "collaborate with other funders." Applications that demonstrate partnerships or collaborative approaches may have an advantage.

Strategic Investments: The foundation's vision is "to be a philanthropic leader in making strategic investments" and they seek projects that "lead to improvement, drive innovation, expand capabilities, increase availability of impactful services and resources."

Demonstrated Impact: The foundation commits to "use data to evaluate impact." Applications should include clear metrics and evaluation plans demonstrating how success will be measured.

Organizational Capacity: The foundation seeks "organizations with deep commitments to improving the populations they serve" and preferences "organizations with established history of success" and "clear long-term sustainability plans."

Mental Health Focus: Within health funding, there's particular emphasis on "psychological/mental health and well-being." Projects addressing mental health prevention, treatment, or crisis intervention align strongly with current priorities.

Under-Resourced Communities: Particularly in arts, the foundation emphasizes "improving access for under-resourced communities" and "removing barriers" to participation.

Right-Sizing Grant Requests: For organizations new to the foundation or requesting operating support, keeping requests at or below $50,000 increases likelihood of consideration. The foundation explicitly notes that unsolicited requests exceeding this amount require prior staff approval.

Pre-Application Communication: The foundation encourages contact with Elle Folger before submitting, particularly for innovative projects or larger requests. This suggests that relationship-building and early dialogue are valued.

Key Takeaways for Grant Writers

  • Start with the LOI: All applications begin with a Letter of Inquiry; full applications are by invitation only. Invest time in a compelling LOI that clearly demonstrates alignment with health, education, or arts priorities.

  • Emphasize Equity: This is explicitly stated as a priority criterion. Articulate how your work creates a more equitable community and serves under-resourced populations.

  • Think Holistically: Applications addressing multiple pillars (e.g., arts education, health-focused educational programs) may have competitive advantage given the foundation's stated preferences.

  • Right-Size Your Request: For first-time or unsolicited operating support requests, stay at or below $50,000. Average awards in these categories are $20,000-$30,000. Contact staff before requesting more.

  • Plan for the Long Cycle: From LOI to award decision is 4-5 months. Plan organizational cash flow accordingly and apply in the cycle that aligns with your project timeline.

  • Build the Relationship: The foundation encourages pre-application contact with Elle Folger. Use this opportunity to discuss fit and get feedback before investing in a formal application.

  • Connect to the Legacy: The foundation honors Jeremy F. Simpson's philosophy of "doing good turns for others" and his passion for community strength. Applications that resonate with these values and Cincinnati's industrial heritage may connect with decision-makers.

References

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