When we receive a grant recommendation, we first verify that the intended grantee is a 501(c)3 harity, school, or faith-based institution, and then check if the recipient is bona fide and in good standing and that it meets our due diligence requirements. In order to determine the grantee’s eligibility for funding, the Foundation often reviews the organization’s Form 990, IRS Letter of Determination and Board of Directors listing.
If the Community Foundation has recent due diligence information for the grantee on file, the grant recommendation process will be quicker. Furthermore, if the grant is $25,000 or more, Community Foundation staff must obtain current Community Foundation Board approval for the grant. This is obtained via email vote and takes approximately 24 hours to obtain. If the grant is less than $25,000, then Community Foundation staff has the authority to currently approve the grant without current Board approval.
After all due diligence materials have been confirmed, Community Foundation staff requests the check from the fund custodian and mails it directly to the grantee along with a letter signed by Community Foundation staff requesting that the grantee, among other things, acknowledges their receipt of the grant and confirms that no goods or services were received in exchange for it.
Giving & Investing