When should a foundation have a grant agreement?

It is always a good policy to have a grant agreement with grant recipients—not for when the grant goes well but, rather, for when it does not. With a grant agreement in place, it is easier to monitor a grant for performance according to the application, to see if anticipated outcomes are achieved, and to receive reports from the grantee. More information and sample grant agreements shared by Exponent Philanthropy members are available here.

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