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. If the grantee does not use the grant funds for proper purposes, it is far easier to rescind the grant and recover the funds if a written grant agreement exists and was violated.

Read more and download sample grant award letters and grant agreements >>

 

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