Comments
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Our Foundation's policy is to record a grant once we notify the grantee of the award, and that policy is in one of our audit footnotes. Each December, we approve a very large grant that we pay the following year. We want to record it in the year paid, so we don't notify the grantee until the first business day in January.…
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We request the most recent annual balance sheet and income statement, interim statements from most recent quarter, latest 990 if they file, and the latest budget. Applicants use their own format, and upload their documents. They can add text explanations if needed. We’ve had issues getting the appropriate financial…
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Thanks! I'm glad to hear they respond quickly.
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@JenniferBrambley I know this is late, but I have a suggestion: Ask if your bank provides Positive Pay or a similar fraud control service. When you write checks, you load the date, amount, check number and payee into the bank's secure website. The information must exactly match the paper check. If you're using software…
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We are just starting both Foundant and ACH payments, and also question when to obtain the bank information. Has anyone requested the bank info before grants are approved? We're concerned that if we wait until grants are awarded, it will take a while for some organizations to provide the info.
