Does your Organization provide Long Term or Multi-Year Grants?
What do you consider a long-term grant?
What are some workflows that work for managing these in GLM?
We manage our multi-year grants similar to our one-year grants, we just add installments in GLM that are tied to the Annual Grant Report. My only complaint is that in the GLM/CSuite integration the total amount of the grant is removed from the fund total when you initially post the grant, instead of taking the installment amounts out of the fund each time they are posted. With the SLM/CSuite integration I'm able to choose "post-by-payment" so I can decide if I want the total grant removed from the fund balance right away, or if I'd rather have each installment removed from the fund balance each year. I've added this in Idea Lab here:
We provide multi-year grants that are between 2-5 years. We add installments in GLM and require an interim follow-up report before each installment is paid. Grantees need to meet certain conditions before the next installment payment will be sent. We meet with them to verify that they have met any conditions for the installment and that information about the grant has not changed since they received the first installment. They must demonstrate sufficient progress on the grant. If found satisfactory, the next installment payment will be released.
We have had multi-year grants that did not meet the requirements and future installments were canceled. I was very happy when Foundant created the option to cancel installments but leave the original amount awarded.