Submitting grants to board for approval
Our board allows staff to approve grants $5,000 or below as long as due diligence has been completed. Our grant committee approves anything above $5,000 via DocuSign. We currently submit an exhaustive list of all grants processed from donor advised funds, designated funds, scholarships, expense to fund, etc., regardless of the amount, to the board at our quarterly meeting, for board approval. We have completed this historically as a best practice as suggested from National Standards. We would love to know if other community foundations boards are approving EVERY grant, which is usually after the grant has been processed, or if you have a better process in place that you wouldn't mind sharing. We have thought about just a summary sheet by type of fund, or by grantee, but want to make sure we are keeping our board members informed, as well as meeting needs for accreditation. Just curious what others are doing.