Electronic Grant Payments Transition

We are considering transitioning at least a portion of our grant payments from checks to EFT's.

For those who have converted, please share any tips/lessons learned.

What is your process for collecting bank account information from grantees?

Thanks in advance!

Comments

  • Thanks for asking this question. We are trying to figure this out, too. Would be very grateful for any advice from the community! 😀

    KaraAdams
  • I'm not sure this is the best way to do it but it's how we do it. I'll be interested to see what others do!!

    1. We do NOT collect any personal information in Foundant (otherwise I'd make a report form with each field and have them submit it).
    2. As an agency of the state of Montana we are "strongly encouraged" to use eft so this language isn't very optional... although we can always do a paper check if we need it.

    The following text is included in

    the email notification (template in Foundant):

    Your {{Process.Name}} grant request has been recommended for funding. I am pleased to share that this application has met the criteria and is offered a {{Request.AmountAwarded}} award. The demand for CARES Act relief funding has been great, and MAC is proud that we can be responsive to the needs presented. Please log in to your account at art.mt.gov/application to view your approval letter, contract, and to access the required documents listed below.

    MAC requires the following be completed in order to process your award, please complete these steps at your earliest convenience:

    • Submit the "CARES Individuals Agreement + Payment Request" form. This is located in the "Follow Ups" section of the User Dashboard at art.mt.gov/application. Detailed instructions for filling out this form are attached. 
    • Email the Montana Arts Council ([email protected]) with completed and accurate copies of the attached W-9 and 204-EFT forms. Payments must be made to individual applicants; payments cannot be made to LLC's. Financial materials may also be submitted by fax to (406) 444-6548, or by postal mail to Montana Arts Council, PO Box 202201, Helena MT, 59620.
    TammyTilzeyChaneyComanMeredithMorgan
  • edited February 24

    Thank you, @KristinBurgoyne! This is very helpful. I appreciate that you were willing to share all of the forms you use. I hadn't thought about adding attachments to the Foundant system notification, but that is a great idea.


    Thank you!

  • We also tried doing it as a link in the email to a form online.... it wasn't as successful... people couldn't access the link correctly and we ended up emailing it out anyway.... The advantage to using an existing link is if "they" update the document you don't have to update your document.

    ·        State of Montana Substitute W-9 form in PDF format at https://www.irs.gov/pub/irs-pdf/fw9.pdf

    ·        Electronic funds transfer form 204-EFT in PDF format at https://mine.mt.gov/Portals/33/documentation/sabhrs/accounting/Daily_Operations/204%20-%20Electronic%20Funds%20Transfer%20Sign%20Up%202019.pdf?ver=2019-12-20-172352-353

    Our next step is to create an annotated "sample" form for reference when filling out the document.

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