Grant Extensions due to pandemic - What steps are you taking?
Hi, I'm looking for suggestions for how other Foundations have been handling grant extensions in Foundant (such as a note within the original signed grant agreement, a new follow up form or application, etc.? We of course want to have documentation in writing for our Community Foundation audit. How are others handling extensions in the system?
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Hey! What do you mean by grant extension? Are you paying more or extending your due date?
Lisa@goldringfoundation.com
504-849-6078
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Thanks for asking! We're planning to extend the due dates for some of our grants, especially those that are event based. However, the amounts should stay the same. Are you in a similar situation?
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We have a few grants that the board approved contingent on the event taking place. Many have have been postponed to a fall date. I haven't written anything formal to these grantees, just let them know via email that we will wait until the event occurs. Some were for camps, still waiting to hear if they will actually happen. New grant requests, will be presented at the Fall board meeting but I think my board will stick with the same contingency.
Lisa@goldringfoundation.com
504-849-6078
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Good to know, thanks. We essentially have two groups: 1) those that were previously approved prior to COVID-19 with events/activities being postponed and 2) those that will be approved for future events.
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We sent out a blanket email to all of our grantees, indicating that if they needed an extension to please contact our office. Once that email went out, I was busy on the phone for about two days, but then things leveled out and those that needed it got the extension and if they didn't need it, the deadline stayed the same. The 'monkey' was sort of on their backs to let us know if they needed more time.
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