Akron Community Foundation

How it makes and monitors grants (Schedule I, Part IV)

All grants from unrestricted or affiliate funds awarded through competitive application are required to formally report back to the foundation on the use of funds and the success of the program within one year. for organizations that have not fully expended the funds, or when the funded program or project is not considered complete, the foundation requires follow up reports until considered complete. foundation staff, board members and affiliate fund advisory committee members make sporadic site visits to grantees and staff will engage in on-going discussions with the grantee as appropriate considering the size and complexity of the grant, over the life of the grant. foundation staff also monitors local media reports, attends community meetings and otherwise makes every effort to stay well-informed about the activities and financial soundness of its grantees. for donor advised funds (daf), both the donor fund advisor and the grantee receive letters at the time of the grant which state the purpose of the grant as well as prohibitions on use of funds (not to be used to benefit the fund donor or acf, not to be used to satisfy a personal pledge or legal obligation of the donor, no tangible goods or services to be received). before disbursing funds, the foundation requires a signed annual statement (every other year unless they are a new grantee) regarding quid pro quo benefits from every daf grantee organization, certifying that the organization has educated its staff and volunte