Black Hills Area Community Foundation

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

To ensure that funds are used to meet the community's charitable needs: 1) recommendations of grantees by donor advisors or expenditures by fiscal sponsorship contacts are required in writing. 2) recommendations for distributions from donor advised funds are reviewed by staff to assure compliance with all requirements and regulations. staff will verify the status of the recommended recipient using a realtime database such as guidestar. a dated copy of the donor advisor's written recommendation and supporting documentation regarding the organization's status will be placed in the fund's permanent file. 3) as needed, recommendations for grant distributions will be brought to the executive committee or board of directors for approval. 4) staff shall maintain on file annual reports, newsletters, and irs letters determining exempt status about nonprofit organizations whose missions are consistent with the goals of the foundation. 5) grantees receiving competitive grant awards are notified in writing the purpose of the grant funds and timeframe when the money is distributed. a grant report at the conclusion of the grant period is required to verify compliance with the restrictions as communicated. the foundation maintains and operates under a strict written policy for awarding scholarships, fellowships, and other grants to individuals. such policy provides for complete control of the nomination and award process by the foundation. such process requires that documentation be maintai