Bourque Family Foundation Inc

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

First, the foundation will conduct a pre-grant inquiry of potential grantees. distributions of grant funds will be approved by the board of directors after careful and diligent review by the board of directors, which will receive and evaluate information regarding potential grants on a timely and regular basis. second, grants will be accompanied by a grant award letter which describes each grantee's responsibility to spend the grant for the required charitable purposes, to account for such expenditures, report to the foundation on a regular basis as to the use of grant funds, and refund any funds not used for such charitable purposes. third, grants will then be monitored through a narrative and financial report prepared by the recipient organizations. this information will be provided to the foundation within sixty days of the close of each fiscal year in which the distribution occurs. the reports will describe compliance with the terms of the grant and progress made in accomplishing the purposes of the grant, and will provide financial information detailing project expenditures. fourth, as finances and logistics permit, foundation representatives will make site visits to monitor and evaluate first-hand the progress of programs for which grant funds are awarded.