Institute for Responsive Government Inc

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

Providing grants to mission-aligned organizations is one way that irg maximizes its impact. grants must be approved by the organizations ed and there must be a written proposal or solicitation provided by the potential grantee which lays out the purpose of the grant. the coo drafts an award letter outlining the terms and conditions of the grant. for all investments in organizations that reach a cumulative amount above 1,000,000 in a given fiscal year, board approval is required and obtained either within a live board meeting in person or virtual or via a written unanimous written consent process. the board has delegated the authority to approve grants at or under 1,000,000 to the organizations ed. disbursements are made when the grant agreements are signed, and any other initial milestones or requirements are met. upon receipt of the signed grant agreements, the accountant records unconditional grants as expenses in the year in which the grant was approved. conditional grant future payments are encumbered, but not recorded until the conditions are substantially met.