Rockefeller Family Fund Inc

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

Before grant funding is provided to an organization, the rockefeller family fund (the "fund") performs a due diligence check to confirm that the organization is in good standing and a recognized public charity or other type of permissible grantee. this includes the grantee's irs tax determination letter, most recent audited financials/form 990, and a charity check report from guidestar. in most cases the fund also collects a narrative proposal and budget from the grantee for the proposed work. grant funds are provided after a grant agreement is executed by both parties setting out the permissible and prohibited uses of funds. the fund monitors the use of grant funds in a variety of ways: the fund generally requires an annual narrative report of activities financed by the grant and a financial report detailing the expenditure of grant funds. often larger grants are distributed in at least two payments, with the latter payment released only after review of the grantee's work during the previous period. for significant grants, the fund regularly speaks with the grantee throughout the grant period to assess the grantee's performance and discuss compliance with the terms of the grant agreement.