Stony Brook Foundation Inc

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

Organization's procedures for monitoring the use of grants in u.s. when the foundation issues grants from funds with a purpose restriction, the designated account manager submits a requisition for the grant, together with supporting documentation, to the foundation's procurement department. a detailed justification for the grant is required, including the purpose of the grant. the grant request is reviewed, including for compliance with the terms of instrument designating the funds for a particular purpose, and approved. when the foundation issues a grant for more than $5,000, review, approval and manual check signature by the foundation's business office is required. when the foundation issues a grant from unrestricted funds, a grantee submits a request, together with supporting documentation. a detailed justification for the grant or direct payment, as applicable, is required including the purpose of the grant or direct payment, as applicable. the budget committee, together with the foundation's executive director, reviews and approves requests from the foundation's unrestricted funds. depending on the type of grant and the grant recipient, at the end of the grant term, a final report regarding the use of the grant funds is submitted by the grantee to the foundation. in lieu of making grant payments, the foundation may pay expenses directly on behalf of a grantee. for the academic prizes and awards, the funds are distributed incrementally, and the increments shall be based