The Albertsons Companies Foundation

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

The foundation uses a 3rd party system called versaic to track the applications and use of grant funds by both organizations and individuals. for all large grants of $100,000 or more, we are developing an improved progress report each organization must complete online. this progress report includes information on how the funds are spent, what percentage is used for administrative expenses as compared to program services, what percentage of the overall budget is the foundation grant. we also collect program statistics about the number of people being served and research milestones. in addition to the above precedures, grantees of funding over $100,000 must perform the following: all requests must be made in writing on the applicant's letterhead or on an official foundation grant application. we require a copy of the irs tax-determination letter and financial statements to be submitted. the request should clearly state the organization's mission, description of the services it provides, number of people that it serves annually, whether there are any safeway employees on its board, and whether it charges a fee for its services. in addition to the above precedures, grantees of funding over $1,000,000 must perform the following: all requests must complete an online application and prove that they (1) are a 501(c)(3) in good standing with the irs, (2) provide information on what they would like to use the money for and (3) provide recent financial statements. all applications for f