Acceptance of Proposals and Release of Grant
Acceptance of Applications
If a proposal is being considered for a grant, the applicant would be intimated in this regard within six to eight weeks from the date of receipt of the proposal. Once the grant is approved by the Board of Directors, the Foundation will request the applicant, to sign a GRANT AGREEMENT based on mutually agreed terms and conditions.
Applications are considered throughout the calendar year i.e. from January to December each year. However, if the Foundation receives requests far in excess of its ability to give funding, some grant requests may be denied. Qualified organizations which are declined may also reapply after a gap of six months.
Release of Grant
The disbursement of the funds shall be on the basis of the milestones set forth in the Grant Agreement.
The Foundation will ensure proper monitoring and audit of all funds sanctioned. The audit shall be conducted by independent auditors appointed for this purpose by the Board of Directors. In addition, the Foundation will conduct periodic social audits of the projects through direct participation of the beneficiaries. This process, known as Jan Sunwayi or Public Hearing, is a tool for gauging public opinion.
Click here for Transparency Guidelines.
