It’s always a good policy to have a grant agreement with grant recipients. Not for when the grant goes well, but rather, for when it doesn’t.
With a grant agreement in place, it is easier to:
- Monitor a grant for performance according to the application
- See if anticipated outcomes are achieved
- Receive reports from the grantee
If the grantee does not use the grant funds for proper purposes, it is far easier to rescind the grant and recover the funds if a written grant agreement exists and was violated.
Learn more about foundation grant agreements >>
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