Grant payments are typically issued within seven to ten days. Grant recommendations to organizations that are known to the Foundation are generally reviewed and collected for processing weekly on Tuesday afternoons. These payments are issued by Friday of the same week.
If you recommend a grant to an organization that has never received funding from the Foundation, our staff will conduct a review to verify that it is a qualified charitable organization. To learn more about grant eligibility requirements, review our Donor Advised Fund Policies and Guidelines.
New organizations are reviewed on a first-come, first-served basis, usually within a few business days. Occasionally, verifying the eligibility of a grant recipient takes longer, typically when an organization is new or is not registered as a public charity with the IRS. If there is a significant delay, a member of the Foundation staff will reach out to you and your Philanthropic Advisor.
The status of grant payments is updated automatically in DonorView and can be viewed on the “Grant History” page.
When you first recommend a grant, the status of the payment will be listed as ENTERED in the STATUS column.
The status will be updated to APPROVED once the organization has been verified, the grant purpose has been approved, and funding has been encumbered.
Next, the Foundation will create a payment and update the payment status to ISSUED. For electronic payments, this also means that the funding has been distributed to the grant recipient’s bank account. Check with your Philanthropic Advisor to find out if the grant was distributed electronically. ISSUED is the final status for electronic payments.
Payments made with physical checks are updated to POSTED when the check has been created and mailed to the grant recipient.
Once our accounting department has confirmed the payment has been deposited into the grant recipient’s account, a date will be listed in the CLEARED column.
Please let us know right away! We will verify the organization’s mailing address and work with its staff to ensure the funding is received and appropriately allocated. We automatically review all outstanding payments after 60 days.
If an organization reports not receiving a payment, and the mailing instructions are correct, we typically allow at least 60 days for shipping to complete before reissuing any payment. The Foundation reviews all outstanding payments after 60 days.
Fund statements are generated 30 days after the close of the month. We generate statements for each month, quarter, and annual term.