Grants by Private Foundations - Expenditure Responsibility: Recordkeeping requirements
In addition to the information required when filing a return, the granting foundation must make available to the IRS at the foundation's main office each of the following items:
- A copy of the agreement covering each expenditure responsibility grant made during the year,
- A copy of each report received during the tax year from each grantee on any expenditure responsibility grant, and
- A copy of each report made by the grantor's personnel or independent auditors of audits or other investigations during the tax year concerning any expenditure responsibility grant.