Terms of Grants - Private Foundation Expenditure Responsibility
To meet the expenditure responsibility requirements, each grant must be made subject to a written commitment signed by an appropriate officer, director or trustee of the grantee organization. This commitment must include the following agreements by the grantee:
- To repay any amount not used for the purposes of the grant,
- To submit full and complete annual reports to the grantor foundation on the manner in which the funds are spent and the progress made in accomplishing the purposes of the grant,
- To keep records of receipts and expenditures and to make its books and records available to the grantor at reasonable times and
- Not to use any of the funds to influence legislation, to influence the outcome of elections, to carry on voter registration drives, to make grants to individuals or other organizations or to undertake any nonexempt activity, when such use of the funds would be a taxable expenditure if made directly by the foundation.