The Spendable Grant functionality is a way for your foundation to create grants based on the spendable balance that goes to specific beneficiaries connected to funds. There are two fund requirements necessary to create a spendable grant.
- The fund must have a spendable balance.
- Process Distributions provides additional information on spending policy.
- The fund must have beneficiaries.
Once created, the spendable grant will be located in the New Grant bucket. If the fund has one or more fund advisors, then the primary fund advisor will be added to the grant record as the grant advisor.
Create Spendable Grants From an Individual Fund
- Navigate to the fund from which the spendable grant will be created.
- Click the Relationships tab.
- Locate the Spendable Balance in the record, and then click Grant Spendable.
- Enter the applicable Create Spendable Grants information, and then click Create Grants.
- The Spendable Balance Date defaults to today's date. Click Change Spendable Balance Date in the left-side menu to change the date.
- All funds are checked by default. Uncheck to prevent grant creation.
Create Spendable Grants From the Grants Page
Creating spendable grants from the Grants page allows spendable grants to be created in bulk for either all funds or specific funds in fund groups or fund divisions.
- Navigate to the Grants page and click Create Spendable Grants in the left-side menu.
- Click All Funds or Specific Funds.
- For specific funds, click Specific Funds and proceed to step 3.
- For all funds, click All Funds and proceed to step 4.
- Check the box next to each fund group/subgroup/division for which a spendable grant will be created, and then click Next.
- Fund groups/subgroups/divisions containing funds without a spendable balance and beneficiary will not appear.
- Fund groups/subgroups/divisions containing funds without a spendable balance and beneficiary will not appear.
- Enter the applicable Create Spendable Grants information, and then click Create Grants.
- The Spendable Balance Date defaults to today's date. Click Change Spendable Balance Date in the left-side menu to change the date.
- All funds are checked by default. Uncheck to prevent grant creation.