Grant Program Guidelines
- All grant applicants must be filed on the Foundation’s standard form and directly with the Hellenic Foundation, not with members of the Board of Directors.
- No application will be considered from a non-profit organization unless the non-profit organization is currently recognized by the Internal Revenue Service as a 501 (c)(3) tax-exempt, non –profit organization in accordance with the provisions of the Tax Reform Act of 1969.
- The Foundation does not make direct grants or scholarships to individuals.
- In keeping with the historic focus of the Hellenic Foundation and scope of its Mission Statement.
- Approval of a portion of a grant request does not obligate the Foundation to further support that project.
- Grants are approved only by specific resolution of the Foundation Board and are effective only after a standard Grant Agreement has been executed and delivered to the Foundation by the Applicant and subsequently accepted by the Foundation in writing by the Chairman of the Grant Committee.
- To conserve its resources and to maximize its support, the Foundation does not grant funds to pay completed projects, to pay existing debts or deficit funding, to pay for political expenditures or lobbying activities.
- Solicitation from annual contribution drives will not be considered.
- The Grant Program does not have emergency discretionary funds.
- In general, the Foundation does not fund grant applications for capital improvements.
- Grant applications that would result in the funding of the grant request to “pass through” to third party, or another program or project will not be considered.
- All funds distributed by the Foundation must be used for the project designated in the application and the grant agreement, and any funds not used for the designated project must be returned to the Foundation. Further, all funds not used for the specific project within 12 months following the Grant Award will expire as of December 31 of that year.
- All grants applications will be considered annually at Board of Directors meeting held in the Fall of the year. To be considered at that meeting, an application must be received by July 1st.
- All grants are made at the discretion of Hellenic Foundation. Qualification under the Foundation’s grant policies and/or satisfaction of Grant Application Terms and Conditions does not entitle an organization to receive a grant. The Hellenic Foundation reserves the right to decline to make any grant requested.
Grantee Reporting Guidelines
Hellenic Foundation relies on grant reporting to evaluate progress toward the vision and goals we share with each of our grantees. Grant reports offer the opportunity to learn from grantees’ successes and challenges and provide invaluable context to continually refine Foundation grant making. Information in the grant reports is carefully reviewed by Foundation staff.
In accepting an award from Hellenic Foundation, all grantees have consented to comply with the Foundation’s requirements for awarded grants. Please refer to the Grantee Responsibilities for details.
Commingling of Funds
Grant funds shall be placed in a separate interest-bearing account until they are needed for the project for which the grant was made. The accrued interest must also be used only to support that project.
Reporting and Record Keeping
Narrative and financial reports should be submitted together on or before the due dates specified in the Foundation’s award letter. The Foundation may suspend grant activities and require the return of funds for delinquent or unsatisfactory reporting, and will consider reporting history in awarding of future grants.
Narrative and Financial Reporting
Narrative reports should describe the activities undertaken and the use of grant funds, and evaluate the progress made toward achieving the purpose of the grant during the reporting
Financial reports should be specific to the grant. If an organization has multiple grants from the Foundation, each grant must be separately reported. Grantees are required to use the same budget categories used in the grant proposal, making it possible for line-by-line comparison of the approved budget and actual expenditures.
Grantees are required to retain accounting records, detailing all receipts and expenditures, for a minimum of three years following submission of the final grant report. The Foundation reserves the right to conduct on- and offsite audits of records related to the use of grant funds. In cases where grantee spending is not consistent with the Foundation’s award, the Foundation reserves the right to request the return of awarded funds, disallow expenditures, or take other remedial actions.
When to submit…
Grantees are expected to report on yearly activities according to the proposed Project Time Period, which usually coincides with the Foundation’s funding cycles in June and December. For grantees that have received payment, the Grant Reporting Schedule is as follows for the duration of the grant:
Grant Reporting Schedule
Grant Cycle* Reporting Period Due Date
June July 1- June 30 July 31
*Date of Grant Award Letter
If either due date falls on a weekend, the deadline is extended to 4:30 p.m. (PT) on the following Monday. Deadlines are based on Pacific Time.
If payment of the award is contingent on the grantee meeting certain condition(s) as stipulated in the grant award letter, the Foundation requests that an update letter be submitted every six months until the condition(s) have been met. Contingency updates are due as follows:
Grant Cycle Due Date
January 31 June 30, then December 31
An update letter must address the following points:
- Progress on meeting the conditions for payment
- Project timeline
- Revised project budget (if applicable)
- Update on fundraising
If the condition is met prior to the update letter due date, required documentation can be submitted at that time. Once the condition(s) have been met and payment has been received, the grantee will be notified when the first interim progress report is due. On a case by case basis, the grantee will be notified in writing if the Foundation requires information and/or reports on a different schedule.
When to contact us…
Grantees are encouraged to contact their Program Director during the course of the grant if significant programmatic or financial events transpire that positively or negatively affect the institution, project and/or key personnel.
Changes in Scope or Key Personnel
Contact the Foundation immediately should the grantee:
- become aware that the purposes for (and/or implementation of) the grant have become impracticable;
- wish to terminate the program or project funded;
- wish to redirect the purpose of the grant; or
- make a change in lead personnel.
Changes in Grant Terms
A grantee wishing to change the terms of a grant, through extensions of the grant period, reallocation of grant funds, or rollover of funds from one Foundation grant into another given for the same purpose, or to transfer a grant to another organization, should contact program staff with a brief description of the proposed change. If staff determine that additional documentation is necessary, they will direct the grantee to the Foundation’s grant modification procedures. Grantees must obtain advanced written approval from the Foundation for any such material change. Should the grantee wish to make alterations or additions to the approved budget totaling 10% or more in any budget category, prior approval from the Foundation is required. Significant changes, such as repurposing a grant or modifying the terms of a matching grant, require staff to seek approval of the Foundation’s Board of Directors. Such requests are not routinely brought to the Board of Directors nor are they necessarily granted.
Grantees should also promptly inform the Foundation in writing of significant changes in project staffing, organization leadership, scheduling, or budgeting, when such changes occur during the grant period. The Foundation reserves the right to suspend the use of grant funds if the change is considered material to the success of the grant.
A grant award from the Foundation may be conditioned on the satisfaction of specific requirements. When conditions are established, the Foundation will not make payment on the award unless and until all conditions have been met. The Foundation reserves the right to rescind a conditional grant when conditions have not been satisfied in a timely manner.
The grantee must secure Foundation approval in writing before releasing any public announcements or statements to the media regarding the grant, referencing it in internally produced publications, or making any commitments for permanent recognition of the Hellenic Foundation. Foundation staff is happy to assist in developing such material. The Foundation reserves the right to publish the abstract submitted by the grantee. In addition we may include a link to the website of the recipient institution and/or grant project in Foundation publications.
If a matching grant is awarded, the grantee is required to secure the matching funds necessary to fully implement the project. Upon raising the match, the grantee is asked to provide the Foundation with a detailed accounting of the sources of the matching gifts. Government grants, bonds, the institution’s endowment or other existing support do not qualify as a match.
Grant agreement will be deemed to have been entered into in Cook County, State of Illinois; and, Illinois law will apply to the interpretation and enforcement of the grant provisions.
The Foundation will monitor and assess the impact of prior grants to help determine the Foundation’s future program objectives.