The Grants Committee is a standing committee of the Community Foundation. Three members are appointed for one-year terms by the President after the Foundation's annual election of officers. At least one of the Committee members shall be a Trustee; all non-Trustee members of the Committee shall be residents of Oak Park. To avoid any possible conflicts of fiscal interest, the Treasurer or any member of the Investment Committee may not be a member of the Grants Committee. The President shall designate one Committee member to serve as Chairman. The appointees shall be approved by the Trustees at their next meeting.
No request for a grant shall be considered by the Trustees until they have received a recommendation from the Grants Committee. The Committee shall base its recommendation on a formal Grant Application (per the attached), with special attention given to the "Criteria for Review" contained within the instructions for the Grant Application. The "Criteria for Review" are an official part of this policy by reference.
When Grant Applications are pending, the Grants Committee shall meet at least quarterly. Any recommendation shall be made by formal vote, with at least two members of the Committee concurring.
The Trustees reserve the right to act contrary to the recommendation of the Grants Committee. In considering a request for a grant, the Trustees may decrease or increase the amount relative to the amount requested. The Trustees may also impose conditions on a grant, including but not limited to the following;
requiring substantiating documentation of expenditures made from the grant,
requiring publicity for the Community Foundation as a result of the grant,
requiring that the grant be supplemented via grants or donations from other sources (a challenge grant), and
requiring that grant expenditures be made by the Community Foundation (through the Treasurer) rather than a cash grant being paid.
Any grant made from funds actively solicited for a specific purpose shall be made only for that purpose. When considering such a grant, the Grants Committee shall verify that it will indeed be used for the purpose for which the funds were solicited.
When considering a grant to be made from funds donated (without active solicitation) for a specific purpose, the Trustees reserve the right to waive any part of this policy as long as the intended purpose of the donation is met. Exceptions to this policy may be stated in a separate policy governing those funds.
