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important_grant_related_terms [2018/02/09 22:11]
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important_grant_related_terms [2018/09/02 21:04] (current)
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**Qualifying Distributions:**  Private foundations operate under IRS requirements to pay out, or give via grants, a minimum percentage of their funds. Those payouts which meet IRS guidelines are considered "qualifying distributions" and go toward meeting that minimum payout requirement. **Qualifying Distributions:**  Private foundations operate under IRS requirements to pay out, or give via grants, a minimum percentage of their funds. Those payouts which meet IRS guidelines are considered "qualifying distributions" and go toward meeting that minimum payout requirement.
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 +**Reimbursable Grants**  Seems like a strange term, doesn’t it, since grants by definition never need to be paid back? But the “reimbursable” term here means that the money from this particular type of grant does get given until your expenses have already been incurred and you have paid them. You then go through a specific procedure to document your expenses and you have funded them with money you already have. Usually you will need something like providing receipts for items you purchased or credit card statements or other acceptable evidence. Some types of expenses will not be considered eligible for reimbursement, especially if you have a federal grant. Be sure in any case to know for sure up front what will and what will not be able to be paid back to you.
**Set-Asides:**  One of the categories of Qualifying Distributions, defined above. These are monies specifically set aside by a private foundation to support a project or well-defined purpose. Per the IRS, these monies must be paid out within five years of the initial set-aside. **Set-Asides:**  One of the categories of Qualifying Distributions, defined above. These are monies specifically set aside by a private foundation to support a project or well-defined purpose. Per the IRS, these monies must be paid out within five years of the initial set-aside.
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important_grant_related_terms.txt · Last modified: 2018/09/02 21:04 by admin