The following is an overview of the typical grant process and how an organization can use the Grant services in Aptify to facilitate grant procedures:
- The organization or foundation identifies an opportunity to offer a grant in a specific field of interest to the organization.
- The organization accepts application for the grant from interested parties.
- The organization raises money to fund the grant.
- The organization selects a grantee.
- At this stage, a user can create a Grants record in Aptify. See Tracking Grant Information.
- At this stage, a user can create a Grants record in Aptify. See Tracking Grant Information.
- The organization performs due diligence to confirm that the grantee is a suitable recipient. Then, the board of directors or another decision-making body approves the grant based on satisfactory due diligence results.
- See Recording Due Diligence Progress and Results for for information on how to track due diligence efforts for a grant in Aptify.
- See Recording Due Diligence Progress and Results for for information on how to track due diligence efforts for a grant in Aptify.
- The organization provides the grant funds to the grantee based on the grant's payment schedule. In turn, a grantee provides periodic reports of the grant's progress and financial position to the organization.
- See Managing Grant Disbursements for for information on how to track grant payments made to the grantee and reports received from the grantee.
- See Evaluating About the Balance Information for Grants Evaluating a Grant's Available Balance for information on how to review the available balance of the grant and the total payments made to the grantee to date.
- When all funds for the grant have been distributed and the grantee's project is complete, a user marks the Grants record as Closed.