Approved grants are documented in an agreement executed by both the Foundation and the Grantee to confirm the terms of the grant. Among the terms of the grant agreement are a schedule of payments and reporting requirements for the grant.
Reporting requirements include interim and/or final reports which describe the funded activity as well as the status of the project budget. The Foundation has established templates for the Grantee Report and Budget Report. All grantees should use Foundation templates to satisfy reporting requirements of the grant agreement.
Grants are considered closed by the Foundation only after final reporting requirements have been completed, even when these requirements are to occur after final grant payments have been made.