If the grant is for a project for which substantial funding still needs to be raised, the Trust will discuss the most appropriate timeframe for releasing your grant and will ask you to provide regular updates on the progress you are making in securing the balance of the funding. The payment of the grant from the Trust may be made dependent upon securing the balance of the project funding from your other sources in order to ensure that the overall project moves ahead as planned, and to ensure that The Hayward Charitable Belize Trust grant monies are not wasted.
In most cases, unless the Trust specifies otherwise, it will require the grant to be taken up within 6 months of the award date. Therefore it is important to tell us if you are unlikely to be able to draw down your grant and commence the project within this period.
If the grant is for an existing activity, or all other funding is already in place, the Trust will usually release payment as soon as your grant is awarded. This is also the case for most small grants.
Once you have received your grant payment, you will be asked to submit a brief grant report at the end of each period of funding or agreed milestone. This report should provide information covering:
How the grant has been spent;
- The impact of the funding on your charity's work, and the specific agreed project;
- The people who have benefited (using qualitative and quantitative data where possible);
- The extent to which the project has been successful;
- The lessons you have learned for the future;
- Any broader impact the funding has made.
At the end of each year of operation of the charity, where the Trust has provided funding, it will require a copy of your charity's latest report and accounts, and a covering letter from your chairman or treasurer. Please note that all grants awarded by the Trust are subject to a standard set of grant conditions as follows:
- The grant may be used only for the purpose for which an application was made, as approved by the Trust, or for other purposes that they may subsequently approve. Any proposed departure from the original purpose or program of work should be raised with the Trust in good time. The Trust will require repayment of the grant if the grant is not used for its originally intended purpose or an approved revised purpose.
- Where a grant is made for a salary for a particular post, the Trust must be informed immediately if there is a change of post-holder.
- Grants are not transferable for use by any other body. This condition also normally applies if there is a merger or takeover of the recipient body.
- The Trust must be informed immediately, if during the period of the grant there is any material adverse change in the circumstances of the recipient organization, such as a change of chief executive, of which in fairness the Trustees should be informed.
- Where a grant is paid to an applicant through a third-party registered charity, then that body should satisfy itself that the purposes for which it will be used are legally charitable, and within its own objects.
- The Trust neither seeks nor shuns publicity. Where acknowledgement of a grant is usual, for example in a voluntary body’s annual report, no permission need be sought to mention the Trust’s grant. Also, no permission is required from the applicant for publication by the Trust on its website or another publication.
- A report should be provided on the use of the grant, at the end of the period to which it applies and annually if this is more than 18 months. An Annual Report and Statement of Accounts should also be provided for each year in which the Trust support has been given.
- The continuation of support is conditional upon the recipient body remaining solvent. Immediate notification of insolvency is required; in this event, no further grant installments will be paid. Any grant installments already paid and covering a period after the date of insolvency are to be repaid to the Trust, or, in the absence of sufficient assets to meet this debt, to be a first claim on the funds available.
- If any deception or fraudulent statements or activities are used to obtain the grant, it will be repayable immediately.
- If repayment of the grant is required for any of the reasons listed above, or any other reason, the Trust may also require payment of interest earned on the sum received, at a rate of 12% p.a.