GEOList Summary: Long-term and renewal grantees: how you do it?
This is probably a perennial question for a lot of us, but I wanted to ask anyway and learn from your responses:
- Does your foundation make any longer-term grants or engage in longer-term funding relationships with grantees through grants that are renewed over a number of years?
- If yes, what does that look like?
o Is it a well-defined program approach in which different types of grants are treated as automatic renewals or automatic multiyear grants? Or is it a funding mechanism your foundation has developed over time as a time-saver for the grantmaking staff?
o Do you automate renewals?
o Do you require anything different, any less or any more in the application or in the due diligence, from longer term or renewal grantees than you do from first-time or short-term grantees?
o If you issue a formal agreement to your renewal or longer-term grantees, does that agreement look different from the one you would issue to a first time or one-time grantee?
o Do you have a limit on how many times you will renew a grant?
o What are some lessons learned about long-term renewals that you would be willing to share with other donors?
Thank you for helping me think this through.
All the best,