Requirements and Conditions of the Institutional Development Grant
If an Institutional Development Grant is awarded for the purpose stated in your application, you will be subject to the following requirements and conditions. The following statement will be required to be signed as a legally binding agreement by you as principal coordinator of the grant and by an appropriate senior member of your university who will have responsibility for the administration and accounting of the funds. Please read it carefully.
1. SCOPE OF THE DEVELOPMENT PROJECT: Grant funds may be spent only on items included in the approved budget. The institutional development project may not be significantly modified in its goals, location, methodology, personnel, budget allocation, start date, duration or schedule without prior approval from the Foundation
2. RETURN OF FUNDS: Funds used for purposes not approved by the Foundation or not spent at the end of the grant period must be returned to the Foundation. If any item of equipment is purchased with grant funds it must be the property of the grantee department and not of any individual involved with the Institutional Development Grant.
3. REPORTING REQ