Your funding guidelines will spell out the interest areas you identified earlier, the process by which you distribute funds, and how or whether organizations can request grants from you. Here are some things to include:
Selection of grantees - You can decide to give grants only to organizations that you identify yourself, or to accept grant proposals from charities who want funding. If you choose the latter, you can decide whether you want to allow only proposals that you solicit, or whether any eligible organization can apply. Application process - If you opt to receive applications for funding, you'll need to decide what your process will be. What information do you want to know about the proposed project or organization? It can be as simple as a form or a letter mailed to your foundation, or a very detailed proposal, according to your preference. Whatever you decide, your guidelines should carefully and specifically spell out what you want from applicants. Grant ranges - You will need to determine how large your grants will be. This will be determined in large part by the size of your endowment and how your investments are performing. Calendar - If you intend to accept proposals, you will need to decide how often you want to review them. You can set any schedule you like, from a rolling basis to once a year.