I'm hoping to talk to people who have experience with recoverable grants. Apparently we have begun soliciting recoverable grants for a project at one of our sites, and I believe it's aimed at people with DAFs. There are Finance and development staff aware of this as they are involved in the project, but today was the first say I was made aware of this project, and some funds have already come in and been booked that my team did not know wasn't a traditional DAF gift.
I have never dealt with recoverable grants before, and did some quick research. It seems like it's basically a loan to us that we invest and then need to pay back to the donors with a below-market rate of return to "satisfy IRS guidelines." What do I need to know to properly code these transactions in our database and ensure they are acknowledged/referenced properly? I assume they should not be treated as traditional philanthropic gifts with tax receipts and so on, but I want to make sure I understand what we need to do to properly handle these funds so we -and the donors - are in full compliance with any laws.
Thanks in advance!
Tracey
Tracey Mullane
Director, Development Operations | Partners in Health
800 Boylston St. Suite 300 | Boston, MA 02199-8190
(857) 880-5729 |
tmullane@pih.org<mailto:
tmullane@pih.org>
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