1. PURPOSE

1.01    This Statement of Policy sets out guidance related to the overhead allocation amount when a MakeWay Charitable Society (“The Society”) project grants to another The Society project.  

2. SCOPE

2.01    This policy applies to grants made from one The Society project to another The Society project at the time the grant agreement is signed.

2.02    This policy does not apply to grants made from MakeWay Foundation to the MakeWay Charitable Society Shared Platform.

3. POLICY

3.01    When one The Society project provides an internal grant to another The Society project; the internal grant is recognized as a grant expense to the grantor project and project revenue for the grantee project.  It is The Society policy that overhead is applied to all The Society project revenue.

3.02    In certain circumstances, the internal grants require minimal incremental work from The Society support team and do not create extensive new risks or requirements for The Society. In such cases, the overhead allocation on the project revenue to the grantee project may be waived  

3.03    The Society support team will review internal grants on a case-by-case basis to determine if, and when the overhead allocation can be waived. This decision will be made by reviewing the requirements, risk, liabilities, and work required by the internal grant.

4. RESPONSIBILITY

4.01    The Society Operations Team is responsible for reviewing all internal grant agreements as they relate to this policy. If the Operations Team identifies that an internal grant does not create new liabilities or requirements, they are to flag it for the Director, Shared Platform.

4.02     The Director, Shared Platform, in consultation with the CFO, has ultimate authority to determine when overhead will be allocated on internal grants. Once the decision to waive the overhead allocation has been made, The Society Operations Team will inform The Society Project Staff.

4.03     The Society Operations Team will inform The Society project if the overhead allocation to the grantee projects is to be waived.  

4.04     The Society Project Staff are responsible for letting The Society Operations Team know if there are any substantive changes to the grant after the agreement is signed. The Society Project Staff recognize that substantive changes to the grant may result in overhead having to be allocated even after the grant agreement is signed.

5. DEFINITIONS

5.01     ‘Internal Grant’  Grants made from one project on The Society Shared Platform to another project on The Society Shared Platform.

5.02     ‘Project Revenue’  any incoming award, donation, or other revenue received by a project.  For the purpose of this document this includes funds received through an internal grant from another The Society project.

6.  REFERENCES