What is CIFI’s process to account for donated funds and its approach to honoring donor intent?

CIFC has an accounting team that sends out annual reports and financial reports. Donor reports are audited as well as sites where funds, products, or initiatives are implemented. Collective Impacts Foundation Corporation requires grant recipients to submit various programmatic and financial reports which are due at specific times during the life cycle of a grant award. All reports must be accurate, complete, and submitted on time. These procedures including periodic reporting requirements, auditing grantees, site visits by Collective Impacts Foundation employees or compliance checks by impartial experts, etc., will be used to verify that grant funds are being used appropriately.

​

Collective Impacts Foundation will be supporting other organizations within the social networks applying for mental health, volunteerism, ethnic, socially disenfranchised, financially supporting, displaced population, youth, elderly care, structural type, and multipurpose
distributions. The Foundation supports a competitive documentation-heavy process that consists of written needs assessment and serves as a methodology to garner clear and concise documentation of the submission organization's functional capability to successfully meet the need of being supported accordingly under the intended purpose of the financial or substantive support being sought for use of the grant, distribution originally stated intent and purpose including submission requirements for the specified fiscal/budgetary year. Collective
Impacts Foundation will ensure an audit is completed annually on social networks and the supported recipients that Collective Impacts
Foundation supports monetarily or in-kind.

​

Collective Impacts Foundation requires grant recipients to submit various programmatic and financial reports which are due at specific times during the life cycle of a grant award. All reports must be accurate, complete, and submitted on time. these procedures, including periodic reporting requirements, auditing grantees, site visits by Collective Impact Foundation employees or compliance checks by impartial experts, etc., will be used to verify that grant funds are being used appropriately.

​