The grant agreement should be prepared by an employee from the Program Department and the Grant Manager, based on a decision by the Expert Committee of the corresponding program, the Board of Trustees or the Founder, and should be signed by the Chair of the Executive Board on behalf of SFK.
If, during the implementation of the Agreement, the necessity to change the items budgeted for arises (i.e. the Grant budget is to be modified whereas the overall amount of the Agreement remains the same), the decision to change the respective items must be made by an employee of the Program Department and the Grant Manager and approved by the Programs Director. The Grantee must be notified of the approval in writing.
The person/body who has approved the respective project must approve modifications to its budget in the following instances:
- increasing the grant amount; or
- based on the respective recommendation from the Executive Council.
Any other changes in the project relating to project management (replacing project participants, postponement/replacement of an event, etc.) should be reported by the Grantee to the Foundation in writing and then should be considered by the responsible program specialist and the Grant Manager in terms of their impact on project goals and objectives and submitted for approval to the Executive Council. A decision on whether to permit changes in the project is made after the above procedure is fulfilled, with a notice to be given to the Grantee. The Grantee’s requests to make changes to the project should be considered within not more than 15 days.
The Grantee should return unused Grant funds to SFK.
The Agreement on the fulfillment of a project funded by OSI-NY must not envisage the purchase of fixed assets. OSI-NY funded projects are also subject to other restrictions as set forth in the relevant agreements.
If acquisition of fixed assets is to be funded, the term of the Agreement should be three (3) years from the day of signing. All fixed assets handed over under acceptance statements and/or acquired with the Grant funds are the property of the Foundation until the effective period of the Agreement is over. They should be recorded on the balance sheet of the Grantee, who is to be granted the right of ownership. When the Agreement expires, except for termination as a result of Grant cancellation, all assets become the property of the Grantee.
If the provided funds are not used for acquisition of fixed assets, the Agreement should be valid for one (1) year from the date of signing or while the Grant is under implementation.
If the travel of a Grantee to any event is to be funded, the Agreement should be valid for one (1) year from the date of signing.
If the Grantee’s participation in SFK events is to be funded, the Chair of the Executive Council should sign an Invitation Agreement with the participants to the event. The Invitation Agreement should include the venue and time of the event and the list of participants.