The Foundation is currently developing a more formal grants policy, however certain guidelines and principles are normally observed. These are
- Priority is given to projects and programs which offer benefits directly or indirectly to the residents of New Brunswick.
- Grants are normally made on a seed-money or one-time basis with long-term commitments being avoided.
- The grants budget in any year is to be based on the revenues realized in the preceding year.
- Any formula for the allocation of funds on a percentage basis among the several statutory objects must be flexible enough to allow for unusual fluctuations in revenues realized from year to year.
- Grants are normally given for a one-year period subject to an extension of time at the request of the grantee.
Grant Conditions
The Board attaches the following conditions to grants:
- The term of a grant is one year. Any funds remaining unexpended at the end of the year lapse. If the project extends beyond a year, the approval of the Foundation must be obtained to continue the approved funding into the following year.
- Funds are to be expended in accordance with the budget submitted with the application. Any proposed significant digression from the budget must be approved in advance by the Foundation.
- Any publicity or publication in connection with, or arising out of, the project is to indicate the Foundation’s participation.
- Upon completion of the project, a final report and accounting must be provided. If the project is to extend beyond a year, then a progress report must be submitted on the expiration of the first year.
- The grant is not to be regarded as representing a continuing commitment of support by the Law Foundation.