Receiving A Grant Once a grant has been awarded, it is considered an Active Project and falls under the purview of the Active Projects Administrator. The latter sends the grant recipient a congratulatory letter informing the grant recipient of LF requirements regarding transfer and accounting of project funds, as well as reporting on project activities. All communication should be directed to the Active Projects Administrator at firstname.lastname@example.org. Grant funds may be awarded in two ways: 50% issued at the start of the project, either as an advance (if project expenses have not yet been incurred) or as a reimbursement (if expenses have been incurred). The balance of project funds will be issued at the close of project activities, when all receipts, invoices, and reports have been submitted and approved. 100% of project funds may be awarded at the close of project activities, when all receipts, invoices, and reports have been submitted and approved. To receive 50% of the awarded grant at the start of a project, the Grant Recipient must submit a request to the Active Projects Administrator. Once approved, the Latvian Foundation’s Treasurer will disburse funding within 30 days. The final 50% of the grant will be paid out upon receipt and approval of the final report (narrative and financial). The grant is paid out in U.S. dollars, and all financial reporting must be calculated in U.S. dollars. Grants are paid out only to the grantee (physical person or organization). The Latvian Foundation does not make payments directly to businesses or individuals who have been hired to work on a project. Grants are paid out by bank transfer (to banks outside of the U.S. and Canada) or check in U.S. dollars (to grant recipients in the United States and Canada). Please note that all payments will be disbursed by the Latvian Foundation’s Treasurer within thirty (30) days upon receiving notification from the Active Projects Administrator. Project Timeframe Small projects must spend all LF funding and submit final reports within a one year period from the time the grant is awarded. Large projects must spend all LF funding and submit final reports within a three year period from the time the grant is awarded. If a project is not completed within the designated time period and the grant not used within this time period, the LF board has the authority to recall the grant and close out all project activities. If project activities require more than the allocated timeframe, the grantee must send a request to the Active Projects Administrator requesting an extension. In the case that this extension affects the project’s original budget schedule, an updated budget must be submitted. Acknowledging the Latvian Foundation's Support Projects receiving LF grants must acknowledge the Latvian Foundation’s support in press and promotional materials, and display LF’s logo in project-related print and web-based materials. The Foundation’s logo is the “Austras koks”. The “Austras koks” symbol can be found in the Latvian Foundation’s webpage “About Us” section, and in the “Symbols” subsection. Estimate Project cost estimates are provided by the grant recipient to outline the estimated cost of project services and materials. When applicable, supplementary documentation will be provided together with estimates. Receipt of Payment Receipt of payment confirms that payment has been made by the Grant Recipient in exchange for goods or services.