Why we ask for feedback about your grant.
John Moores Foundation is a local funder that gives out grants to some of the same organisations numerous times. Because of this our trustees use the monitoring information that we receive back at the end of each grant to inform future funding decisions.
Every applicant organisation has a paper file which applications, correspondence and monitoring information is stored in over time. Every time a new application is received; we review the applicant’s files and write a report about previous grants to go along with the current application to the trustees meeting.
The more information that a grantee feeds back to JMF about its year, what happened with the grant and the benefits, the more that we can tell the trustees.
In addition to this, setting up good monitoring and evaluation systems and being able to report back on your collected information empowers organisations to see if they are reaching internal targets and also highlight successes to other funders and stakeholders.
Community Interest Companies, whilst having social objectives, are not charities and their assets are not under the direct regulatory framework of the Charity Commission in the same way.
Funding a CIC requires enhanced oversight compared to funding a charity, because the trustees of the funding body retain ultimate responsibility for ensuring the funds achieve a solely charitable purpose that benefits the public.
As a result, going forward, when funding CICs, in addition to requesting monitoring feedback via the online monitoring form, John Moores Foundation will also request the following information at the end of each grant:
*A copy of the minutes from the directors’ board meeting after receiving the grant from JMF, which will minute the receipt of the grant, the amount awarded and what it is to be used for,
*A copy of the CICs management accounts / company income and expenditure for the period / year of the grant. This is in addition to the financial accounts, which are often published much later.
