Eligible organizations seeking grants from Cold Noses Foundation should be prepared to track and report expected and actual expenses with proper receipt documentation submitted online in the report form. This report should track all monies funded to the organization and if found that funds were not appropriately distributed, the foundation will report the offending organization to the necessary government agencies for fraud. A report of project outcomes must be made available to all contributors. If accepting granted funds from Cold Noses Foundation, the receiving organization promises to uphold the highest standards of business conduct in its relationship to the public.
By accepting funds from Cold Noses Foundation, the receiving party acknowledges that board members of Cold Noses Foundation reserve the right to inspect accounting reports related to the grant or the organization in general, as well as to physically witness the actual use of the funds. Cold Noses Foundation will require a copy of the last calendar years’ financial data such as but not limited to; a profit and loss report, a balance sheet and a statement of cash flows. This is to determine whether your organization has, in the opinion of the board of directors of Cold Noses Foundation, used its funds productively and responsibly.
Any attempts to use the granted funds for purposes other than those for which it was intended will result in such organization being reported to the proper governing agencies by Cold Noses Foundation, Inc.
Upon granting of funds, Cold Noses Foundation will outline in writing the acceptable uses of the fund and will use this document as a checklist when observing and inspecting recipients. Any applicants who have been previously granted funds from Cold Noses Foundation will undergo financial review if more than one year has passed since the last grant. To comply with U.S law, Cold noses Foundation will check that the names of persons with whom we are directly dealing are not on the OFAC (Treasury Department’s Office of Foreign Asset Control) list of Specially Designated Nationals and Blocked Persons. The penalties for providing a grant to a group or individual on this list can range from the foundation having its assets frozen, to losing non-profit status, to criminal penalties.
Any organization granted funds that does not adhere to these guidelines illustrated above will be required to pay back in full, the funds granted by the Cold Noses Foundation.