Risk Assessment FAQ

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  Questions Answers
1 How should we report current assets? You may use the current assets figure generated from your accounting system as long as it matches the amounts reported in your most recent audited financial statements. Our instructions require applicants to base their financial data on the latest audited financials, so no additional documentation is needed unless the numbers differ. If there is a discrepancy, you add a brief explanation.
2 What types of grants should be included in the “total grants” figure? Please include all grants your organization received during the most recent fiscal year. This includes private foundation grants, trust funding, and government grants. The risk assessment does not differentiate between funding sources, the intent is to capture your total grant revenue.
3 Do we need to upload our IRS Determination Letter even if nothing has changed? Yes. Please upload your organization’s IRS Determination Letter confirming your tax-exempt status, even if it has not changed.
4 What qualifies as “experience administering similar programs”? This may include experience managing federal, state, or comparable nonprofit grants, or operating programs similar to the one being funded.
5 What does it mean to have a financial management system capable of tracking grant funds? Your system should be able to separately record program revenues and expenditures from all other organizational activities.
6 We aren’t sure whether our timekeeping system is compliant. What should it include? A compliant system must account for 100% of an employee’s compensated time, including both grant-funded and non-grant-funded work.
7 What types of policies and procedures are required? Applicants must have written procedures for federal payment requirements, cost allowability, procurement (meeting 2 CFR 200.317–327), conflict of interest, record retention, and internal controls.