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on the bank account need to be members of the sponsoring club or district. Grants will be paid out at the Rotary
International exchange rate at the time of payment.

Grants for which the World Fund award is $50,001-$400,000, or total funding is $100,001 or more involving
directed gifts or endowment earnings (Level 2 and 3 applications), will be paid in installments according to a
spending plan. Payments after the first installment will be made after the grant sponsors submit a satisfactory
progress report and a Cadre representative conducts an interim site visit.

The following points apply to global grants funded with cash contributions:
1. All grant-related transactions will be recorded using the current published monthly Rotary International
exchange rate, and all grant-related transactions will be officially communicated in U.S. dollars.

2. For the part of the grant funded by cash contributions, sponsors will be shielded from currency exchange
fluctuations of more than 10 percent of the rate at the time it was approved. The Foundation also will not
distribute currency gains to project sponsors of more than 10 percent of the rate at the time it was
approved.

3. All cash contributions to global grants sent to the Foundation need to include an extra 5 percent to offset
processing and administrative costs. Paul Harris Fellow recognition points will be awarded on the full
cash contribution, and charitable tax receipts will reflect that amount. The additional 5 percent is not
required for contributions sent directly to a project’s bank account. Those contributions don’t generate
Paul Harris Fellow recognition points, however, and the Foundation won’t issue tax receipts for them.

4. All contributions submitted to the Foundation above the amount pledged to the grant, or sent to a grant
after the grant has been paid, will be moved to the World Fund.

IX. REPORTING REQUIREMENTS AND DOCUMENTATION

Grant recipients need to report to the Foundation how grant funds are used. Submit progress and final reports in
the Grant Center. All forms need to be entirely complete to be accepted. The Foundation won’t approve new grant
applications if a grant sponsor has an overdue report for any Foundation grant. (*See exception below.) The
Foundation may at any time review grants, conduct an audit, send a monitor, require additional documentation,
and suspend any or all payments.

These provisions also apply to grant recipients:
1. Districts need to report the use of grant funds to their member clubs according to the terms of their
qualification.

2. Grant sponsors need to keep copies of all receipts and bank statements related to grant-funded spending,
according to the terms of their qualification and applicable laws.
3. Grant sponsors who don’t adhere to Foundation policies and guidelines in implementing and financing
grant projects will need to return all grant funds and may be barred from receiving other grants for up to
five years.

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