Types of Reports
The John Templeton Foundation requires regular reports on the progress of grants we fund. Outlined below is a full list and description of the reports required during the lifecycle of a grant:
Progress Report
Financial Report
Cost-Effectiveness Statement
Final Reports
Expenditure Responsibility Report
Typically the Project Summary is returned by the grantee to the Foundation along with the signed Award Letter. Receipt and approval of the Project Summary (and other relevant material such as Signed Award Letter, Grant Agreement, or Tax Documents) triggers the first payment of the grant.
The information in the Project Summary will be used throughout the lifecycle of the grant by the Foundation to explain the purpose of the grant. The Project Summary may be used as part of the Foundation's decision to feature or profile your grant on our website.
The Foundation provides detailed information on the content of the Project Summary in our Award Letter.
The Foundation requires that Progress Reports be submitted on a quarterly basis. These reports allow the Foundation to ensure the grant is proceeding toward the goals and objectives outlined in the proposal approved by the Foundation.
We request that each Progress Report explain in detail the activities, accomplishments and difficulties that have occurred since your last Progress Report. We use these reports to communicate new information to our Communications Department, Program Staff and Trustees.
While Progress Reports are required on a quarterly basis, the Foundation's payment schedule is on a semi-annual basis. Therefore, your second and fourth progress reports are linked to our payment cycle. No payment will be released until all previously due progress reports have been submitted.
Financial Reports ensure that the grantee adheres to the budget approved by the Foundation. The Foundation requests that you submit a Financial Report that highlights what you have spent to date against the line items outlined in your approved budget.
The Foundation recognizes that during the lifecycle of your grant you may need to revise or reallocate funds from one budget line item to another. If so, please communicate this change to the Foundation in a timely fashion via the submission of your next quarterly report.
Financial Reports are required semi-annually and are linked to your next grant payment.
Receipt and approval of your Financial Reports will trigger the next payment of the grant.
Cost Effectiveness Statements are required on an annual basis for all grants over $200,000. These statements enable the Foundation to monitor the impact of the project as measured against the projections of cost effectiveness outlined in the approved proposal. In some cases, even though funding for an approved project is under $200,000, the Foundation may request that a grantee provide an annual Cost Effectiveness Statement. This request will be highlighted in our Award Letter to the grantee.
For multi-year grants, Cost Effectiveness Statements are not required during the first year. However, Cost Effectiveness Statements are required for each subsequent year of the grant.
Receipt and approval of the Cost-Effectiveness Statement will trigger the next payment on the grant.
Optimizing Program Impact and Cost-Effectiveness
At the close of your grant the John Templeton Foundation requests several final documents:
- One-Page Conclusion Summary that encapsulates the significant achievements and outcomes from the Foundation's funding support. We use these reports to communicate new information to our Communications Department, Program Staff and Trustees.
- Final Financial Report that provides line-item detail of all expenses related to your approved budget. Please note that the Foundation may request that unused funds be returned.
- For grants operating under Expenditure Responsibility, the Final Expenditure Responsibility Report must be submitted detailing all expenditures for the last year of the grant.
Receipt and approval of the Final Reports will trigger the final payment on the grant. Please note that failure to submit the final reports may result in the forfeit of the final payment.
Expenditure Responsibility Report:
This report is required by March 31 of each year covering all expenditures from the previous calendar year on all grants operating under Expenditure Responsibility. Grantees not operating under Expenditure Responsibility can disregard this reporting requirement.
The Expenditure Responsibility Financial Report will be reviewed and approved by the Foundation staff before the scheduled payment is released. It must be received no later than March 31 of each year and cover all expenses of the previous year.