The John Templeton Foundation provides grants to individuals and organizations through contractual Grant Agreements. Each Grant Agreement consists of two parts, a narrative describing the general conditions of the grant and a Term Sheet detailing the specific expectations of the grantee and Foundation in regard to the particular grant.
The narrative section of the Grant Agreement outlines the general conditions that apply to all grants with the John Templeton Foundation, ranging from communications guidelines to compliance and prohibited use of funds.
The Term Sheet is based on a standard template used to create clear expectations of the specific terms to which both parties to the particular grant agree. The Term Sheet consists of the sections of the Full Proposal that cover a general description of the project, all financial terms, the duration of the grant, the specific outputs and outcomes, and a detailed payment and reporting schedule.
The Grant Agreement will be generated by the Foundation's staff within four to six weeks of approval of the grant. It will be signed by a representative of the Foundation and sent to the contract signatory designated in the Full Proposal. The grant will begin at the project's specified start date, assuming the Grant Agreement has been countersigned and returned to the Foundation by that time.