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Fund Custodian has ultimate responsibility for the management of the fund and compliance with policy and standards, including the requirements outlined in this standard and the Grant-Making Standard. The Fund Custodian acts as the primary point of contact for matters related to the fund. In some cases, the Fund Custodian may receive and distribute monies on behalf of the church/ministry. The Fund Custodian signs a Master Grant Agreement on behalf of the church/ministry and acts as a representative for all parties associated with the church/ministry. The fund custodian should normally be a Reliant employee or associate. In rare exceptions, a vetted individual who is not a Reliant employee or associate may act as a Fund Custodian with appropriate approval. The Fund Custodian agrees to receive training/tutorials on forms, processes, and procedures for grant requests.
Authorized Signer(s) is authorized by the church/ministry to approve transfers, reimbursements, grants, and other payments from the church/project fund as outlined on the original church/project fund request form. Fund Custodians are typically also Authorized Signers. In many cases, the church/ministry designates one or more Authorized Signers in addition to the Fund Custodian.
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Restricted Church/Project Funds may be requested by Reliant ministry partners regardless of whether that partner has Reliant employees/associates. The individual who will become the Fund Custodian may request the fund by submitting aa Restricted Church/Project Fund Request Form to their Program Team, with the following information completed:
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Master Grant Agreement: Church/Project funds are created to receive donations, and grants are used to distribute monies for those funds. Therefore, a Master Grant Agreement must be signed at the time of submission of a new church/project fund request to ensure a proper understanding of grant use when monies are distributed. The Master Grant Agreement is attached to the Church/Project fund request form and is signed by the Fund Custodian and a Reliant representative. It includes an acknowledgment and approval of the requested purpose of the fund by both parties. It also includes an acknowledgment that the Fund Custodian read and agrees that all parties associated with the fund will follow the Policy and Standards. If the purpose of the church/project fund changes, an addendum to change the purpose outlined in Master Grant Agreement is required and must be signed by both parties. |
Approval:
The Reliant Board of Directors delegates to Reliant leadership the authority to approve church and project funds. If deemed necessary by Reliant leadership, the Reliant Board may be asked for their additional approval. The Program Team will oversee all church/project fund requests, including obtaining approvals, coordinating with relevant departments, and finalizing fund set up.
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