Final Reports will be reviewed by R2AC Staff for a profit of 20% or more. If there is no profit, or a profit of less than 20%, no action will be taken. Profits that are under 20% can be used for future arts activities by the grantee or within the grantee’s organization. If there is a profit of 20% or more, the grant recipient will be contacted and informed that the Board will be voting to approve the grantee’s intended use of the profit.
A motion for approval of the grantee’s intended use of a profit of 20% or more will be on the board agenda for the next board meeting.
A letter will be sent to the grantee confirming whether the board approved, or did not approve, their use of the profit of 20% or more.