How do I get a 40% Advance on my Arts Grant?
From Carol White, Associate Director of Operations –
Many TN Arts Commission grants include an option for a 40% advance payment to assist with startup costs for a new project or fiscal year. If provided, you may request a 40% payment of your grant award prior to the activity, after there is a fully executed contract and you have submitted FY20 Title VI non-discrimination training certification.
To receive funds, you must submit a Request for Funds Form. All Request for Funds forms can be found in Grants Management – Reports Due in the left-hand menu of the Online Grants System.
From the menu, click on the 1st Request for Funds Report. When it opens, click the edit button at the top of the page. To request the 40% advance, scroll down to “Version” and choose the 1st Request for Funds-40% Advance option in the drop-down menu. Now click save at the bottom of the form. This will allow the page to populate with the correct form fields for this request. Note that if you are requesting funds for 40% of your total award in your first draw, you do NOT have to include check numbers and the amount automatically calculates.
To finish the 1st Request for Funds, click the submit button at the bottom of the page. Don’t forget your FY20 Title VI certification—that’s the single biggest reason for the 1st Request for Funds forms to be sent back.
Annual grant recipients may also choose to request all grant funds in one draw. When you have spent your matching funds already and would like to close out the grant, choose “Closeout” from the drop-down menu, save, and click the edit button again to show the correct form fields for this request. In addition to the Request for Funds, annual grantees must complete a separate Final Evaluation with Itemized Expenditures in order to closeout.
For more tips on how to manage any of TN Arts Commission grants, see https://tnartscommission.org/manage-your-grant/. Now is a great time to make sure you understand how to meet the public accountability requirements for your grant. Also, if you are a new grantee or have an address change, you must submit a new W-9 form. If you have questions anytime during the year, contact your program director.
