10 Oct Exploratory
Exploratory grants are used by organizations to explore the feasibility of a transaction. Grants may be used to pay for such things as external facilitators, consultants, and the costs of bringing decision-makers together. Prerequisites include the support of the leadership of each organization, as well as key members of the participating boards; the rationale for the potential transaction; and, if grants will be used to pay consultants, a formal engagement letter with deliverables and the process by which the particular consultant was selected. The Fund will make exploratory grants only in situations that it believes are reasonably likely to lead to a transaction being implemented. Exploratory grants will not exceed $25,000.