Award Management / Advanced Payment Cash Budget Updates (2022.08)

In August & September 2022, AmpliFund is releasing 2 new features for Grant Makers. 

Award Management features the ability for grant makers to add pre-defined fund activity categories and configurable subjects to Funds, Opportunities and Awards.  Additionally, with Award Management, Grant Makers will have enhanced user security permissions by leveraging departments on Funds, Opportunities and Awards.  

Advanced Payment Cash Budget features the ability for Grant Makers to control whether recipients can apply for and receive awards that allow for advanced payments. This can be configured at the account, opportunity, or award level.  If advance payments are allowed, applicants can request an advance of their award in whole (Advance Payment) or in part (Working Capital), depending on what the funder allows. If the applicant requests an initial partial advance, they can also request a specific amount of funds they will need on hand throughout the life of the grant (Working Capital Rate). The Initial Advance and Working Capital make up the Payment Schedule for the grant, which indicates how much and when the funder will provide advance payments to the recipient.  For awards, the funder will set up and approve the final advance payment amounts and schedule.