An Overview of the ASME Strategic Priorities Grant Fund Process
The purpose of the fund is to be certain ASME has consistent annual new program development; funds are targeted for broad-based, cross sector proposals for program development that further the ASME strategic initiatives approved by the Board of Governors, as are projects that are outside "business as usual" of the proposing unit. Requests to the Grant Management Committee (GMC) can be submitted at any time but are reviewed quarterly. Grant proposals should be submitted using the ASME SPGF form. The GMC will make a recommendation to the ASME President and Executive Director for requests up to $50,000. Requests over $50,000 require approval by the ASME Board of Governors.
Funding ASME's Strategic Priorities
Based on the recommendation of the Committee on Finance & Investment (COFI) the Board of Governors may approve funding from two sources:
- Surplus funds from the ASME fund balance, if any. Funds may or may not be available each year and are subject to ASME's financial performance.
- A sum equal to a percentage range of the previous year's operations budget. This sum is made available through program prioritization, "sunsetting" of existing programs and net revenue generated through new program activity.
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