Foundation-sponsored projects may have specific requirements for requirements or restrictions on unexpended funds. Usually, the agreement will state whether they need to be returned to the sponsor. Contact your RAS CA if the agreement is silent.
Continuing the Project
If a foundation sponsor approves a request for funds to be used to continue the project, they may issue a no-cost extension, a modification or a new agreement. If a new agreement is issued, the sponsor may require the use of the existing account structure, or new account structure. If a new account structure, work with your RAS CA to set up the accounts for VPF to transfer the unexpended funds.
Restrictions on Use
Even if the sponsor does not require that unexpended funds be returned, some foundations may restrict their use. Contact your RAS CA if the sponsor approves keeping unexpended funds.
Updated December 15, 2025