All requests for funds are voted upon by the Board of Trustees, and the Trust will send written notice to all applicants informing them of the Trustees' decision.

On those grants which are approved, the Trust requires the grantee to sign and accept the terms of the Agreement of Donee.

The Trust also requires an annual report due one year after the date of the grant. The grantee must allow access to its books and records by the McElroy Trust and its agents.

Furthermore, the McElroy Trust reserves the right to terminate funding at any time if funds are not being applied in accordance with grant purposes or procedures.