Grant Status Timeline
You can view your grant status at each stage of the grant process to gain further insight into the the status of your grant.
On the Overview page, scroll over to Grants > click directly on the grant to see it's status in a timeline view:
This will bring you directly to the grant where you can see which stage it's in, and the correlating dates for each completed stage. You'll notice we've changed and added new statuses:
Grant Submitted
Grant Approved
Grant Processed
Grant Sent
Grant Received
You can also view the grant status timeline by clicking Grant History, or clicking the present icon in the top right corner.
From there you can click on the grant to pull up the grant status timeline:
AssetMark Charitable reviews, processes, and approves grants on a daily basis. Below is a helpful graphic showing the granting process:
**Please keep in mind once we've reached the last step, the grant is out of our hands. The charity may receive the check and not cash it right away. Please reach out to your advisor if you have any questions on a recent grant.
Understanding the Grant Statuses
There are seven possible grant statuses:
Submitted: Your grant has been submitted for review.
Pending: The grant recommendation has been created, but the charity has not yet gone through the due diligence process.
Approved: Charity due diligence was completed and charity found to be eligible. In addition the grant note was reviewed for incidental benefit. The grant recommendation is then deemed approved
Processed: The grant money has been initiated to disbursement account; grant payments are prepared, reviewed, approved, and then released and sent to charity.
Received: The grant has been received by charity (the charity has cashed the check or the ACH payment has cleared their account)
Rejected: The request did not meet eligibility criteria.
Canceled: The user canceled the grant submission.
Grant Processing Timeline
When a grant is submitted, there is a sequence of events that take place from the submission date until the charity receives the check/ACH payment.
Please keep in mind that the following timeline assumes there is no additional diligence needed for the grant and the liquidity process for funding the grant is in good order. The timeline is based on business days:
Day 1: Grant is submitted
Day 2: Grant is reviewed and approved within 2 business days
Day 3: Liquidity request is sent to AssetMark Charitable operations team
Day 4-6: AssetMark liquidates and sends the funds on next business day of settlement.
Day 7-9: Funds are received within 2-3 business days from when they were sent
Day 10-12: Payments are released to the charity within 3 business days from when the funds were received.
**ACH payments are received by charity within 2-3 business days
**Checks are received by charity within 1-2 weeks