What happens if your proposal is funded? First, your organization will receive a Conditional Award. Before it becomes finalized, you need to go through a pre-award capacity review. In short, the funding agency will take a deeper look at your organization to make sure you’re capable of implementing the grant project and properly managing the funds. If there are any issues, they might assign conditions to your grant (e.g., additional reporting requirements). After that, you’ll have a conference call to hammer out the final details and then you’ll be issued a grant award notice. At that point, you’ll be off and running.