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The Corporation awards grants to nonprofit organizations and institutions for projects that are broadly educational in nature and that show promise of having national or international impact. Certain appropriations are made for activities, such as Corporation-led initiatives that are administered by the foundation's officers. The trustees set the overall policies of the foundation and have final authority to approve all grants above $50,000 recommended by the program staff. Grants of $25,000 or less, called discretionary grants, are made upon the approval of the president and are reported to the board; larger discretionary grants, those between $25,000 and $50,000, are also reviewed by a Corporation-wide group, which makes recommendations to the president. (from Program Guidelines 2003-2004 (http://www.carnegie.org/sub/program/areas.html))