The specific number of Innovation Grants the Peninsula Endowment may award in any given grant cycle will depend on a number of factors including, but not limited to, the number of IGAs submitted, the amounts requested in submitted IGAs, the quality of the IGAs submitted, and the amount of funds available to distribute during a given grant cycle. Thus, there is no specific target number of Innovation Grants to be awarded during any given grant cycle. Also note that no Innovation Grants may be awarded in any given grant cycle if the quality of the submitted IGAs does not warrant the award of any Innovation Grants, all to be determined in the sole discretion of the Peninsula Endowment.