With new open data laws expected to pass in Washington, there has been much buzz around how these policies will impact grant management processes.
In a nutshell: To effectively monitor grant performance and maintain compliance, organizations will need to systemize and automate data collection and reporting. Both grant funders and recipients will be affected by these changes—government agencies and nonprofits alike.
Laying the Foundation
Demands for transparent and accessible government spending resources have pushed government officials and interested parties to draft legislation that would make this possible: most notably, the DATA Act.
If passed, the DATA Act will require standardized processes to report grant data. The result of which will be clear insight into federal spending through aggregated reports.
What Will Change
As the DATA Act continues to move through Washington, the Office of Management and Budget (OMB) will need to adapt regulation standards to comply with stricter conditions. Changes will be seen across cost principles, administrative and audit requirements, and will include:
- Increased compliance regulations to fit standardized processes
- Firmer reporting requirements
- Increased frequency of reporting
- Machine readable data reporting
The breadth of new compliance requirements will leave grant managers with more tasks and roles than ever before. However, this does not mean grant management needs to be more time consuming.
The New Grant Manager
As the environment and nature of your business changes, so too must your operations. Grant managers need to be proactive in onboarding new tools and processes to make a seamless transition into the new era of reporting.
In a survey we conducted, it was found that 97% of grant management offices use ad hoc ‘systems’ such as spreadsheets, word processing documents and file folders to keep important documents pieced together. These systems, however, are not designed nor equipped to efficiently manage increased reporting requirements coming down the pike.
To stay compliant, on track, and organized, public entities and nonprofits should consider grant management software to more readily meet new mandates. Such software enables you to consolidate important documents, schedule reminders and deadlines to ensure compliance, and ready data for machine-readable reporting. Cloud-based solutions also allow you to access the information from anywhere with an Internet connection, and are easy to implement with little-to-no added infrastructure for your organization.
To learn more about the changing landscape of federal reporting, please download our free whitepaper.
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As your organization arms its current board, also keep an eye on the board of tomorrow. Aid the education of youth and prepare them for possible board involvement later.
The 2011/12 National Survey of Children's Health, results found that 78.8% of youths ages 12 to 17 are involved in community service in some capacity. This suggests that younger generations are seeking civic engagement.
Yet, in a study conducted by The Bridgespan Group, 594 nonprofit leaders disagreed with the statement: "Our organization is highly effective in developing a strong internal and external pipeline of future leaders."
Nonprofit organizations have the unique opportunity to engage with younger audiences to develop, and nurture, lifelong supporters.
It’s never too early to begin future-proofing your nonprofit board; here’s how.
Invest in Youth Programs and Engagement
By providing involvement opportunities in philanthropy, governance and general community outreach, your organization can empower young leaders. Hands-on learning and experience imprints young minds, helping them understand the importance of nonprofit and charity work.
Embrace youth involvement to provide your organization with more diverse points of views and a wider volunteer base.
Investing time and energy into youth programs can also yield benefits for organizations that are worried about long-term sustainability and vitality of goals and mission. Encourage youth groups to adopt your organization’s values now with the hope they will continue to support your mission as they age.
Implement Junior or Young Advisory Boards
Some organizations have already successfully begun influencing youths toward a better understanding of board processes and governance.
Most notably, the Girl Scouts of Eastern Pennsylvania allow girls age 14 and up to serve on the board as “Girl Advisors to the Board of Directors.” Through this program, girls have a voice in organizational decisions and the ability to influence agendas, actions and implementation.
As stated In Nonprofit Quarterly: “These girls hold the same position as the adult delegates, and are expected to apply the same diligence to studying the issues before voting.”
Like the Girl Scouts of Eastern Pennsylvania, create direct serve opportunities for teens to grow with your organization. In addition to programs targeting youth, add leadership groups for college students and/or a Young Advisory Board for young professionals. This way, individuals have a path to follow to progress into your nonprofit’s leadership roles.
Also, consider inviting members of Young Advisory Boards or student groups to attend board meetings. This gives them an insider’s look into governance opportunities, and demonstrates that you value their opinions and ideas.
Create an Attractive Environment for the Next Generation
Upcoming generations are a more tech-savvy demographic than their predecessors. Constant exposure to technology has led to a lifestyle of being ‘always-on’ and hyper-connected.
With these generational differences come both challenges and opportunities. For one, this generation will bring innovative thought processes, solutions and ideas with fresh sets of eyes. However, due to their attachment to technology, organizations may need to adjust their current processes to entice participation.
To prepare for your future board, start thinking now about how technology can make communication and collaboration easier among members. Tomorrow’s leaders will expect the connectedness they experience today in their personal lives to carry over into business and volunteer experiences.
Better connect with, and prepare, the boards of tomorrow, and arm your organization with a strong pipeline of talented and dedicated members.
What is your organization’s stance on early involvement?
As you engage your future board, don't forget to engage your current board. Board engagement is vital to the success of board agendas and missions:
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Government initiatives, like the DATA Act, would provide greater transparency into federal spending, higher levels of accountability and better fraud detection.
These new standards, however, have a direct impact on both the grantors and recipients of federal dollars—adding another layer of complexity to an already complex system.
Is your organization prepared?
Here’s what you need to know about the changing face of grant reporting:
Why Data Reform is Necessary
The 2008 recession, misuse of funds during Hurricane Katrina relief and recent federal budget cuts have left taxpayers and some government officials demanding more transparent processes to track government spending.
Current data collection procedures are not uniformed across agencies. Information is fragmented—stored across various databases and in incompatible formats. This makes it impossible to aggregate ROI reporting and leaves funds susceptible to misuse.
A centralized federal database is needed to make transparency, accountability and fraud detection possible. This starts with the standardization of data.
How the DATA Act Impacts Grant Reporting
Calling for a public and accessible view of government spending, the DATA Act is the driving legislation behind grant reporting reforms.
In its current form, the DATA Act would put the Treasury Department in charge of creating standard data requirements for reporting federal dollars, so that data can be aggregated, reconciled and published. In addition, an advanced analytics platform will be used to seek out waste and fraud across all federal spending.
As a result, grant managers must adopt new strategies to win funds, drive revenue, increase capacity and improve compliance
Reform’s Impact on Grant Managers
Don’t be left behind. Proactive agencies and organizations have taken note of impending changes and have already begun to reform their systems and processes. Others should follow suit and develop more organized, automated methods to track spending and fund allocation.
Grant managers must understand reporting standards, and build their financial and record-keeping systems around them. With books in order, reporting becomes easier and more time efficient.
Also, with greater insight into ROI, performance-based grant distribution is on the horizon. The sooner recipients can track money spent to actual results, the better their organization will be at winning future funding.
How Reform Can Benefit You
As mentioned above, better reporting will allow future funds to be awarded based on historical effectiveness of grantees. If your agency is able to show consistent success and appropriate allotment of grant dollars, you gain a leg up in the fight for future funds.
But that’s not all—data standardization and automation advancements could extend efficiencies into your organization’s reporting processes.
Free Whitepaper: Insights from the Experts
For more on the changing landscape of federal reporting requirements and data transparency standards, download our whitepaper.
Within it, you’ll find insights from those in the trenches, including:
- Michael Wood, former executive director of the Recovery Accountability and Transparency Board
- Hudson Hollister, founder and executive director of the Data Transparency Coalition
- Jesse Buggs, director of the Office of Grant Development & Administration, City of Bowie, Maryland.
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We are excited to announce the launch of AmpliFund 4.0! This completely revamped grant management platform gives grant managers far greater control over the grant lifecycle, streamlines processes and ensures compliance. All of this results in more revenue generation for your organization. Read on for details.
Increased Flexibility and Control
No two organizations are the same. This is why AmpliFund 4.0 was designed with far greater flexibility in mind. Easily adapt the platform to meet unique management and reporting needs. Everything from project and fund mapping to reports generated can be tweaked to make sure you have the information you need, when you need it.
- Track budgets and performance at the fund, fund distribution, grant and project levels. No matter how you need to see financials and success, you’re covered.
- Enjoy added flexibility in how you can map projects to grants. Previously, you could link multiple grants to one project. Now, you can also segment one large grant into smaller projects, giving you even more powerful tracking capabilities.
- Track cash receipts from multiple fund sources into one fund, then distribute via one or more grants. Funders can now easily track money coming in and out of the fund—across multiple fund sources and award recipients.
AmpliFund 4.0 helps grant managers get more done in less time. With fewer resources spent on administrative tasks, staff can dedicate more effort into achieving grant goals and obtaining additional grant funding.
- Foster organization-wide system adoption thanks to a new, intuitive user interface and step-by-step guides.
- Keep track of multiple grants, grant goals and budget items all in one location, eliminating the need to keep multiple Excel spreadsheet versions updated.
- Grant access to sub-recipients and vendors to minimize manual data collection.
- Hold internal and external parties responsible for tasks assigned to them through built-in calendars and automated reminders.
- Apply powerful list filters to view only the data most pertinent to you at that moment, and then save them for easy access later.
StreamLink Software was one of only a few vendors to work closely with the Recovery Board on the Grants Reporting Information Project (GRIP), which is a large part of the DATA (Digital Accountability and Transparency) Act. This has afforded us valuable insight into planned regulations, which we’ve used to help guide the creation of AmpliFund 4.0. This translates to better compliance for your organization both now and in the future.
- Gain valuable oversight on the performance and budget activities of consortia grants. Lead recipients can easily assign responsibilities and track performance of sub-recipients to ensure grant parameters are met.
- Avoid the headaches associated with producing after-the-fact documentation of time and effort put in by staff, especially those working across multiple grants.
- Easily generate downloadable reports of financial and performance data to share with funders and auditors. Information can be sliced and diced in an unlimited amount of ways to meet your exact reporting requirements.
Interested in learning more?
Think about how much paper you use for board meetings throughout the year. Pamphlets, handouts, printing costs, envelopes and postage all add up both financially and environmentally.
Studies estimate that 10 to 30 percent of paper usage can be reduced through the strategic implementation of technology.
Technology solutions, like board portals, eliminate wasted resources and help your board adopt more efficient, green processes.
Reduction of paper waste yields financial benefits. A byproduct of waste is inefficiency. Whether it is time allocated to locate documents or funds spent on paper resources, waste is toxic to any nonprofit’s efforts.
Instead of spending money on paper, ink and shipping, do more with less and apply that money to activities that further your organization’s mission.
Financial benefits go beyond these supply savings too. Board efficiency sees maximum potential when important documents are provided in an easily accessible manner. Lost materials can derail meetings and leave members unprepared—a common outcome of paper-based processes.
With a board portal in place, board members no longer have to remember to bring documents or rummage through piles to find them. Instead, each member has a unique login to a secure site where meeting information is stored. This increased efficiency allows for more time to be allocated toward revenue-generating discussions.
As you revise processes to allow for the financial benefits associated with cutting paper usage, also consider the environmental ones.
With half of the world’s tropical forests already cleared, the classic tale of The Lorax seems to be a not so distant fate. While the root cause of deforestation lies in metropolitan settlements and agriculture, thirty percent of trees harvested in the United States are manufactured into paper goods.
Paper also plays a large and direct role in the landfill crisis. Thirty-two percent of landfills are made up of paper goods, which emit toxins as they degrade.
The case for more environmentally friendly processes is proven and justified. Reduction of paper usage, even in the smallest of ways, can end unnecessary waste. Available technologies provide simple solutions to put your organization on the green track.
The Paper Adds Up: A Look at the Numbers
Imagine the situation using board and committee packets as examples. Once all committee reports, finances and other pertinent data are included, it’s not uncommon for foundations and colleges to have upward of 100 pages per board packet and 10 pages per committee packet.
Based on industry benchmarks, we estimate that nonprofits spend $1,343.34 on paper annually for these packets alone, or $83.96 per board member.
Note: This does not include misprints or labor costs, or productivity and profit gains seen through more effective use of time and resources. Oberlin College analyzed the cost of printing, binding and mailing board and committee packets to its members, and found it cost $300 per year per member once all factors were included.
Paper Used — Board Meetings:
Board packet (pages)* = 100
Total pages of paper per meeting = 1,600
Board meetings per year (average) = 7.1
Pages of paper per board meeting = 1,600
Total pages of paper per year = 11,360
Paper Used — Committee Meetings:
Committee packet (pages)* = 10
Number of people per committee** = 3
Total pages of paper per meeting = 30
Number of committees (average) = 5.5
Committee meetings per year*** = 12
Total number of meetings = 66
Total number of meetings = 66
Pages of paper per committee meeting = 30
Total pages of paper per year = 1,980
Estimated Paper Costs:
Purchase cost per sheet of paper = $0.003
Printing cost per sheet of paper = $0.03
Mailing cost per sheet of paper = $0.06
Short term storage cost per sheet of paper = $0.0067
Disposal costs per sheet of paper = $0.001
Total cost per sheet of paper = $0.1007
Total pages of paper per year = 13,340
Total cost per sheet of paper = $.1007
Total annual paper cost = $1,343.34
Those same 13,340 sheets of paper translate into 1.6 trees.
Sheets of paper from 1 tree = 8,333
Total pages of paper per year = 13,340
Number of trees used annually = 1.6
This example looks at one tiny piece of the paper equation to show how costs and environmental factors can add up even in the smallest of ways.
Think about all the paper your organization uses to manage its operations and communication on an annual basis. Are there ways you can cut back to save?
Here at StreamLink Software, we have taken the pledge to run a greener operation, have you? Schedule a demo of BoardMax to learn how you can achieve a paperless board.
* Estimates based on the number of files uploaded to BoardMax by our customer base.
** Uses average board size (16) and average number of committees (5.5) data, and then assumes that each person only serves on one committee.
*** Assumes committees meet monthly.
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The first round of sequester cuts began on March 1, 2013 as part of a provision in the Budget Control Act of 2011 (also known as the debt-ceiling compromise). They were enacted mainly due to a lack of compromise between Republican and Democrat parties on the fiscal budget.
The sequestration, which arbitrarily cuts government funding across the board, has had damning effects on both nonprofits and the communities they serve. Exacerbated by the recent government shutdown, many nonprofits are without the funds needed to respond to growing service demands.
Budgeting for fiscal year 2014 would reevaluate the sequester cuts. However, in the wake of the government shutdown, these talks remain stagnant. While the government reopened, no decision was made on the mandatory spending cuts, keeping them in place until at least Jan. 15, 2014.
Immediate Impact on Nonprofits
Even before the sequestration hit, many government entities were failing to pay nonprofits in a timely manner as established by their agreed-upon contracts. According to a National Council of Nonprofits article, 68% of nonprofits with government contracts reported problems with performing services due to breached contracts.
The sequestration could worsen the situation. For example, according to a USA Today article, it is estimated that states may lose $4.2 billion with federal funding cuts in 2014. Yet, “because states have already enacted their fiscal year 2014 budgets, a second round of sequestration would force them to make changes on the fly.” While the ball is still in the court, this could mean cutting back on grant money previously offered.
When the government fails to pay, nonprofits need to look elsewhere in order to fill budget gaps. Time and energy are shifted from carrying out services to finding funds.
Government cuts have limited the number of government grants available, and reduced or shortened others. As an example, FEMA cut state and local grant funding by more than $100 million this past March. With competition for funding fierce, nonprofits that can tie activities to performance have a clear advantage.
Nonprofits with direct government funding must plan budgets accordingly due to uncertainty of payments and cuts. This affects their abilities to carry out planned services, and forces organizations to again focus energies on fundraising.
Indirect Impact on Nonprofits
The burden of the sequestration does not fall solely on the nonprofits that receive direct funding from the government. The brunt is felt by all nonprofits that need to step in for the government in areas they can no longer fulfill.
Nonprofits have increasingly been looked upon to fill gaps created by government defunding, causing an uptick in service demands. As explained in Associations Now: “When government stops, payments aren’t delayed only to nonprofits. Programs that provide food stamps, housing vouchers, and veterans services will also grind to a halt, which creates a vicious cycle for nonprofits.“
This, in turn, forces nonprofits to have a better understanding holistically of where funds are used throughout their organizations and how they are being allocated. It also forces organizations to become more efficient at raising funds and managing operations. Nonprofits are feeling the pressure more than ever to step in where government no longer can/will.
How has the sequestration and recent government shutdown affected you?
For a look at how to maximize your nonprofit’s capacity, efficiency and grant ROI, read our ebook, Finding Your Grant Management Software ROI.
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In recent years, many organizations are quick to blame a troubled economy or a change in the giving demographic when fundraising efforts result in underwhelming numbers.
We know that raising funds in a troubled economy is very challenging, but what if we told you that corporations have increased their charitable giving by 38% since 2007? That said, while you may struggle now, there’s a brighter future ahead.
A better engaged board is a great first step as you look to increase funds in good times and bad. Leverage your board members for fundraising success with the below tips.
1. Optimize and Utilize the Board You Have
Having the right board is crucial to your organization’s fundraising efforts. Your board members are the face of your organization and should be your biggest advocates.
Yet, one in four board members are not fully engaged with their organization’s mission. For progress to prevail, this needs to be rectified from within through better onboarding of new board members; improved communication of organizational goals, plans and results; and integration of feedback channels.
Advocate for your mission and ensure that your board is aware that their fundraising directly affects the success of fulfilling organizational goals. Communicate in terms of how funding affects those you serve, not just the organization’s operational needs.
2. Promote the Strength of Successful Communication
Your board is the lifeblood of your fundraising efforts. When they are unengaged, fundraising suffers.
Low engagement is usually due to an unclear understanding of responsibilities. When you appoint board members, clearly communicate what is required of them. Align priorities at the start, and regularly check in on board members’ commitment and participation levels.
Opt for review meetings separate from regularly scheduled board meetings. Do this once a year to keep big picture communication lines open. In these meetings, set your objectives, review efforts, revisit strategy and reorganize based on the year’s results.
3. Promote Goals and Responsibility
Once your board understands the importance of fundraising, the next step is to employ the right tools to achieve success.
- Provide board members with talking points and collateral that they can use to better explain the organization’s mission and goals to prospective donors.
- Set up systems to track board fundraising performance by member. Set goals and hold board members responsible for hitting them.
- Maintain a searchable database of board member affiliations and connections. This way, if a specific need arises for in-kind or monetary donations, you know who within your board may be able to best help you obtain the resources.
- Regularly share organizational performance insight with board members on how funds are being used. Include tangible metrics on results achieved.
- Solicit group feedback on ways you can improve your organization’s fundraising efforts overall and improve service delivery.
Keeping your board focused on fundraising doesn't need to be a tired task. Provide your board with the tools and resources they need to perform duties to the best of their abilities. Optimized processes will result in maximized fundraising capabilities.
What does your organization do to achieve greater fundraising success?
Learn how a board portal can help your organization’s fundraising efforts by scheduling a demo today.
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With the economy still in recovery and the need for grants growing, competition for funding escalates. To gain a leg up on others and separate themselves from the crowd, nonprofits need to be more strategic in pre-award activities.
Below is advice to help you apply for the right grants, write compelling proposals and streamline grant application processes.
1. Apply for the Right Grants
When applying for a grant, first make sure that your organization is eligible.
Many times, grant writers begin a proposal and realize later that they aren’t a perfect fit. For example, perhaps it is a sponsorship or individual grant, and they are only eligible for public charity, nonprofit or federal funds. Or, maybe, there are specific implementation or reporting requirements that must be met.
Evaluating opportunities can be a timely process if you don't know where to look. Websites like Grant Station and Grants.gov curate available grants for easy search ability by category, eligibility and agency. Certain software solutions are also designed to expedite this process. With the right tools, you can search within your eligibility realm, and find summarized and relevant information with the click of a button.
Don’t waste your time, or the funders. Submit only those grant proposals that match your organization’s mission and goals, and improve your chances of success.
2. Write Compelling Proposals
Finding the appropriate grant is only half the battle, the other half is writing a well thought out, persuasive proposal. Funders know that you are looking for an investment; have your proposal stand out more than the usual “chasing money” application.
Create an in-depth plan before you begin to write. This will help keep your message targeted and demonstrate consistency. Stick to these writing tips when drafting:
- Spell out exactly how the money will be used, and the audience it will benefit.
- State measurable, quantifiable actions rather than broad plans.
- Use clear, concise and actionable language.
- Include implementation timelines.
- Tie planned activities to goals and performance metrics.
With changes in federal award reporting coming down the pike and funds from private foundations becoming more competitive, organizations with the processes in place to track results against objectives will have a clear advantage. Highlight these capabilities in your proposals.
3. Streamline Your Grant Application Processes
Only 61% of time spent on pre-award tasks, such as grant writing, results in actual funding. This is why streamlined processes are so vital. Look for ways to increase efficiency through automated tasks, streamlined communication, improved workflows, and status tracking of pending grants.
The more time available, the more grant proposals you can submit. Better processes can also reduce application errors and inconsistences—making your applications stronger. Gain a competitive advantage with increased efficiency and accuracy.
Could you use an edge over your competitors to win funding? Share the strategies you use to tip the scale in your favor below.
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Have you ever stopped to think about how much time and money your organization spends on grant management? Consider all stages of the grant process, including award applications, pre-award tasks, maintenance and grant reporting.
Unnecessary administration time in these areas places a burden on your organization’s operations, using up resources that could be dedicated to more mission-critical activities.
Below, discover ways you can cut administration activities, and improve the ROI of your most-valued resource—time.
Where Does the Time Go?
To reduce administration time, you must first understand where problems lie. While each situation is unique, the majority of time typically goes toward maintaining ad-hoc systems, updating spreadsheets, manually notifying employees of deadlines and gathering information for grant award reports.
On average, organizations spend 720 hours annually on grant administration. Imagine the time you could put toward revenue-generating tasks if you were to minimize the unnecessary time-suck of inefficient processes.
Use our workbook to help you map out your current grant management process, define your goals and requirements, and plan process updates. Commit to efficiency at every step, and reap capacity rewards.
Leverage Technology for Success.
Grant management software can help your organization run more efficiently. With it, better streamline processes and reduce time spent on administration tasks.
1. Cut the Waste. Automate.
Don’t waste time on tedious and drawn out tasks, such as manually reminding employees of deadlines, segmenting projects and obtaining supervisor approval. While simple, they are unnecessarily time consuming. Instead, use technology to automate processes throughout the life of a grant, and save resources.
With the DATA Act picking up speed in Washington, grant compliance will become more complex. Simplify reporting with bulk or batch XML filing. In doing so, reduce manual submission effort and better integrate with existing management systems.
2. End the Scavenger Hunt.
Ninety percent of the people that we surveyed use ad-hoc systems, such as desktop filing, word processing and siloed spreadsheets, to organize important documentation.
Because of this, time is often wasted sifting through nested files and spreadsheets to find information.
To increase capacity, organizations must commit to consolidating and storing important documentation in one easily searchable and accessible location. We recommend a cloud or web-based management solution for this type of secure file storage and access to minimize any IT infrastructure or maintenance.
3. Remove the Time Vortex Created by Silos.
When organizations suffer from communication silos, time management suffers as well. Stemming from disconnected departments, unclear duties and responsibilities, and inconsistent procedures, silos increase the time spent on administrative tasks, maintenance and approval requests.
Focus on centralized information to create more efficient and timely communication. Integrated calendars and delegation capabilities are two helpful features to achieve silo-free workplaces.
Organizations that implement a grant management solution increase grant revenue by an average of 15%. This increase is attributed to reduced resource waste and increased time for strategic revenue-generating activities.
With more time on your hands, how would your organization use it?
For more on how the ROI of grant management software, check out our ebook.
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When awarded a grant, does your organization receive every dollar pledged? For many, the answer is “no.”
Organizations we surveyed lost 5% of awarded funds because they were not drawn down during their allotted timeframe. Incompliance, missed deadlines and unorganized processes are usually to blame.
When a grant is awarded, a set of guidelines comes with it. This includes where money needs to be allocated, how long the process should take, and reporting deadlines. If these stipulations aren’t met, your organization risks forfeiting funding.
Why settle for less than the amount awarded? Grant management software can help your organization receive the full amount of every awarded grant.
1. Clear Eyes. Clean Calendars.
Often times, a deadline is missed simply because there isn’t a system in place to track progress and remind you of important actions and dates. Eliminate the guessing game and map out a concrete plan to meet grant deadlines and allocation calendars.
Grant management software offers features such as built-in calendars, automated reminders and full lifecycle reporting. These features help eliminate missed deadlines; ensuring the full grant is drawn down.
2. Stick to the Agenda
Another common way you may not receive the full potential of a grant is if you allocate money to items that weren’t outlined in the grant parameters.
Grant management software allows you to track every penny of a grant through all phases of the cycle. This way, you can guarantee that money is being spent in an appropriate and approved manner. Keep all relevant documents in one central location, including approved budgets, receipts and timesheets for easy ongoing tracking.
3. Continuously Keep Track
The third way in which organizations often forfeit grant money is by losing track of documents, receipts and expenses. Without the ability to prove that money was allocated appropriately, the grantor has no choice but to withhold a percentage of the award.
Put the processes in place to track every expense applicable to the grant. Monitor activity ongoing, compare to set goals and allocate funds as approved. This ensures that all money is available for drawdown.
Don’t forfeit money that has already been awarded to your organization. Implement grant management software, and help your organization drawdown every penny you worked so hard to earn.
For more on the ROI of grant management software, read our ebook.
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