The grant proposal process is becoming increasingly competitive, and results-based funding distribution is soon to be the new norm.
For grant writers, this means that as performance grows in importance, organizations can improve their chances of receiving funding by showcasing historical results. Below we offer tips on how your organization can track and leverage grant performance data to win future funds.
Start with appropriate spending. If your current and past grants were not allocated properly toward goals, you won’t be able to demonstrate strong program performance in new grant proposals. Consistent and appropriate spending assures your organization is using funds to further organizational goals, and demonstrates your understanding of Uniform Grant Guidance cost and compliance requirements.
Create Detailed and Accurate Reports
To properly keep track of data every step of the way, develop grant management processes that comply with new requirements and regulations. Consider implementing grant management software to store data in a centralized system.
Software allows your organization to effectively track time and effort, validating the time workers spend on a program and directly correlating with their expensed wages from funding. Staff is able to enter time on a weekly or monthly basis, and supervisors can review and approve timesheets to ensure accuracy.
Grant management software also helps you easily create internal reports that identify:
- Activities undertaken.
- Deliverable timelines.
- Goals, indicators and milestones.
- Outputs and outcomes.
Internal reports not only assure your organization is staying on track, but also provide in-depth data on what your organization is capable of accomplishing. Use these reports to leverage historical data for future grant proposals.
Showcase Past Performance Data
Having solid performance data allows you to present concrete evidence to awarding agencies that your organization is capable of spending grant funding appropriately.
In addition to using past performance data to win new grants, encourage repeat funding from existing investors by providing accurate, ongoing reports on spend and performance. The more detailed these reports are, the better you’ll be at demonstrating your grant-spending and program-performance competencies.
Is your organization prepared for performance-based grant distribution? Watch our webinar on “How to Connect Performance and Financial Data.”
How does your organization boost grant proposal success? Share in the comments below.
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