![]() Audits are guaranteed for government grant accounting, especially large grants.Report on funding according to your unique general ledger structure, avoiding risky manual processes outside your accounting system.Create segments to allocate grant dollars across multiple fiscal years, reflecting the way money is spent.Consider unique ledger codes for each grant, including coding sub-layers to track requirement nuances.Optimize the funds allocated to each grant with budget-to-actual reporting.Maintain ongoing internal monitoring to ensure compliance.Here are some grant management tips to keep in mind: Grant management, or the processes and methods behind fulfilling the requirements of a grant, can be easier through the use of a successful grant pipeline. Grant funding is an essential source of revenue for most nonprofits. Instead, a dedicated grant management software can help you build a more sustainable fundraising strategy for your organization. Hacking a CRM for your grant management will not give you the flexibility to consider different funding sources and opportunities. However, CRM-style functionality was designed to manage relationships and interactions with customers.ĬRMs were not built to diversify your nonprofit income with awards from private, corporate, or government-funded foundations. On the surface, your customer relationship management system (CRM) may seem like a suitable option to track your grant management strategy. What's Wrong with Hacking a CRM for Your Grant Management? Eventually, your spreadsheet will be caught up in complex rules or stringent compliance requirements, ultimately putting your future funding at risk. It is possible to manage your funding strategy via spreadsheets if you have just a few grants, but trying to keep track of multiple applications and grants as you grow and add new donations isn't sustainable in the long term. The truth is, spreadsheet formulas and conditional formatting are often unable to handle a complex nonprofit grant pipeline. Spreadsheets are general-purpose, are not flexible enough to handle the different requirements for different funders, and are not sophisticated enough to reflect actionable items. The grant tracking spreadsheet can be a powerful basic tool-but even the most masterful spreadsheet cannot handle all of the data required for a valuable grant pipeline. Many nonprofit grant writers will automatically default to the spreadsheet when tracking grants. They can and should have the capability to change course, add new funders, discard others, and increase or decrease your grant targets as new opportunities arise.Ī grant strategy gives you a tentative map of how to get where you want to go-the grant application pipeline is a tangible way of tracking that roadmap. Most grant writers organize grant applications according to their organization's grant strategy. That said, it’s not necessarily the best (we’ll explain more in a bit). Some form of a spreadsheet is the most common way grant writers organize their applications. A grant tracking pipeline can help you guard against budget shortfalls or a sudden flux in your cash flow. Diversifying your nonprofit income with grant awards can help you build a more sustainable fundraising strategy. ![]() If done well, a grant tracker provides data, tracks results, and organizes your grant strategy. A grant application pipeline allows you to track and plan for the time and effort that will be needed each month.įinally, a grant tracking pipeline helps you to track and forecast expected income for your nonprofit. A successful grant strategy requires a lot of time and resources each month. ![]() It also helps you hone your grant writing message and your grant writing strategy as you develop knowledge of the local funding climate and which foundations will likely make good partners.Ī grant application pipeline also allows you to track your organization's priorities, resources, and programmatic interests. A grant application pipeline is a template or system that allows you to track new funding opportunities, specific details of the RFP (e.g., amount, deadline, eligibility), and a go/no-go decision on whether your nonprofit should apply for this opportunity.Ī grant application pipeline saves you time by tracking application due dates and funding expectations while eliminating duplicative funding searches. Without the right tools to keep your grant strategy on track, the process of finding and applying for grants can get complicated very quickly. ![]()
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