A Three-Part Strategy
You’ve received a grant award letter and are about to announce the good news to your support team. But just because the money is coming, doesn’t mean the heavy lifting is over. In fact, the real work has begun. It’s time to devise your strategy for accomplishing your objectives and ensuring that you meet all of the program’s requirements and expectations.
Three Essential Steps
Grantors need to gauge the effectiveness of their programs. A grantor is only as effective as the agencies it funds. Some recipients accomplish their objectives and others do not. A grantor will think twice about regranting to an organization that has mismanaged its funds.
A poor grants management strategy can result in a failed program, returned funding, potential liability, intensive auditing, or a severed relationship with a potential financial ally. Good grant management improves your chances of meeting your objectives, entices grantors to seriously consider your future requests, bolsters relationships with your grantors, and streamlines evaluation, reporting, and auditing processes.
In developing an effective grants management system, consider these three steps as a basis for your program design:
1. Ensure compliance with a grantor’s terms and stipulations by making sure you meet all of the conditions for funding as well as any legal requirements.
2. Devise a timeline that targets reporting deadlines and benchmarks for your program’s objectives.
3. Establish a roster of key personnel and a system by which you can communicate real-time evaluations and adjustments made to improve the program’s performance.
Read the full article in Grants Network: KnowledgeBase.
eCivis is the nation's leading grants management software solution and the ideal platform for improving local governments' and community-based organizations' grants performance. For more information about eCivis, visit www.ecivis.com.
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