Tuesday, April 9, 2013
How Do You Track Grants? The Hard Way or the Easy Way?
(Beth Huffman, Foster Results)
So you’ve received a new grant award? Congratulations! Now, you sit back and relax. Right? Not so! I’m sure you’re aware the hard work has actually just begun.
When your nonprofit has received a grant, it’s your responsibility to the funder to be compliant with their requirements and report to them correctly. Effective systems and processes to manage the grant should to be set up from the beginning.
Grants management does not have to be hard, painful or complex, but a challenge that many nonprofits encounter is related to growth. Perhaps a nonprofit began with receiving just one or two grants; those weren’t so hard to manage. As the organization grows to have many grants, however, management of the grants becomes overwhelming if a system was never set up to track information and report effectively.
Good grants management systems are not created nor maintained in isolation. A good system requires a team effort...
Read the full article.