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Pre-Award Preparation Have certain policies and processes in place before applying for a grant so you can be confident you meet their requirements and there are no surprises. Tip 1: Have your leadership drive the conversation on grant funding and the policies associated with this revenue stream. Update your policies accordingly.
So how can you minimize these errors and create data entry policies for your users? Understand Your IndirectCosts Tracking and allocating your indirectcosts is one of the most tedious aspects of grant applications and reporting. Tracking: Cut Out the Spreadsheets! Ready to tackle the tasks of grants?
Create an Operating Reserve Fund (or Review Your Policy) An operating reserve is a crucial part of creating a strong financial foundation for your organization. Tip 1: If you have an operating reserve, review your policy. Update the policy based on your current and future needs.
This is a natural consequence when several different administrative requirements documents and cost circulars are consolidated into one document, and meant to be universally applied. As overhead and administrative costs grow, organizations often scramble to find ways to recoup this funding. Let’s examine each one.
Office of Management and Budget (OMB), an agency within the Executive Office of the President, issues government-wide grants-related guidance for federal departments and agencies and is responsible for the maintenance of this document. The original document became effective in December 2014.
Regulatory Changes: Ongoing changes in government policies and regulations can affect funding, operations, and compliance, requiring constant vigilance and adaptability from nonprofit organizations. Analyze these documents to identify trends, such as seasonal variations in income or recurring expenses.
What documentation is acceptable to document compliance? Hyperlinks Are hyperlinks allowed in the document? When in doubt, include the full URL in the document but do not hyperlink it. Most funders list their policy on indirects in the solicitations. Is match (cost share) required?
That is, are you proposing a project so you can generate data, or are you collecting evaluation data to document the results of the project? And either way, you may be able to leverage your data to bring about policy changes. Knowing your institution’s policies around overhead rates is essential. on our blog ).
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