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Why Fund Accounting Software Beats Spreadsheets for Nonprofit Grant Reporting and Compliance

Blackbaud

With a fund accounting software system designed for nonprofits, you can fully track all your grants, especially restricted grants, in one place. Fund accounting software can allow you to accurately curate grant reports to track restrictions, set budgets, and audit grant awards. Ready to tackle the tasks of grants?

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The Financial Edge: Crafting Budgets for Grant Success

Allied Grant Writers

The primary parts of a grant budget include personnel costs, project expenses, and administrative and indirect costs. software, hardware). Funders often have guidelines on how much can be allocated for indirect costs, making it essential to understand these limits when budgeting. conferences, site visits).

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13 Tips for Ensuring Government Grant Compliance for Your Nonprofit Organization

Blackbaud

Identify a place to store documentation, including applications and relevant policies, in a place where everyone has access, such as within the grant record within your fund accounting software or a cloud storage tool. Tip 4: Calculate your indirect cost or make an intentional decision to use the de minimis rate.

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Crafting Opportunities: Exploring the Grant Writing Process

Allied Grant Writers

Key elements of grant guidelines may include: Eligibility criteria (who can apply) Project scope and objectives Required documents (e.g., This section outlines the essential elements of a grant proposal and offers valuable insights into crafting a persuasive document.

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7 Ways Your Nonprofit Can Build a Strong Financial Foundation in 2024

Blackbaud

Calculate Your Indirect Cost Rate Complete and correct cost allocation is key to the financial stability of your organization. If you aren’t including indirect costs—such as salaries or rent—into your funding requests or program planning, you are setting yourself up for stress later in the year. Watch an on-demand product tour today.

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Statement of Cash Flows: How Nonprofits Track Inflow and Outflow of Money

Blackbaud

Below, we provide more detail about this document and why it plays such a key role in successful financial management. Indirect Method: Starts with net income and adjusts for changes in non-cash items and changes in working capital to arrive at cash flows from operating activities. How Do Organizations Use the Statement of Cash Flows?

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The Nonprofit Administration Dilemma: How Much Should You Spend on Fundraising?

Get Fully Funded

These are also known as indirect costs, expenses that cannot be tied directly to programs. Donor management software and other technology tools used for raising funds. proper documentation and categorizing of expenses is part of the deal you strike with the IRS when you get 501c3 status. Expenses related to events.