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Crafting Opportunities: Exploring the Grant Writing Process

Allied Grant Writers

Budget A detailed account of the financial resources needed, including direct and indirect costs. When developing a budget, one should consider the following elements: Direct Costs : These are expenses that can be directly attributed to the project, such as personnel, materials, and travel.

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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.

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3 Strategies to Build Your Organization’s Financial Capacity

Blackbaud

Calculating indirect costs can be challenging. Talking about appropriate metrics with your team could help your organization shed the fear-based mentality and create a culture of transparency. Conversations about the organization’s finances do not have to elicit fear and anxiety—even when the numbers aren’t great.

Finance 119
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Elevate Your Funding Prospects: Key Grant Writing Resources Revealed

Allied Grant Writers

Evaluation Plan : A strategy for assessing the success of the project, including metrics to measure impact. Budgets should include: Direct Costs : Expenses that can be directly attributed to the project, such as salaries, materials, and equipment. Indirect Costs : Overhead costs, such as utilities and administrative expenses.

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Your Unrestricted Funds Need Stewardship, Too

Blackbaud

Many don’t cover operating costs or have a small allotment for indirect costs such as salaries, insurance, and utilities. So, the organizations behind the grants use the reporting requirements to make sure the funds go towards addressing those impact areas. Restricted funds often outline what they will fund and what they won’t.

Funding 111
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Learn How to Write Grants

Grant Writing Made Easy

This section should also outline how the project will be evaluated—detail the metrics for success and the methods for assessing progress towards the stated outcomes. Itemize and justify each cost associated with the project, from direct costs like materials and labor to indirect costs such as administrative expenses.