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Just as we finally got our footing from a global pandemic and spinning up programs to support communities dealing with extreme weather events, now federal policy shifts have grantmakers and grantees alike scrambling. Here are three ways funders can support their grantees now and in the future.
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. Ready to tackle the tasks of grants? Tracking: Cut Out the Spreadsheets!
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.
Regulatory Changes: Ongoing changes in government policies and regulations can affect funding, operations, and compliance, requiring constant vigilance and adaptability from nonprofit organizations. Capital Costs: If applicable, costs associated with purchasing or upgrading physical assets for the program.
So that you are ready to maximize the opportunity to ask questions, it’s useful to have a list of potential issues in mind that may need clarification. Most funders list their policy on indirects in the solicitations. Is match (cost share) required?
And either way, you may be able to leverage your data to bring about policy changes. If you spot a foundation that supports projects in your field, but has a “no unsolicited proposals” policy, even though there appears to be a fit, we advise you to cross the foundation off your list and move on to better prospects. on our blog ).
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