Nonprofit Accounting

Top 10 Tips for Better Grant Management

Best practice resources for nonprofit financial leaders

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800.443.9441 | | August 2018 1 In the white paper Best Practices for Grant Management: Mapping Success at Five Leading Organizations, I interviewed leaders from five organizations that manage grant funding. Several best practices surfaced through those conversations, so let's take a closer look at the top 10 tips for better grant management. 1 Focus on the why. Clearly communicate objectives to staff and make information more readily available, so it's easier for people to do their jobs."If we can become more efficient, we can have better information and better data to manage things," Nelson Nava, CFO of HumanKind, says. "And if we can maximize our output and minimize our expenses, we will be able to serve more individuals." 2 Learn the requirements. The OMB's Uniform Guidance (i.e., 2 CFR 200) for government grants is extensive and can be intimidating. In addition, grantors often have their own nuanced set of conditions as well. Review requirements before applying for or accepting awards to ensure that you understand what is necessary to effectively manage the grant and if the grant lifecycle is good fit for your organization. "Money comes with strings attached, so be sure you are willing and able to honor each [grant] without putting the rest of your business at risk," advises Steven Canum, CFO of Senior Resources of West Michigan. 3 Learn the language and history. In grant management, communication is key. However, grantees sometimes run into difficulty deciphering the lingo between different funding sources. This can make it challenging to understand and effectively meet grant requirements. TIP SHEET Top 10 Tips for Better Grant Management BY LUCY M. MORGAN

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