Prepare for Grants Management
Before you build a full grants program, it’s important to ensure your organization has the systems and processes in place to manage the funding you receive. Winning grants is only part of the work. Managing grant awards effectively is essential to maintain credibility with funders and position your organization for future funding.
Grants management includes all the administrative and programmatic work required to properly use grant funds and fulfill the terms of the award. A grant award is a contract between your organization and the funder. That contract defines:
- How funds may be used
- How spending and outcomes must be reported
- The timeframe covered by the award
Managing grant awards well is critical for several reasons. First, strong stewardship builds trust with funders, increasing the likelihood of renewal or additional funding. Second, having defined processes improves internal efficiency by giving staff clear tools and systems to manage reporting, finances, and...
