The entire grant management lifecycle, from pre-award planning to post-award reporting, can be intimidating at first. This is especially true for a small organization or team, or for someone who is just getting started with a new program.
However, with the right tools and processes in place, you can run an efficient program that accomplishes your mission while also keeping your sanity.
Many grant-making organizations frequently request reports on how the funds were disbursed and what progress was made. These reports can be difficult to create using manual systems.
With an effective grant management system, you can maintain transparency with granting organizations, ensuring they are kept up to date on your use of funds as well as any other information they require.
Effective grant management is essential throughout a grant’s lifecycle, which can be divided into three stages: pre-award, award, and post-award.
In the PRE-AWARD PHASE , keep in mine the following general steps:
First, make sure you are eligible.
Conceive an internal strategy.
And also, complete, develop and submit your application.
After award is granted:
Revise original budget based on the grant awarded.
Assure and certificate the grant received.
Make sure you received Notification of Award by the funding entity.
Get the actual the money.
Finally, during the post- award stage, it’s important to:
First, Make use of funds according to the spending plan.
Second, Fill out progress and financial reports.
Be transparent about changes made to the original spending plan.
And last but not least, have all the documentation needed for closing out and allowing audits, if requested by the funder.
For more information on the 3 stages of grant lifecycle, visit: https://www.cdc.gov/grants/lifecycle-overview
If you’d like access to additional grants available, sign up for an Addy & Mark Business Account.
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Disclaimer: This resource is for information purposes only. The company is not directly related to The Dope Million in anyway. Always check your resources’ original website for updated information