Grant Management Basics

We are a small nonprofit and we just got our first major grant. We want to do things right. What advice do you have?

Managing a first major grant can be an exciting opportunity for a small nonprofit. Here are some basic recommendations to help ensure success:

1. Understand the Grant Requirements: Hopefully, you did this before you applied for the grant! That said, this is a good time to thoroughly review the grant guidelines and requirements. Make sure you understand what is expected from your organization. Make sure you’re clear on the objectives, reporting deadlines, budgetary restrictions, and any other conditions attached to the grant.
2. Create a Project Plan: Develop a detailed project plan outlining how you will utilize the grant funds to achieve the proposed objectives. Break down the tasks, assign responsibilities, and set realistic timelines for completion.
3. Establish Clear Communication Channels: How will you keep everyone who is involved in the funded project on the same page? Maintain clear communication channels both within your nonprofit and with anyone outside who will be involved in implementation. Regular meetings and updates can help keep everyone informed and engaged.
4. Track Expenses and Budgets: Unless the grant you received is for general operations, use of the funds is typically restricted to the purpose for which the grant was awarded. Implement a robust system for tracking expenses related to the grant and regularly monitor your budget to ensure you’re staying within the allocated funds. This will help you avoid overspending and ensure compliance with grant requirements. Be prepared at any time to show how you have spent the grant funds.
5. Document Everything: Related to number four, keep detailed records of all activities, expenditures, and outcomes associated with the grant. Accurate documentation will not only help you meet reporting requirements but also provide valuable insights for future grant applications.
6. Build Relationships with Funders: Cultivate positive relationships with the grant funder(s) by keeping them informed of your progress, sharing success stories, and expressing gratitude for their support. This can increase the likelihood of future funding opportunities and potentially lead to ongoing partnerships.
7. Evaluate and Adapt: Regularly evaluate the progress of your grant-funded project against the established objectives and be prepared to adapt your approach if necessary. Collect feedback from stakeholders and use it to make informed decisions about how to best utilize the grant funds.
8. Comply with Reporting Requirements: Ensure that you meet all reporting deadlines and provide the required documentation as outlined in the grant agreement. Failure to comply with reporting requirements could jeopardize future funding opportunities.
9. Celebrate Successes: Take the time to celebrate milestones and successes achieved through the grant-funded project. Not only does this boost morale within your organization, but it also demonstrates to funders the impact of their investment.
10. Plan for Sustainability: Consider how you will sustain the outcomes of the grant-funded project beyond the grant period. If you did not have to do this as part of the application process, it’s time to develop a sustainability plan that outlines strategies for continued impact once the grant funding has ended.