By Laura Miller with Kate Yaughn
Grants management is often overlooked or barely given a passing glance. But large grants management is essential to the functionality and funding of nonprofits and associations that depend on those grants. Without professionals who know how to effectively manage grants, associations would be left high and dry! However, in addition to hiring competent grants managers, associations should also make sure that they are using the best practices possible in order to most efficiently manage grants funding and proposals.
So, what are the top 5 best practices for managing large grants?
- Learn the funder’s requirements for reporting and financial management.
- Build timelines with adequate flexibility to accommodate multiple rounds of reviews by clients and funders.
- Document as much as possible! Decisions, processes, strategies, successes, challenges – keep records on all of it!
- Celebrate your team members and their successes. The work is challenging, and it takes a team to achieve the goals of the grant.
- Set standing meetings. If the agenda is light, the meeting can be canceled, but that is much more efficient than looking for availability across multiple schedules when issues arise.
Are you looking for a new professional grants management company to call home?