As a grant professional, do you ever feel like you’re trying to put together a puzzle in the dark? Or solve a crossword with no clues?
With grant guidelines to decipher, funds to manage, and a myriad of other moving parts, it’s no wonder that grant management can feel overwhelming. But fear not!
In this article, we’re going to shine a light on the intricacies of pre-award and post-award grant management, breaking down the key activities of each and highlighting their significance. Our goal is to demystify these processes by offering a step-by-step guide that will empower you to navigate the grant lifecycle with confidence.
So, let’s dive in and explore the journey from grant prospecting to project implementation, ensuring that you have the resources and support you need to succeed at every stage of the process. Let’s go!
Pre-Award Phase
The pre-award phase is the first stage of the grant lifecycle and lays the foundation for success before the grant is awarded. Here, the focus is on crafting a compelling narrative about your nonprofit’s impact and reliability as a grant recipient.
In the next few sections, we’re going to outline the key steps in the pre-award phase, explain how to successfully execute each, and provide you with some helpful resources to support your success.
Internal Strategizing
Strategic planning is the cornerstone of effective grant seeking. Here’s how your organization can strategize internally to set itself up for success:
Refer to Your Strategic Plan: Start by aligning your grant-seeking efforts with your nonprofit’s overarching goals and objectives. Referring to this strategic plan will help you determine grants that are a good fit for your organization and will inform your overall grant strategy.
Clearly Define Your Grant Strategy: Develop a strategic annual grants strategy for your organization. Take into consideration any new initiatives you’d like to launch or expected growth within your existing programs. Also think about how much revenue you already have committed for the year versus how much you think you will need.
Collaborate With Your Colleagues: There are internal stakeholders that you should seek input and perspective from as you develop and execute on your organization’s grant strategy to ensure that it is feasible, comprehensive, and aligned with organizational capacity.
Risk Assessment: Conduct a thorough risk assessment to identify potential challenges and develop risk management strategies. Consider both internal and external factors that could impact project success, such as staffing changes, funding fluctuations, or changes in regulatory requirements.
Speaking of both risk and collaboration, here’s a tip from Matt Hugg, President & Founder of Nonprofit Courses:
In the rush to get out a proposal, it’s easy to forget to review your systems to properly receive funds and account for expenditures. Warn your accounting office that you’re applying so that they’re ready for your questions after you get funded. They may even have issues you need to address before you apply!
By prioritizing internal strategizing, you can position your nonprofit as a strong and prepared grant applicant, maximizing your chances of securing funding and achieving your goals.
Identification of Grant Opportunities
The next step of the pre-award process is grant prospecting. This can be time-consuming, but utilizing Instrumentl can simplify the process of identifying grant opportunities that are a good match for your organization:
1. Smart Search Functionality: Instrumentl offers powerful search capabilities that allow you to filter grants based on criteria such as funding amount, location, and focus area. Start by entering keywords related to your organization’s mission or the specific program you’re seeking funding for.
Insider Tip: We suggest you choose 2-3 fields of work (or keywords), which creates a wide enough scope to find relevant grants.
2. Refined Results: Narrow down your search results by applying filters such as grant type, deadline, and more. This ensures that you’re only viewing grants that are relevant to your organization and align with your funding needs.
3. Detailed Grant Reviews: Once you’ve identified potential grants, take the time to review the details carefully. Pay attention to the funder’s priorities, eligibility requirements, and any other specific preference they may have to ensure they’re a good fit.
4. Grant Research Checklist: For a more comprehensive guide on conducting grant research, check out this Grant Research Checklist. This checklist covers essential steps such as understanding grant guidelines, identifying keywords, and aligning your proposal with the funder’s preferences.
Here’s the bottom line: Instrumentl empowers grant professionals to quickly identify good-fit funding matches, saving time and maximizing efficiency throughout the entire lifecycle.
Preparation of Grant Proposals
Once you’ve identified some good-fit grant opportunities, the next step in the pre-award process is preparing a grant proposal.
Create a Workplan: Develop a detailed grant proposal workplan that outlines the tasks involved in completing the grant proposal, taking into account the deadline for submission. Allocate sufficient time for drafting, revising, editing, and obtaining feedback from your team. This ensures that you can meet the submission deadline without feeling rushed.
Familiarize Yourself With the Submission Format: Some funders may provide specific templates or require you to submit proposal components separately. Familiarize yourself with these requirements early on to avoid last-minute scrambling.
Craft a Compelling Proposal: Craft a clear and compelling proposal that communicates your program’s objectives, activities, and anticipated outcomes while highlighting the impact your organization intends to achieve. Ensure alignment with the funder’s priorities and adhere to formatting guidelines and word limits. Utilize this comprehensive guide on proposal writing for tips and insights to support your success.
Here’s one more thing to keep in mind—most grants require you to submit a project budget along with the proposal. Putting together a grant budget can be tricky, but there are a lot of resources out there that can help you!
Here’s some expert advice from Jacob B. Chase, CEO at Chase Consulting Solutions, about developing a strong budget:
Present a budget that is realistic and feasible. Avoid overestimating or underestimating costs, and clearly outline all budget items (provide detailed explanations for each expense in your budget narrative or justification). Funders want to see that the organization has thoroughly considered the financial aspects of the project.
By following these steps and tapping into all of your available resources, you can effectively prepare and submit grant proposals that resonate with funders and increase your organization’s chances of success.
Submission Process
Now that your proposal is complete, it’s time to submit! There are a few things that you should do to make sure your submission process is as smooth as possible:
Conduct a Thorough Review: Proofread your proposal carefully for errors. We recommend that you get feedback from your team members for a fresh perspective. You can also tap into free resources like Grammarly or ChatGPT for assistance with editing and proofreading!
Create a Checklist for Requirements: Who doesn’t love a checklist? Create a checklist of all required submission items. Double-check the formatting of your proposal as well as the word limit to avoid disqualifying yourself due to an oversight.
Finish Early: Set an early deadline for yourself so that you don’t end up working against the clock. I always set my deadlines a week in advance of the actual grant deadline to make sure I am done with plenty of time to submit. Instrumentl’s grants calendar can help you see all of your upcoming deadlines in one place so that nothing gets missed or falls through the cracks.
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Now that you’re an expert in all things pre-award phase, let’s transition to the post-award part of the grant lifecycle.
Review and Return the Grant Agreement
Winning funding is exciting, but it’s important to not get lost in the celebration—once you receive a grant award, there’s even more work to do!
First and foremost, acknowledge the funder and thank them for their support of your project.
Sarah Lange, CEO and Founder at Sarah B Lange, LLC, explains:
Send out a heartfelt thank you letter within one week of receiving the grant. If they’re not already on it, add them [the funder] to your communications list… Remember - foundations think of themselves as change makers, so you want to show them how they’re making a difference!
After you thank the funder, the next step is to ensure that you return all required paperwork—especially the grant agreement!
ICYMI: The grant agreement outlines the specific requirements, expectations, and restrictions associated with the funding, including reporting deadlines, allowable expenses, and programmatic milestones. It’s super important to review this agreement to ensure that you comply with all of the funder’s stipulations.
Once the grant agreement is reviewed and approved, it’s important to submit all requested information and documentation to the funder. This includes things such as financial reports, progress updates, or any other documentation that is necessary for the timely disbursement of the grant award.
Additionally, you may find that your organization needs to make staffing adjustments to accommodate the requirements of the grant-funded program. This could involve hiring new staff members with specific skills or reallocating existing staff to different roles.
Project Implementation
After you acknowledge the grant and return all required paperwork, the next step in the post-award phase is project implementation. Here are some best practices, tips, and tools to help you navigate the project implementation phase:
Develop a Detailed Project Plan: Use a grant project plan to keep yourself and your team on track during the implementation phase. In your plan, be sure to clearly define your objectives, timelines, milestones, and deliverables. Assign roles and establish communication channels for updates and feedback. Here’s a tip—use SMART criteria for setting project goals and objectives.
Monitor Progress: Track progress regularly against your plan, identifying and addressing issues or deviations as soon as they arise. Implement progress meetings with key stakeholders such as the finance team, programs team, etc., to check in on the project and openly discuss any challenges or obstacles that might have popped up. Open communication is key!
Don’t Underestimate the Value of Grant Management Tools: I can confidently tell you that Instrumentl is my number-one choice for post-award grant management software. Instrumentl boasts functions such as document storage, reporting features, and budget spenddown tracking. Even better, it allows for seamless collaboration with your grants team, ensuring everyone stays on the same page and understands what they are responsible for.
Financial Management
Sound financial management is essential for ensuring the success and sustainability of your grant project.
Here are some tips for budget and expense tracking as well as financial reporting:
Regularly review and update the grant budget to compare actual spending against projected costs.
Implement a robust expense tracking system to monitor spending and ensure compliance with grant requirements. Instrumentl’s spenddown tracking feature can help you and your team track grant expenses in real time!
Document all expenses accurately and maintain detailed records of receipts, invoices, and other financial documentation.
Adhere to all required financial reporting requirements from the funder.
Provide clear and transparent financial statements that outline income, expenses, and budget variances.
Communicate any significant financial developments or challenges to the funder in a timely manner.
Here’s some insight from Matt Hugg, founder of Nonprofit.Courses:
“Not keeping up a line of communication with the funder about how the money is spent and whether it is consistent with what you predicted in your proposal is a big mistake. Funders will be understanding of changes IF you keep them informed about why they need to occur.”
Reporting and Evaluation
When it comes to reporting on your grant-funded project, it’s important to understand the distinction between interim reports and final reports:
Interim reports provide updates on the progress of your project before its completion. These are usually submitted incrementally over the course of the grant period, such as quarterly, or even at the halfway mark.
Final grant reports summarize the project’s outcomes and achievements over the entire grant period. These are submitted at the end of the grant period and demonstrate to the funder the impact of their donation.
Pro Tip: When drafting your grant reports, make sure to include measurable evaluation findings to demonstrate the impact of your project.
Lastly, tapping into your evaluation findings is a great way to gain insights for future grant applications. Learning from what worked (and what didn’t) can help lead to further future success.
Close Out
Completing a grant successfully involves several key steps to ensure a smooth closeout process and maintain a positive relationship with the funder:
Submission of Required Documents
Submit all required reports as specified in the grant agreement.
Ensure all accompanying documentation, such as financial statements and programmatic data, is provided accurately and promptly.
Financial Obligations
If applicable, submit final invoices or request the final disbursement of award funds to close out financial obligations.
Verify that all financial transactions related to the grant are accurately documented and reconciled.
Communication with Funder
Follow up on any feedback provided by the funder regarding reports or project outcomes.
Express gratitude for the support received and reiterate your organization’s commitment to the funder’s mission and goals.
Relationship Building
Use the closeout process as an opportunity to strengthen your relationship with the funder.
Discuss potential future collaborations or funding opportunities and express interest in continued partnership.
Mary Gladstone-Highland, Partner at Spark Group Consulting, shares her insight on how to build strong relationships with funders:
“Communication is key. Any opportunity to collaborate with a funder is a way to build a deeper connection.”
Mastering the pre and post-award phases of grant management is essential for nonprofit organizations seeking to secure funding and maximize their impact. By understanding the nuances of each phase and implementing best practices, you can support your nonprofit in streamlining your grant-seeking process and increase your chances of success.
In this article, we’ve highlighted key activities and provided valuable resources to guide you through these critical grant stages. As you embark on your grant journey, we encourage you to leverage the tools and insights we’ve outlined here to navigate the entire grant lifecycle with confidence.
And don’t forget—Instrumentl can support your success at every step of the grant lifecycle. Sign up for your 14-day free trial today!
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