New Growth Group, LLC

Our November 2024 newsletter, with a focus on our fabulous Evaluation and Analytics team, cyber forecasting, and insight from our CFO (Chief Furry Officer), Winston!

Federal Grant Success Starts with Smart Budget Planning ?? Want to strengthen your federal grant applications? Start building your budget NOW, before the funding opportunity is announced! Here's why early budget planning is crucial: Knowledge is Power ?? - Know your true program costs - Understand your organizational capacity - Identify potential funding gaps - Plan for both direct and indirect costs - Calculate accurate cost-sharing requirements - Determine resources Early Planning Helps You: ?? - Build realistic cost projections - Identify needed partnerships to fill resource gaps - Document cost justifications - Align resources with program objectives - Develop sustainable funding models Pro Tips for Success: ? - Research salary scales and fringe benefits - Document your indirect cost rate - Plan for both personnel and non-personnel costs - Consider multi-year budget implications - Include evaluation and reporting costs - Factor in inflation and cost increases A well-planned budget tells a story. It shows potential partners and funders you've thought through every aspect of your project and are ready to be good stewards of federal funds. New Growth offers Strategic Initiative Services and pre-grant coaching! Contact us for more details on how we can help you build a competitive application.

We are deeply grateful to all of those who have served our great nation.

Thank you Lissy Rand and Alethea Vicktoria Ganaway for speaking to the women of WISE Pathways about manufacturing and engineering careers this week! The future of manufacturing is looking bright! #womeninmanufacturing #womeninengineering

Get Ahead of Federal Grant Applications: Start Planning Now! ?? The secret to creating competitive grant applications is to start planning BEFORE the Notice of Funding Opportunity (NOFO) drops! Here's why developing your project plan early is crucial: Your Objectives: Set Clear Goals ?? - What specific problems are you trying to solve? - What outcomes do you want to achieve? - How will success be measured? - Who are your target beneficiaries? - What is your timeline for implementation? Your Activities: Map Out the Journey ?? - What specific services will you provide? - How will you deliver these services? - What resources and partnerships do you need? - How will you track and report progress? - What infrastructure needs to be in place? Pro tip: Having these elements defined makes it significantly easier to align your proposal with federal priorities once the opportunity is announced. Plus, you'll have more time to focus on the technical aspects of the application rather than basic project planning. Remember: Strong federal applications aren't created overnight. The more preparation you do now, the better positioned you'll be to submit a competitive proposal. New Growth offers Strategic Initiative Services and pre-grant coaching! Contact us for more details on how we can help you build a competitive application. #FederalGrants #ProjectPlanning #GrantWriting #NonprofitFunding #GrantPreparation

New Growth Group: October Newsletter

Competitive Grant Applications: Two Key Steps to Take Before the Opportunity Drops To avoid scrambling when the perfect federal funding opportunity is released, here are two critical steps to take now that will set you up for success: 1. Assemble Your Dream Team ?? - Designate a Point of Contact (POC) for the overall application - Appoint a Technical POC to handle data and methodology questions - Assign a Budget POC to manage financial aspects Why? A well-rounded team ensures all aspects of your application are covered by experts, increasing your chances of crafting a compelling proposal. 2. Develop Your Project Concept and Logic Model ?? - Outline your project's goals, activities, and expected outcomes - Create a visual representation of how your project will work - Identify key metrics for measuring success Why? A clear project concept and logic model demonstrate to funders that you've thought through your approach and can articulate your impact. By taking these steps now, you'll be ready to hit the ground running when that perfect grant opportunity is announced. Plus, you'll have more time to refine and strengthen your application instead of starting from scratch. What other preparation strategies have worked for you? Share in the comments below! #GrantWriting #NonprofitFunding #ProjectManagement #TeamBuilding

Happy Indigenous Peoples Day from all of us at the New Growth Group.

This year's Build to Scale program is in full swing and as we help our clients develop a compelling application for funding, this is an excellent guide for rural communities, for which there has historically been a set aside of up to 40% of funding. Winning application normally have a few key features in common, such as strong local leadership; innovation-friendly institutions; a skilled workforce, industry composition, and business volatility; and access to capital.

Exploring the world of funding opportunities can be a challenge. Our grants team put together a helpful glossary of terms to ensure you know how to speak the language! Grants Glossary NOFO: Notice of Funding Opportunity; An announcement of a federal grant funding opportunity. It provides all the information potential applicants need to apply for the grant. NOA: Notice of Award; A legal document that notifies the grantee and others that a grant award has been made. It contains or references all terms and conditions of the grant. FOA: Funding Opportunity Announcement; Similar to a NOFO, it's a publicly available document by which a federal agency makes known its intentions to award discretionary grants or cooperative agreements. FY25: Fiscal Year 2025; The fiscal year for the U.S. federal government runs from October 1 to September 30. Cost Share: The portion of project costs not paid by federal funds. This can be cash or in-kind contributions. Match: Similar to cost share, it refers to the non-federal share of project costs that the grantee must contribute. Some grants require a specific percentage match. Leverage: Additional resources brought to a project beyond the grant funds and required match. These can be cash or in-kind contributions that enhance the project's impact (e.g. staff, equipment, facilities, etc.). Intent to Issue: A pre-announcement indicating that a funding agency plans to release a formal funding opportunity in the near future. LOI: Letter of Intent; A brief document expressing an organization's intention to submit a full grant proposal. Some funders require or request an LOI before inviting a full application. UEI: Unique Entity ID; A 12-character alphanumeric ID assigned to an entity by SAM.gov. SAM: System for Award Management; The official website of the U.S. government where entities must register to do business with the U.S. government, including applying for federal grants.