It is so exciting when that email comes “Congratulations” on receiving the grant for your nonprofit organization! This achievement is significant and has the potential to make a meaningful impact in your community by helping you achieve your mission. However, the journey is just beginning, and there are crucial steps to take after being awarded the grant:??
- Express Gratitude: Upon receiving the grant notification, promptly send a thank-you note to the funder, ideally handwritten. Show appreciation for the grant and highlight how it will benefit the community. Consider acknowledging the award on social media, but ensure the funder is comfortable with public recognition.??
- Review the Grant Agreement: Thoroughly go through the grant agreement, a legally binding document that outlines the grant's terms and conditions. Understand reporting deadlines, financial requirements, and other compliance details. Mark important dates on your calendar to remain compliant and foster a trusting relationship with the funder.??
- Develop a Grant Management Plan: Create a comprehensive grant management plan that outlines procedures, policies, and practices for handling the grant. This includes program and financial management, as well as reporting requirements. Assign responsibilities for each step and ensure the plan aligns with the grant agreement.??
- Establish a Grant Management System: Set up a system to track grant-related activities efficiently. This system should encompass expense tracking, reporting tools, and program outcomes. Provide all staff involved in grant management with access to and training on how to use the system.??
- Begin the Grant-Funded Project: Initiate the project, which may involve hiring staff, purchasing equipment, or launching a new program. All activities should align with the grant agreement. If significant changes are necessary, discuss them with the funder beforehand.?
- Monitor Progress: Regularly monitor the project's progress to ensure it meets its goals. Establish a system for tracking program outcomes and reporting progress to the funder through site visits, progress reports, and other communication tools.??
- Submit Reports Timely: Submit all required reports on time, along with the necessary documentation. Complying with reporting requirements is crucial for successful grant management and maintaining a positive reputation.??
- Maintain Communication with the Funder: Cultivate a strong relationship with the funder by keeping open lines of communication. Most funders seek more than transactional experience and may want to be actively involved in the projects they support. Nurturing this relationship increases the likelihood of future investments in your organization's projects and programs.??
Receiving the grant for your nonprofit organization is undoubtedly a momentous occasion, filled with promise and potential for positive change in your community. As you embark on this journey, remember that success lies in the meticulous management of the grant and the valuable relationship with the funder. Begin by expressing heartfelt gratitude and appreciation, acknowledging the support received. Take the time to thoroughly review and understand the grant agreement, ensuring compliance and trust with the funder. Developing a comprehensive grant management plan and establishing an efficient tracking system will keep you on track and organized throughout the project. As you bring your vision to life, remember to monitor progress diligently and submit required reports promptly. Finally, maintain open lines of communication with the funder, nurturing a strong relationship beyond the grant's conclusion.?
