Budgets

14 Oct

Posted at 18:00h in Budgets, Competency Eight, Competency Five, Competency Four, Funder Relations, Funding, Grant Reporting, Grants Management, Professional Development, Roxanne Jensen, ED. SPEC., Strategy
Before I began working as a grant consultant, I did not understand all the details and intricacies of grant budgets, including the difference between restricted and unrestricted funds. I remember working with one nonprofit that was thrilled to receive a significant grant for program staff salaries, only to realize later that they could not move those funds elsewhere when a staff member unexpectedly left the position, and it took three months to find a replacement. They could not use any of that money for other programming or general operating expenses, which made the organization feel they had missed out on money on which they previously budgeted. This experience taught both me and the nonprofit the benefits and challenges of having restricted funding in their budgets. If you are working with grants as a consultant, or even working as a grant professional within a nonprofit, getting a handle on the differences between restricted and unrestricted grants is going to make a big impact on how you approach funding and budget development.

06 Oct

Posted at 18:00h in Budgets, Evaluation, Federal Grants, Funders, Funding, Grants Management, Organizational Readiness, Professional Development, Program Design, Strategy
You know that you need an external evaluator. Maybe your organization doesn’t have the internal expertise or time to conduct a program evaluation yourself, or a grant funder requires a third-party evaluation. Many programs—and organizations—feel that they can’t afford an external evaluation, and funders don’t always pay for program evaluations. However, if you can convince donors and funders that your program is effective and efficient, you’ll be more competitive for future funding. A strong evaluation provides valuable information for data-based decision-making to inform program refinements and continuous improvement. Funders have a limited amount of dollars to award and, therefore, want to fund effective projects.

24 Mar

Posted at 18:00h in Budgets, Megan Campbell
Like any business or corporation, nonprofit organizations must manage revenue and expenses to deliver their products and services to communities. While nonprofits have been charged with addressing the world’s most critical issues, they often lack the adequate resources required to do it. Most organizations need things like safe facilities, light bulbs, furniture, computers, printers, office supplies, etc. to function. Large organizations such as hospitals and university systems are seldom scrutinized for these kinds of “operational” expenses, yet small organizations often accept the nonprofit starvation cycle, assuming that items needed for operations should be donated, mismatched, and held together by duct tape. There is an unspoken yet oft-acknowledged expectation that small nonprofits should rely on free or donated space, equipment, and even underpaid professional expertise more than their larger counterparts.

24 Sep

Posted at 21:09h in Budgets, Organizational Development, Organizational Readiness, Shauna O'Toole
Part One of this article covered Financial Statements and the four components (Statement of Financial Position, Statement of Activities, Statement of Functional Expenses, and Statement of Cash Flows). Next, we will cover budgets and other common financial attachments. Remember, these attachments tell your organization’s story just as much as the words in your narrative, so invest adequate time in preparing these files.

14 Sep

Posted at 20:15h in Budgets, Competency Three, Competency Two, Shauna O'Toole
  Did you know that budgets and financial documents are often the first things a grant reviewer will read when considering an organization’s proposal? Sometimes grant professionals leave attachments and budgets for the end, perhaps because these documents can be confusing or intimidating to those of us without an accounting background. This two-part guide will help you correctly identify which attachment the funder is requesting and explain why it is helpful for the funder to have the information contained in each document.

30 Nov

Posted at 21:11h in Budgets, Community, Competency Three, Kellie Brunguard, Program Design, Relationships
Partnerships can be a powerful tool in communities when they are designed to support everyone involved. Much like making a homemade pie, it takes preparation, time, and trust in the process. Here are some tips and considerations when designing partnerships to make sure everyone has a slice of the pie.

12 Apr

Posted at 17:10h in AGS Staff, Budgets, Competency Four, Volunteering
If your organization or program works with volunteers, you know firsthand that these individuals are often invaluable assets in delivering your mission. While volunteer management professionals know how to communicate the intrinsic value of these services to the community and the volunteers who provide them, we have to ask ourselves…. are we as grant professionals properly communicating their monetary value to current and potential grant funders? As we continue to celebrate National Volunteer Month, let’s explore ways to express the value of volunteer contributions. This will help you to present accurate and comprehensive grant budgets that fully express the extent of your organization’s in-kind commitment.

12 Oct

Posted at 14:27h in Budgets, Competency Five, Competency Six, Ethics, Whitney Gray, GPC
We live in a world where, as consumers, we can purchase literally anything with a quick search and a few clicks. The rise of online shopping and next-day delivery has made it easier than ever to go on a shopping splurge without seriously weighing the costs and benefits of the newest gadget or the impact it will have on our personal finances. When a grant is awarded to an organization, the program staff may enthusiastically load up their online shopping carts with everything outlined in the grant budget. There is certainly a time and place for efficient procurement of approved supplies and services. In fact, federal law requires grantees minimize the time elapsing between the receipt of grant funds and the payment for allowable expenditures (2 CFR 200.305(b)). It is important for program staff to quickly implement the grant award, and typically, this means doing a little shopping.

04 Oct

Posted at 12:22h in AGS Staff, Budgets, Competency Six, Ethics, Funding
It’s normal and often encouraged to seek multiple funding opportunities for a single program, often referred to as braided funding (see Braiding Funds without Getting Tied Up In Knots – Approaching Budgets with Pre-Award and Post-Award In Mind by Julie Alsup, GPC). You might even request more funds than you need to run a program with the expectation that one or more proposals will fall through. As nonprofit organizations that belong to and are supported by the public, we should always be looking for new funding streams in case an existing source should dry up. But what if you ask for more than you need, and all the funders decide you shall receive?

31 Aug

Posted at 07:00h in AGS Staff, Budgets, Competency Four
Every grant proposal requires some type of budget. Unfortunately, some of us tend to put off this component for as long as we can. However, it should really be the starting point. When we write a proposal, it should be for the purpose of filling a gap in our budget, not just to get money for money’s sake. In a previous blog, Julie Alsup introduced the idea of braided funding. Here, let's walk you through the nuts and bolt of implementing this useful concept.