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Why Fund Accounting Software Beats Spreadsheets for Nonprofit Grant Reporting and Compliance

sgEngage

To meet those requirements, you’ll need to be able to successfully track and manage your grants and effectively report on how you allocated these funds. If you are a grant-funded organization, it will be important to manage spending restrictions and meet reporting requirements. Tracking: Cut Out the Spreadsheets!

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Statement of Cash Flows: How Nonprofits Track Inflow and Outflow of Money

sgEngage

A Statement of Cash Flows is a detailed financial view used by nonprofit organizations to track inflows and outflows of money related to their activities during a specific time period, typically the fiscal year. It reflects how the organization funds its operations beyond what is generated through its mission-related activities.

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How to Get Leadership Buy-in for Streamlining Your Grantee Application

sgEngage

As a grants manager, you know how important it is to have a clear and efficient grantee application process. Getting your leadership on board with streamlining your grantee application may require some planning. This will help you identify areas that need improvement and the benefits of streamlining your application.

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How to Streamline Your Grant Management Process with Technology

sgEngage

Receiving requests for funding can be both a crucial and frustrating part of being a grantmaking organization. You want applications from organizations that align to your mission, but the frequency of the requests can easily bog down your processes if you aren’t careful. And what is the workflow once an application is received?

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The Ultimate Guide to Accounting Software for Nonprofits

Nonprofit Tech for Good

Instead of generating a profit that can be disbursed to shareholders or reinvested in the business, nonprofits funnel their revenue into things like research funding, program expenses, outreach, and work that directly impacts their mission. Others receive grant funding from governmental agencies, private foundations, and community funds.

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How to Minimize Risk Throughout Your Grant Cycle

sgEngage

In addition to building relationships with the organizations you support, there is some documentation you should ask for, especially for new applicants. Depending on how your application is set up, you can add an open-ended question or discuss it during a follow-up conversation. How do you track time and effort?

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7 Ways Your Nonprofit Can Build a Strong Financial Foundation in 2024

sgEngage

Create an Operating Reserve Fund (or Review Your Policy) An operating reserve is a crucial part of creating a strong financial foundation for your organization. Like an emergency fund for your organization, an operating reserve allows you time to make data-driven decisions instead of having to react immediately.