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

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You’ve been grant shopping for some time now, but are you prepared for what’s next once you start to receive them? Many grants come with significant—and detailed—compliance requirements. If you are a grant-funded organization, it will be important to manage spending restrictions and meet reporting requirements.

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Need a New Grant Management System? 5 Tips for Selecting the Best GMS for Your Foundation

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But inertia is not an option when your grant programs outgrow your current solution, or your vendor sunsets the software you use, like Salesforce is doing with their grant management software, FoundationConnect. This includes reviewing your process documentation or creating it if necessary.

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How to Streamline Your Grant Management Process with Technology

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Receiving requests for funding can be both a crucial and frustrating part of being a grantmaking organization. To avoid overwhelming your team, standardize how you receive and process grant applications at your organization. Statuses will help you know which task needs to be performed next for the request under review.

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5 Considerations When Updating Your Grant Application

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It’s important to review your grant application periodically so you can incorporate new features in your grantmaking software and new ways to meet the needs of your grantees. Here are five questions to consider as you start to update your grant application. How well does your application match your funding priorities?

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Your Unrestricted Funds Need Stewardship, Too

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All in unrestricted funds with no reporting necessary. While nonprofits will hopefully see an increase in unrestricted funds—and a decrease in burdensome reporting requirements—as part of this and other movements, good nonprofit accounting principles still apply. What Are Restricted Funds? What are Unrestricted Funds?

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How to Minimize Risk Throughout Your Grant Cycle

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But on occasion, a person will make a mistake or doesn’t follow the restrictions for the grant. To mitigate risk throughout your grant cycle, you need to know your grantees through relationships and documentation, support their internal controls, and set up a process for whistleblower complaints. How do you track time and effort?

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10 Tips for Better Grant Management Processes

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While grant funding may not require the continual stewardship efforts and nurturing of traditional donor-led funding, it often presents its own challenges: extensive reporting mandates, a list of requirements to qualify for funding, and the possibility of mission creep to meet those requirements. Focus on the why.

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