How To Successfully Manage Your Grant Award

by

Tiffany P. Townsend

For Women in Film and Video of Washington, DC(WIFV)

October 23, 2013

Overview

• What to do upon receipt of the grant award• Properly storing grant related documents• Tracking grant project deliverables and reporting

deadlines • Preparing and submitting grant reports• Additional Tips• Conclusion

Finding out the good news

• Congratulations on receiving a grant!

Now What?

• Although a major achievement within itself, it is only the beginning of the funding process.

• Appropriately managing your grant is a significant part of building solid relationships with your funders.

• It demonstrates that you are a good steward of their funds, and sets the stage for future grants.

Planning for Success

Upon receipt of the grant award letter

• Read the grant agreement thoroughly!

• If possible, have an attorney review it to make sure you fully understand it, and to spot red flags.

• If all of the terms are acceptable, sign it, make a copy for your files and return it in a timely manner!

Create a file for the grant

• Keep all documents related to the grant (i.e. proposal, budget, grant award letter agreement and copy of payment method) in an easily accessible place such as a binder and an electronic file.

• This is helpful to have for a quick reference, and also for auditing purposes.

Set up a reporting spreadsheet

• It is helpful to set up a master reporting grid for all grant deadlines.

• It should contain the funder names, project title, grant #/id and the people you are relying on for reporting information.

• Share it with the people listed on the spreadsheet. Also, confirm who is responsible for what reporting duties. This helps avoid any surprises or playing “hot potato” when the deadlines approach.

Create a spreadsheet containing all project funders and deliverables

• This is particularly helpful when you receive multiple grants for the same project.

• The spreadsheet is a quick reference tool for everyone involved on the project team. It clearly lays out what is

expected by the various funders.

Keep Funders updated in between reports

• If there are any significant issues that occur on a project (i.e. major change in project scope, change in project leads, major budget revisions over 10%, depending on the funder), the grantee should contact the funder as soon as possible to inform them of the changes.

• Do not hide any information from a funder. Honesty is always best!

Preparing and Submitting Reports

• Although report lengths vary depending upon the funder, typically, it is a good idea to give everyone on your project team at least a month to prepare for a report.

• Four week and two week notifications work best. Any longer than that, people tend forget about the reports all together.

• The designated report manager should communicate reporting requirements clearly with persons on your team (e.g. reporting period to be covered, information to be included, necessary forms, etc.)

Preparing and Submitting the Report

• Read the reporting instructions carefully! Make sure that the information included in the report is thorough, clear and concise and directly answers the questions asked by the funder.

• Where appropriate, you can include items to demonstrate the progress of your project (i.e. letters of support, work samples, etc.)

• If a funder has not indicated that they want a report or a specific reporting schedule, send them one anyway. It is good stewardship practice to do so.

Preparing and Submitting a Report

• It is a good idea for the report manager to receive materials at least three business days before the report is due. This ensures that errors or omissions are caught and corrected before the report is submitted.

• Take extra care in preparing the financial portion of the report, as this section can be confusing to some. Also, it tends to come under the most scrutiny by the funder.

Before submitting your Report• Do a final proofing of the report to ensure the reporting dates

and grant ID# are correct.

• Double check to make sure all appropriate signatures have been garnered for the report.

• Do not wait until the last minute to submit a report! Submit the report on time or early, if possible!

After submitting the Report

• If mailing a report, try to send it in a way that can easily be tracked to ensure its arrival (i.e. UPS Ground or Certified Mail).

• If submitting it electronically (and you do not receive an automated confirmation), send a follow up email to the funder to confirm.

• Send copies of the reports to everyone on the project team, so that can have them for future reference.

• Add the report to your files.

Additional Tips

• If you have to ask for a reporting extension (for a legitimate reason), do not request it the week (or day) the report is due! Try to do this at least 6-8 weeks (or earlier) before the deadline.

• Make sure the designated report manager regularly communicates with the entire production team regarding any project issues. This will avoid any major surprises during reporting time!

Conclusion

• Proper Stewardship of your grant award is necessary to retain the money you have obtained, as well as building future funding opportunities.

• On time, thorough and accurate reporting is a major part of the relationship building process. It takes a fair amount of work (and persistence) to stay on top of the many moving pieces.

• However, it is a small price to pay in order to see your creative

vision come to life!

Questions?