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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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How to Streamline Your Grant Management Process with Technology

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To avoid overwhelming your team, standardize how you receive and process grant applications at your organization. Having a predictable and consistent grant cycle will ensure your team members are able to evaluate each request efficiently and effectively. Teams can even build statuses that are specific to grant types.

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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. Seek clarity.

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What is Grant Management?

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Grant management is the comprehensive process of overseeing all activities related to grants: from identifying recipients, to awarding funds, to reporting on outcomes all while maintaining compliance with regulatory requirements. Table of Contents Grant Lifecycle Who Handles Grant Management for Grantmaking Organizations?

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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. Many grants, especially federal and state grants, are restricted.

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Don’t Jeopardize Your Nonprofit Compliance with a Commercial Accounting System?

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Grant-funded nonprofits know compliance isn’t a nice-to-have. You might be able to win back an unhappy donor with a new program or event, but grant funders usually don’t get excited about silent auctions. When your accounting system is not built to handle restricted funding , each report can feel like a fire drill.

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5 Tips for Community Health Centers to Transition to New Fund Accounting Software

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In a small, grant-funded organization, you might not have these skills and that’s ok! Your point of contact understands the importance of monitoring patient traffic trends, developing economies of scale, and identifying grants that will shore up revenue streams. Determine the non-financial metrics you want to track.

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