The word, “Audit” plays a very crucial role for a grant receiver. An organization can be prepared for audits or be penalized for not being compliant with the audit requirements. To be compliant to the audit requirements, it is required that prior to receiving grants, the organization should establish an internal control systems and have well-defined performance measures facilitating grant management. Granting organizations should have an effective post-award process to assess the grant results and to manage the performance of the grant recipient. The recipient organization needs to demonstrate compliance and accountability for the donor’s satisfaction.
Best Practices for Grants Management Audit
Proper audit preparation is the key factor that determines how successful an audit will be. Inadequate audit preparation leads to penalties, excessive audit fees, delays in report publication, and non-compliance. The key areas you need to focus on to prepare for an audit are:
Donors stop donating to the causes that they once adopted, and most of them do that before their giving becomes profitable. Donors abandon non-profits that do not spend wisely. However, donors remain connected to their philanthropy in spite of being frustration with many aspects of the modern-day fundraising. Donors stay loyal and donate generously to the any cause that meets their requirements.
The fool proof formula to keep a donor loyal to your non-profit, to make him stay, and to raise more money in the changing donor environment, is following the Donor-Centered Fundraising approach, which represents all that a donor wants. Donor-Centered Fundraising approach refers to fundraising that inspires donors to give generously and to remain loyal to your organization. It focuses on fulfilling the essential requirements of the donor organization, which are:
President Obama signed the Workforce Innovation and Opportunity Act (WIOA) in July 2014 after it was passed with almost unanimous bipartisan support in Congress. It was the first update to the country’s core workforce training programs in the 16 years since the Workforce Investment Act (WIA) was first passed. There have been numerous changes since 1998 but the workforce system of our country has not kept up. Low-income and low-skilled workers have to face more hurdles than ever in securing an education and finding a decent job.
The purpose of passing the WIOA was to provide local and state areas the leverage to collaborate across systems in order to better address the skill and employment requirements of present jobseekers, employers and employees.
Here’s a small but significant fact. Funders focus more on the program design or the plan of action section in your grant proposal. Therefore, careful planning and communication of the program design section is important in writing a winning grant proposal.
The Program Design section of grant proposal begins with a purpose statement. It is followed by a detailed description of your program, goals, objectives, and activities. It further includes an implementation timeline, and the management and evaluation plans. It ends with a sustainability statement.
What should a Winning Program Design include?
With new technology and channels—like emails, Facebook, LinkedIn, funding sites, mobile phones, and web—non-profits have been exploring different opportunities to stay in touch with the people who are important to their organization.
Your non-profit organization might be well-established, but you need to update it to modern tools if you want to meet the latest fundraising goals. Technological option is convenient to the members. Many payment practices have moved online and your non-profit organization needs to be ready to keep up with it.
There is an increase in the number of people who prefer to pay money through online transactions. Studies have suggested that young people comprise of the largest group to have adopted this trend. To keep at par with this growing trend of online donations, the non-profit should have updated technology strategies. With small changes in your strategy, you can see a big difference in how your contacts judge you and how likely will they contribute.
Writing a winning grant proposal (one which provides you with the funds) is not an easy task. A huge amount of research and excellent writing expertise is required prior to development of a proposal. A lot of organizations lack an experienced grant writer for handling grant writing, management, editing and development. If you are not receiving any grants after putting a lot of effort in writing them, then there is something very crucial missing in your grant proposal.
Here are some tips which will assist you in writing effective grant proposals –
Take ample time
Everything that you plan takes longer than you estimate. No matter how meticulously you plan, there are many things to consider in a project, some that you might have missed to overlook in your plan, some more time-consuming than expected, all these factors are involved in submitting a proposal. Therefore, take your time in analyzing and researching prior to finalizing a project.
Writing effective Grant Submissions that might help you win Grants – however, most of us are deluded into the idea that grant writing is complex, tough, time consuming and difficult. It is not so!
Technically, yes, preparing grants is time consuming and you do have the risk of your application being turned down, but you can include some simple steps to become ahead of time, and make sure that you achieve success. We will discuss some of these points here:
Also read: Handling a Federal Grant Application Rejection Notice
Properly Prepare Files and Documents For Submission!
Audits provide an assurance that the disbursed funds are being used for the intended purposes and in accordance with the Grant Agreement—which includes the approved budget and the Performance Framework. Audits are important for the decision-making process regarding (1) disbursement of funds, (2) renewal of grants in the framework of performance-based funding principles, and (3) forming an integral part of grant risk management framework. It also keeps a check that the Financial Statements should represent the financial transactions and balances of the Grant.
Audit of Grant Program Financial Statements must be conducted according to the International Standards on Auditing (ISAs), and according to The International Organization of Supreme Audit Institutions (INTOSAI) standards for Governmental auditees.
Family Foundations provide grants to other charitable organizations, which use those funds to carry out their charitable programs and activities. Family foundations have become the latest platform for philanthropic rich families. In addition to the more traditional family foundation, this charity-giving concept has also drawn the interests of families with moderate wealth.
Focus on family in philanthropy can be demonstrated by the number of foundations boards that seek the incorporation of younger members. It is considered to be a positive trend because young members of a family are brought into the existing philanthropy and are considered to be a renewal force in philanthropy. Large family foundations are more locally focused because of the fact that they are older, and sometimes originate from a family-owned local business. Many younger family foundations anticipate an influx of new assets. How these assets are invested and the philanthropic vehicles used will have a major influence in the field.
Facebook has always been interested in associating itself with good causes. It has served as a global platform where communities of volunteers, donors, and activists can come together to contribute to make the world a better place to live. People have used the social networking site to raise money for natural calamities, disaster relief, and to create an awareness for the issues about which they care.
In 2013, different ways for nonprofits to fundraise on Facebook were tested for the first time. As a company, it has also partnered with various organizations to create awareness and donation campaigns for major disasters, like the Nepal earthquake. Recently, Facebook has developed a new tool for fundraising and has improved its “Donate” button, which allows people to donate to causes and charities without leaving Facebook. The “ALS Ice Bucket Challenge,” which was viral in 2014, inspired the development of the new tool. People were seen raising money and awareness on Facebook through the ALS Ice Bucket Challenge; however, the ALS Association could neither handle the volume of traffic to its website, nor was it able to accept the international currencies.