Grant Management

Shelley Hindmon:


Dear Shelley,

Thank you for taking the time to answer my question in great detail.  I agree with all that you stated, and also agree that the Prospect Tab and Proposal Management is a very useful tool. 


Many thanks!

Have a great day!!

Gail

 

Gail Lutz:

Does anyone have a good practice for entering grants into RE?  We were awarded a grant and should receive the funds in about 2 months.  Would using the Proposal Management in the Prospect Tab be the best way to track this information.  I don't think the award should be entered as a pledge.  Would appreciate any suggestions. 

Thank you.

gail

Gail,


This is a great questions, and certainly one I grappled with myself when I first started using RE and the Prospect Tab. First of all, I would recommend using the proposals functionality on the Prospect tab to track your proposals from their initial conception through funding. It is a great place to see all of the interactions with your grantmakers (actions), copies of your proposal (media), reports to complete (actions), deadlines, amount asked vs. funded and practically anything else you want to track! I used the Proposal to track everything about my grants. 


You specifically mentioned a grant that was awarded (congratulations!) but that you will not officially receive for two months. I could show in my proposal for that grant that we were awarded $XXXX (ie: amount funded), then track the actual cash gift when it is received in two months (linked gifts button). That way I can show that we were awarded the grant, but the funds are still outstanding. Consider using a gift subtype or attribute that flags the pledge as a grant if that will help you to separate your pledges and gifts (payments for the grants) from your colleague's individual proposal or major gifts. 


I would also encourage your organization to enter the grant as a pledge. First of all, it is very helpful in gift entry for the pop up window to display that the foundation/corporation has an outstanding pledge so your gift entry person knows it is linked to your proposal and give your solicitor credit, among other things. It is also helpful to show from a revenue perspective that you are expecting $XXXX for a particular campaign and fund. This is very helpful in reporting and knowing what money your organization has raised. I managed grants just like my colleagues in major gifts did with individual proposals: create the proposal, update the constituent and proposal records as they move through the moves management process, create a pledge when the funding is expected, and pay off the pledge when the funding arrives.


I hope this helps to get you started!