As the giving seasons concentrates on End of Year, events, and national giving day campaigns, grants will be on the back burner of activity. Yet, it is important for nonprofits to be prepared for the coming year of grant writing. Obtaining grants requires nonprofits to take proactive steps in their operations. Foundations want to see organizations with strong impact results in their work. Are you ready to write your grants next year? Here’s a few steps you can take now.
- Ensure your 100% of your board of directors are contributing financially to the organization.
- Use your 990s as a marketing tool. Even if you qualify for the 990N, the online filing, you will need to write the 990EZ or 990 (regular) to be considered for grants by most foundations. The 990 should use any notes sections for promoting their successful impact.
- Update your Anti-Discrimination and Inclusivity policies as these are required by most grantors now. As a matter of fact, take this time to update your bylaws and all policies to ensure they are accurate in how you are running your operations.
- Make sure your financials show nonprofit industry standards of expenses in operations, programs and fundraising. Although averages can vary, organizations should strive to have over 80% of their expenses going to programming and less than 10% going to operations and fundraising.
- Make sure you are in compliance with the State filings and annual audits.
Any steps made towards the operations and compliance of your organization improves your success in receiving grants.