What does it mean to be grant ready?

Being grant ready refers to an agency’s preparedness to apply for and successfully manage a grant and grant funded program. It looks at key elements of your agency’s infrastructure and program development.

Throughout proposals, funders look for evidence that an agency is grant ready. Their goal is to ensure they are funding programs that will be good stewards of their funds and that their support can have a lasting impact. To assess your agency’s grant readiness, review the five key components of grant readiness.

Mission, Vision, and Goals. Does your agency have a clearly defined mission, vision, and goals that is congruent with community need? A community needs assessment can be conducted in a variety of formats. In most applications, you will need to be able to demonstrate how you are filling a gap and addressing a need in your community. You will want to be able to speak to your target population and the fact that you are not duplicating services. More importantly, a strong mission, vision, and goal set will prevent mission drift. At times, it can be tempting to see a grant that is peripherally connected to your goals and apply because it is additional funding. But these mistakes can create mission drift and create future problems for your agency.

Agency Paperwork. Grants are not solely awarded to non-profits. Funding is also available to government agencies and at times, small businesses and agricultural agencies. Regardless of your agency’s status, you want to be sure that all of your paper work is current and well organized. Do you have a DUNS number, 501c3 paperwork, most recent audit, etc?

Fiscal Infrastructure. Funders need to know that you have the capacity to manage their funds responsibly. To demonstrate this, you should have strong fiscal policies that align with Generally Accepted Accounting Practices (GAAP), a program budget, and an audit or policy reviews on file. Be prepared to discuss the expertise of your financial team and their experience managing organizational budgets. In many situations, this information will need to be submitted as attachments to your proposal.

Data Systems. Receiving a grant award will make you responsible for grant reporting. This can be intimidating for many new awardees; however, the reporting process is made easy with the right data systems in place. Data systems do not need to be complex computer software. Data systems can be as simple as practices and organizational techniques that allows your information to be easily accessible. I have seen data systems ranging from simple filing systems, to excel spreadsheets, to complex computer case management systems. Knowing how you can and will collect data will allow you to demonstrate your understanding and ability to report in your proposal.

History of Success. A documented track record can be a challenge for many young agencies. The first two years of operation can be some of the most challenging times to secure funding. From day one, collect data- even if you don’t know what you will do with it. Begin working on any additional recognitions and certifications. Get your name and successes documented in the press and collect all of this information. Be prepared to tell your story of founding and success to demonstrate why you are a good choice for funding.

If you’d like to talk about ways to assess whether your agency is grant ready, I offer a free consultation to explore your needs. Request yours through my contact page.