It’s a challenging time for nonprofit organizations. The “Great Recession” has dealt a double blow; there is more need in every community and less overall funding to help organizations deliver programs. Although 80% of nonprofit leaders anticipated greater demand for services in 2010, less than half believed their organizations would be able to meet this demand. Funding shortages and the resulting staff cutbacks simply won’t allow most nonprofits to meet heavy demand for services.
In the past two years, the total grant dollars awarded have fallen, and according to Foundation Center records, the 8.4% decline in 2009 was the largest ever recorded. By early 2010, nearly two-thirds of nonprofit organizations were operating with less than three months of cash; 12% had no cash reserves left.
In this fundraising environment, it’s important to ensure that your organization is operating as efficiently as possible to keep costs low, and pursuing all appropriate sources of additional funding. For many grant-funded organizations, acquiring, managing, and reporting on grants is a time consuming and inefficient, yet vital, part of operations. Grantees face increased competition to win grants and are striving to provide additional financial accountability and success measures to grantors.
Organizations who apply for new grants in fits and spurts (often after losing a grant renewal) can quickly find themselves in a serious cash flow crunch. To smooth out funding, organizations need to continuously apply for new grants and carefully manage the relationships with existing grantors.
Fortunately, today’s grant management software enables you to automate processes so that you can efficiently and effectively apply for—and win—more grants, demonstrate performance to earn more grant renewals, and manage every stage of the grant life-cycle, from application to budgeting, reporting, and final close-out. Grant management technology also saves time, so you and your team can focus more energy on your organization’s mission and less on paperwork. If your organization could benefit from a grant management software, why not give us a call? We would be happy to assist you.