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Is Your Organization Ready for Federal Grants?

Writer's picture: Bria  ArlineBria Arline

Federal grants can offer incredible opportunities for your organization. 


But if your organization is not ready for federal funding, pursuing these complex awards can waste precious time and resources.


Following are three signs that you are “federally grant ready.”


You Have Sustainable Revenues


Federal dollars are designated funds, meaning you can only use them to cover direct project expenses and any agreed-upon indirect expenses.


If implementing your program will cost you more overhead than the grant will cover (which is often the case), then you’ll need to have unrestricted revenue to cover additional overhead. 


You Have Strong Financial Controls  


Grants management is a critical aspect of federal funding. Essentially, you need to be able to show that you used the grant dollars exactly as you agreed to when you accepted the money.


Before you apply for federal funding, you’ll want to have a history of clean audits, the capacity to track expenses in two dimensions and strong written policies for financial controls. 


You Have an Established Program


The federal government is generally risk-averse.


Unless you’re applying for a research grant, a federal grant is not the time to try new, untested solutions. 


The most likely winners already have a strong history of programming and broad community support. Having a strong program you can build on means you can approach the funder with a proven model and strong letters of commitment or support. 


Conclusion

Federal grants require a lot of pre-planning. But once you have the right foundation, you can enjoy the impact and prestige of these high-profile awards.  


Want more insights into creating a successful grant strategy or other topics to help you fuel your mission? Follow us on LinkedIn, Facebook and Instagram.


Need a skilled team to help you secure federal funding? Reach out to us today for a free consultation.

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