4 steps to better grant management

Description

Abstract: Grants have long been the lifeblood of many nonprofits, and more organizations are wading into grant waters amidst continuing economic uncertainty. Establishing or revamping the grant management process doesn’t happen overnight, but the long-term payoffs (and potential payouts) make the investment well worth it. This article presents four steps for improving grant management. A brief sidebar covers the importance of understanding how to recognize grants under the Financial Accounting Standards Board’s rules.