How can I set up Grants for best usage?
When setting up a new grant, your organization will want to track these in the most efficient way possible. There are ways to set up grants from the beginning that can cross over into overall reporting as well as tracking in the Grants Dashboard itself.
Click here to see how Grants are set up.
Setting up your Financial System Settings for grant tracking
1. Create a Campaign for grants. This will allow your organization to do more detailed reporting on the money pledged and received from grantors.
2. When creating the Campaign for grants, assign the default Fund as Restricted. This will ensure for accounting purposes that all grants are restricted for a specific purpose.
3. When creating the Campaign, consider creating specific Purposes that will allow your organization to give deeper tracking abilities for all your grant programs.
When creating the grant itself, set it up for ideal tracking
1. Utilize the Custom Status specific to grants as well as the built in Status
2. Use the Due Date for when the grant needs to be fully ready
3. Assign the Campaign and Purpose to the grant
4. Assign the entire ask amount, even if it is multi-year
5. Use the File Upload on the Grant : Create screen to attach a file specific to the grantor such as an annual report or grant guidelines by the grantor
Track the progress of the grant
1. Utilize the Activity feature specific to grants to track NeonCRM user tasks
2. Do not turn on reminders to the Client (i.e. Grantor) since the system will remind them of your activity as well. It is best to do this from your work email
3. Assign priorities to the Activity to ensure that it is treated with the urgency it deserves
4. Consider creating a repeating reminder for annual reporting to the grantor
5. When utilizing the Activity feature, utilize the ability to attach files to the specific activity. This can be for version tracking or historical purposes
What occurs once my grant is funded?
The Grant feature in the NeonCRM is mainly for tracking the progress of pending grants as opposed to tracking the financial income from grants. Since organizations are treated differently from individuals, the ability to track pledged and received amounts from grantors is quite easy. Your organization should create a pledge once the grant is received under the funder’s record; then utilize the same Campaign, Fund, and Purpose structure that you had set up before for financial tracking of pending and received grants.
What is the Grant Custom Status?
We have added the Grant Custom Status since grants need to have their own special tracking system unique to each organization. You can edit this area under Contact Activity System Settings. Here is a screenshot of a potential series of Grant Custom Status options your organization can create, though we encourage you to make it specific to your organization to ensure the highest flexibility in tracking.