Finish Strong in the Application Funding Phase
The moment of truth has arrived. It’s time to put your money where your mission is! You’ve put all the right pieces in place and are ready to put those pieces together to make investments in your community for the greatest possible impact.
There’s no need to puzzle over where the pieces go. A strong finish to your application period is in sight with a few funding phase considerations.
Decide which proposals should receive funding
There’s a good chance you’ve received requests for more funds than you have available. This can lead to tough conversations and even tougher decisions. There are a handful of questions you can ask to help you get the discussion moving in the right direction.
• Did the applicant meet the minimum criteria for funding?
• Did evaluation of their application give you a clear indication they should or should not receive grant funds?
• Are the proposed services aligned with your strategic goals?
• Will the program serve the right people in the right places at the right times?
• If you fund the activities, are they likely to make a meaningful difference?
Determine how much your applicants will receive
Have you decided which applicants will receive funding? Fantastic! Now you’re ready for the next big step: determining how much each agency will receive. This is a big decision on its own, and answers to the following questions can help you be ready for it.
• Are requests reasonable when compared to the services provided?
• Is it best for your organization to give a little less to more agencies or more to fewer agencies?
• Will applicants be able to provide the proposed services if they are awarded less than requested?
• Are there concerns that warrant conditional funding?
Keep track of your decisions and keep everyone informed
Are you excited? You should be! You’re about to make a mighty big difference in your community through your impact-focused, strategically aligned, right-place-right-time grants. Be sure you note your good work and let folks know about it with the following steps.
• Keep track of the amounts requested and awarded in an easy-to-access place.
• Record the reasoning for overall and individual funding decisions.
• Notify applicants of your decisions, why decisions were made, and what they can expect next.
• Share the good news with your community!
Managing this process is as easy as 1, 2, 3 with e-CImpact:
1. Manage internal and external application evaluations to get the right information to make the best funding decisions.
2. Track funding requests, award amounts, and funding decision rationale in a single spot.
3. Create and send customized funding notifications and agreements for review, agreement, and signature seamlessly.
Your application funding phase (and everything before and after it) doesn’t have to be tough. While Seabrooks can’t make your funding decisions for you, we can help with tools to make it easier for you, your applicants, and your reviewers. Reach out to email@example.com today to learn more.