Nonprofit Success Workshop Recap

Operating Budget Template Project Budget Template Finance Report Template

Grant Terminology

  • Funding Priorities – the issues, populations, geographic areas, or types of work a funder is most interested in supporting
  • Outputs – the direct, measurable activities or products of the work
    • e.g., “50 students participated.”
  • Outcomes – the changes or benefits that happen because of the work
    • e.g., “participants increased their financial literacy.”
  • Evaluation/Metrics – how you will determine whether the project achieved what you intended
  • Grant Period/Period of Performance – the timeframe during which grant funds may be used and the funded work is expected to occur.

What makes a grant application stand out?

  • Adequately identifying and describing a problem
  • When the applicant has researched no one else is offering that solution
  • Strong communication/relationship building
  • Community-focused tone
  • Innovative, new solutions
  • Collaboration
  • Detailed and well-thought-out project budget
  • A developed funding plan

What are common attachments?

  • Board of Directors list
  • IRS determination letter
  • Organizational budget
  • Project budget
  • Most recent financial statements
  • Most recent form 990
  • Project timeline
  • Organization vision and mission statement
  • Strategic plan

Finance Terminology

  • Operating/Organizational Budget – the budget for the nonprofit’s overall operations, rather than one specific project
  • Project Budget – the anticipated income and expenses specifically associated with the proposed project or program
  • Revenue – money coming into the organization from grants, donations, program fees, fundraising, etc.
  • Expenses – money the organization spends to carry out its work and operate
  • Assets – what the organization owns or controls
    • Cash, investments, equipment, property, receivables, etc.
  • Liabilities – what the organizations owes
    • Bills, loans, payroll obligations, and other debts.
  • Net Assets – essentially what remains after liabilities are subtracted from assets.
  • Restricted Funds – money that must be used for the specific purpose designated by the funder/donor.
  • Unrestricted Funds – money that can generally be used wherever the organization needs it most.
  • General Operating Support – funding that supports the organization’s overall mission and operations rather than a specific project.
  • Project Support – funding designated for a particular program, project, or activity.