Managing project financing is not always easy – you probably have experienced challenges like difficult grant conditions, overdue reports and the complexity of finding the right funds in order to efficiently implement development programmes on the other hand.
Donors and not-for-profit organizations have a somewhat symbiotic relationship, they do need each other. That’s why managing and monitoring your project financing is crucial. A good practice that results in transparency in your project financing will:
- Allow you to make effective and efficient use of resources to achieve objectives and fulfil commitments to stakeholders
- Help you to be more accountable to donors and other stakeholders
- Gain the respect and confidence of funding agencies, partners and beneficiaries
To help you do so, ProjectConnect has some distinctive features:
- Grant management gives you an overview of running grants, providing insight to project income for all stakeholders and supports monitoring grants by sending notifications when donor reports are due.
- Project income budget can be created and set up to register projected income for your activities and then to monitor realized income per donor group (institutional funds, companies or private individuals) for each project that receives (earmarked) funds.
- Registration of surcharges and deductions for your project budgets enables to build internal funds for covering costs that transcend projects.
- Fund management keeps your earmarked and non-earmarked income easily manageable in easy-to-set-up funds. You can make allocations from funds to projects / programmes.
In short, solid project financing makes it easy to report to donors and show the impact of their donation. And it will be a lot easier to meet your donor reporting requirements. Eventually building trust and confidence, for the good of your organisations’ mission.
We will present a free webinar in May around this topic, so stay tuned for more announcements!
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