Define which tips you have learned outside the course text and lectures.
In the course textbook and lectures there are several steps that need to be taken in grant writing. Many of those steps revolve around identification, research and review. One tip in grant-writing I found in online tutorials is to “seek advice first and funds second” (Writing Tutorial). It is important to consult with people who know and understand the pressing issues. It’s wise to learn from those who have requested these funds or similar funds through grant writing. This will help eliminate any possible proposal rejections. Another tip is to structure the executive summary. This is the most important component of the document. It gives the reader a “snapshot” of all of the important information and key components of topics to address (Proposal). Another good tip is to follow the instructions outlined in the grant proposals. A lot of times, grant writers are so fixated on the major details they forget about the simple details which leads to rejection of proposals.
Evaluate and explain what potential pitfalls associated with restricted gifts?
Restricted gifts can be beneficial to many nonprofit organizations. Restricted gifts are those funds specified for a specific need in regards to program and services. This can be significant because it will structure where and how funds are used. Because restricted means that those particular funds are to be used for specific needs it can create negatives. If these funds are used for any other purpose besides there outline specifications than it can create problems for the nonprofit. It is significantly important for nonprofits to structure and keep track of how they spend their funds and to where those funds are allocated.
What according to you are the most important regulatory requirements, at the federal and state levels for charitable contributions?
Registering the nonprofit organization is one of the most important requirement in order to solicit contributions. If the organization does not register it will not be allowed to fundraise accordingly. It is important for any organization to follow these procedures. Attaining contributions or funds not in procedures or code with the state or federal government can be punishable. By registering the nonprofit organization will allow the NPO the ability to create and develop relationships with all of their bases covered.
Nonprofit regulation in North Carolina. (n.d.). Retrieved from https://ballotpedia.org/Nonprofit_regulation_in_North_Carolina
Writing Tutorial. (n.d.). Retrieved from https://www.neafoundation.org/pages/resources-writing-tutorial
Outside the textbook and the lectures, I have learned that grant-writing is a skill that takes time and patience. Often, it is compared to gambling. Herbert Landau, says if the odds are against you winning, don’t do it. Most foundations and corporations use the website to list their application process. It is important to do the research first. One must decide what they consider as research and how do you know that you have done enough. “One common mistake that first time grant writers make is to fill out the application first” (Grant writer, 2017). After looking at the 3 websites, I can tell that everyone has a basic idea of how to do grants and there are some things that are consistent. What is then commonality is the have a plan and do the research. With any grant, there should be a strategic planning session with the leaders, stakeholders, and the partner.
Pitfalls with restricted gifts can constrict an organization from doing what they want to do. They are forced to do what they need to do with the money. When a grant is written, they must request money and dictate where and what that money is going to. A pitfall could be that organization that takes the funds to do other things with it. They run the risk of losing the trust from that donor. “Donors will place a restriction on a gift if they do not trust that the organization’s preferences for expenditures match their own” (Helms, 2012). If I were an executive of a nonprofit organization, I would prefer to not have restricted gifts. I do understand that it if a form of control and obedience that must be followed. With unrestricted gifts for my organization I’m able to make quicker decision on what is priority and how to spread the funds around through different ways.
According to me the most important regulatory requirements are understanding the flow of the money. Where or who it is coming from and once my organization gets it, how will it be spent? “”The objective of financial reports is to provide information about the financial position, financial performance and cash flows of an entity that is useful to a wide range of users in making economic decisions” (Kilcullen, 2007). A positive aspect of this is know who to back to and use for future funding sources. Also, networking and collaborating on some different ideas.
Grant writing tips for beginners. (n.d.). Retrieved March 05, 2017, from http://arsl.info/grant-writing-
Get Ready for your best grant season ever. (n.d.). Retrieved March 05, 2017, from
The five basic steps of the grant writing process. (n.d.). Retrieved march 4, 2017, from
Helms, S. E., Scott, B. L., & Thornton, J. P. (2012). Choosing to give more: experimental evidence on
restricted gifts and charitable behaviour. Applied Economics Letters, 19(8), 745-748. doi:10.1080/13504851.2011.599784
Kilcullen, L., Hancock, P., & Izan, H. Y. (2007). USER REQUIREMENTS FOR NOT-FOR-PROFIT ENTITY
FINANCIAL REPORTING: AN INTERNATIONAL COMPARISON. Australian Accounting Review, 17(1), 26-37. Retrieved from https://search-proquest-com.southuniversity.libproxy.edmc.edu/docview/217545485?accountid=87314