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The department leader of government funding at Your Part-Time Controller, Derick Dreher, shares valuable insights about federal grants and the application process for nonprofits. Derick emphasizes the importance of having a compelling story and a clear understanding of why your organization deserves funding. He highlights that successful applicants often have a track record of implementing impactful programs and managing finances effectively. Additionally, Derick advises nonprofits to be mindful of their budget size, as there is a sweet spot that appeals to federal agencies.Derick discusses the readiness factors for applying for federal grants, emphasizing the significance of both programmatic and financial track records. He encourages organizations to demonstrate their ability to implement programs successfully and manage funds responsibly. Derick also addresses the topic of fiscal sponsorship, stating that while it may pose certain challenges, smaller organizations can still apply for federal grants tailored to their size.The conversation delves into grants.gov, the official website where federal agencies announce grant opportunities. Derick provides insights on navigating the platform, including narrowing down searches and setting up personalized alerts. He also recommends signing up for newsletters from federal agencies as a valuable source of information.The discussion touches on the dos and don'ts of grant applications. Derick emphasizes the importance of following application instructions carefully and submitting only the requested documents. He advises applicants to reach out to program officers for guidance and clarifications, as they are there to assist and provide insights. Derick also stresses the significance of proofreading applications and ensuring that budgets align with narrative descriptions.Derick's expertise and enthusiasm for the grant application process provide clarity and debunk common misconceptions about federal grants.Watch on video: https://bit.ly/433wD3tFollow us on the Twitter: @Nonprofit_ShowSend us your ideas for Show Guests or Topics: HelpDesk@AmericanNonprofitAcademy.comVisit us on the web:The Nonprofit Show

Need advice on Federal Grants? Denzel Blount, a CPA and manager at the nonprofit accounting firm "Your Part Time Controller" (YPTC), shares his expertise on federal grants and awards. Hosts Jarrett Ransom and Julia Patrick engage Denzel in a rapid-fire discussion about effective communication with federal agencies and grantors, the importance of monthly grant spending reviews, and the benefits of negotiating federally approved indirect cost rates.Denzel emphasizes the significance of establishing communication with federal grant agencies as soon as an award is received. He suggests building rapport with the grant officer to create a more supportive and collaborative environment, stressing that agencies are willing to help nonprofits navigate compliance issues and provide specific answers to grant-related questions.The hosts inquire about the hesitancy some organizations have in contacting federal agencies. Denzel believes this reluctance may stem from the misconception that the federal government is an overwhelming compliance entity that penalizes mistakes. However, he reiterates that agencies aim to support nonprofits in their community programs and encourage open communication.The conversation also covers the topic of monthly grant spending reviews, where Denzel advises organizations to regularly track financial and non-financial requirements, emphasizing the importance of staying informed about spending to avoid compliance issues. Denzel suggests involving accounting, finance, operations, and program teams in the review process to ensure comprehensive understanding and collaboration.The discussion moves to negotiating federally approved indirect cost rates. Denzel explains that the federal government assumes a 10% indirect rate on all grants but encourages nonprofits to negotiate their rates to recoup more indirect costs. By submitting a negotiated indirect cost rate agreement (NICRA), organizations can present their rate calculation to the agency and potentially receive approval for a higher reimbursement rate. Having a NICRA also enhances negotiating power with other agencies.Denzel's expertise on federal grants and his emphasis on effective communication will provide you with valuable guidance for your organization as you seek financial support and compliance toward your mission.Watch on video https://bit.ly/3rF8u6dFollow us on the Twitter: @Nonprofit_ShowSend us your ideas for Show Guests or Topics: HelpDesk@AmericanNonprofitAcademy.comVisit us on the web:The Nonprofit Show