Picture the scene...
Your heart is pounding. It's here - your decision letter. You get that familiar feeling, similar to when you received your exam results when you were younger - only this time the decision contained within it could have wider repercussions. Apart from the fact that you are now a grown up, your decision letter could be the determining factor in whether your project lives or dies, and with it the aspirations of many people.
You open your letter and see the first line "Congratulations! I am pleased to inform you..." You don't need to read any more. A year of hard work (sometimes more, sometimes less) rewarded with the faith and trust of a grant-making body. Happy days!
The euphoria that often accompanies notification of a grant award (depending on the size of the award being made) can be short-lived. Once you read the rest of your letter, and take time to digest the consequences of it, you wil realise that you will be expected to enter into a delivery contract. And expectations are high.
Probably the remainder of your letter will outline the expectations upon you. The first of those will be "pre-award" conditions. These will be a pre-requisite for a formal offer. Until that time you cannot even promote the fact that you have been successful in your application. Therefore, file away that press release for later. Oh, and the clock is ticking (again!). You will normally have about six months to fulfill these conditions before the offer could be withdrawn. Grant bodies have targets to meet as well.
Do not panic. These conditions usually highlight those tasks that you will need to undertake in order to move your project forward. The tasks will be those that could not realistically be achieved when you were still an aspiration. This could include confirmation of how you will actually achieve x,y and z, in reality and formal ascent from others, rather than an in-principal letter of support.
This is also a good time to sanity-check your proposal and to re-engage those partners who had committed to providing you with the world. During the last few months of waiting for a decision, the context for you project might have changed. People move on. You might have found a better way of achieving your aims. You might want to integrate a new idea into your proposals.
Start as you mean to go on. Set up your delivery structure with an in-built flexibility. However thorough you have been, there will always be one or two curve-balls that appear mid-way through your project with which you will need to deal. This could be anything from an underestimation of cost to a change in workable timescales, meaning that deadlines (project milestones) could be missed. Be prepared to search, beg, steal and borrow to make up unforeseen funding shortfalls. Find out if parts of your project can be sponsored commercially, without detriment to either the grant funding body or the ethos of your initiative.
A common oversight is the failure to account for PR properly. Your grant body will expect to get credit and publicity for the project. It might be a key factor in generating interest and participation from your target audience. If it is not your area of expertise it can be time-consuming and frustrating. If you hire an expert, you will need to pay them. Where does this appear in your budget?
A second oversight is usually photographic evidence. This has a PR application but also a "before-and-after" benefit. Will erratic use of your "flip-cam" suffice or do you need to use someone who knows about light, photo composition and compressing the size of an image for use on websites. Budget heading anyone?
Start as you mean to go on (repeat like a mantra). Decide how you are going to collect information on the progress of your project. This is aside from your income and expenditure. Collect and cost your match-funding. In-kind donations, free advertorial, products sold at cost. It all adds up and it all has a value. Keep a record of volunteer hours. Most grant bodies will use similar formula for professional and manual volunteer time so that you can translate these into financial contributions.
Start as you mean to go on. Many "purchases" are going to need to be tendered, although thresholds of value may vary. This will include both consultancy expertise and capital purchases. Salaried positions will need to be advertised. This takes time. Set up a tender process for your project at the start that you can apply as, and when, needed. Think about structuring each distinctive element of your project through a "formal brief". This will help both the tender process and your ability to demonstrate to your fund provider that you have a clear management mechanism for your project.
Start as you mean to go on. Do you have a clear decision-making structure in mind? Is this a Board, a management team or picking straws? Tender submissions will need to be evaluated and maybe short-listed for interview. Recruitment for salaried posts will be the same. What collective expertise is available? Does this need to be supplemented now that you have a grant award in place (albeit still in principal at this stage)? Who has financial expertise or has this been budgeted for, alongside the preparation of annual accounts and maybe an external audit?
Brilliant. You are all set. As you know your project inside out, you can get to work creating a project plan that will sit alongside your business plan. Define your monthly tasks, who is responsible for each and what is the desired outcome. Again, this will help considerably with the increasing number of grant regimes that are "outcome focussed" i.e. need to see a change as a result of their investment. It will also help you to oversee the project strategically as well as operationally.
Finally, there is the conundrum of VAT. Reasonably straightforward in terms of guidance about what you can and cannot claim back. Not so easy when the rate keeps changing. This is great for your contingency budget if the rate comes down between your project submission and the end of your project. Not so good recently if you submitted back when the rate was 15% and your project continues past the increase to 20% next year. "Contingency" and "Inflation" are your BFFs in terms of budget headings. Just make sure that you accommodate changes to VAT within these, as well as price rises and unforeseen costs.
Picture the scene...
Digging the first hole, laying the first brick, teaching your first class, watching the first smile or glimmer of self-esteem from someone who deserves better in life. Of course it is all worth it. Crack on, it is not rocket science, it just takes a bit of foresight and a lot of hard work.
