Financial Management is a vital activity in any organization. It is the process of planning, organizing, controlling and monitoring financial resources with a view to achieve organizational goals and objectives. It is an ideal practice for controlling the financial activities of an organization such as procurement of funds, utilization of funds, accounting, payments, risk assessment… [Read More]
What is a Non-Governmental Organization?
Historical records suggest that the term Non- Governmental Organizations (NGOs) came in to use in 1945. The term was coined during one of the conferences of The United Nations, as a measure to distinguish organizations from inter-governmental and member organizations. Though the term NGO received recognition only after 1945, studies suggest that several organizations were… [Read More]
What are the ways to achieve Institutional and Organizational Sustainability?
Explore new opportunities: Keep a flexible approach while looking for new opportunities you may have to modify your priorities to adopt to changes. Develop new partnerships: To develop a sustainable organization you should develop new partnerships. These partnerships will make you stable and will also help you in taking your mission ahead. Boost existing relations:… [Read More]
What to do if your grant proposal is rejected?
Grant proposal writing is the “Go big or go home” of the fundraising world. When successful it can regenerate entire organisations and communities. When it goes wrong you have potential lost hundreds of hours of work and investment with very little to show for it. Our experience actually shows that in some cases receiving a… [Read More]
What should one keep in mind while managing NGO finances?
Below are some of the standard systems followed and mentioned in the financial policy manual: Bank Receipts a) All receipts are to be acknowledged by issuing an official receipt. The date of receipt, its accounting and the date of deposit of the check/draft to the bank account should be the same. The relaxation can be… [Read More]
How can small NGOs manage their fundraising?
Here are some tips on how to manage fundraising. 1. Building Trust In all aspects of grant management, problems can be avoided with clear and regular communications with grants officers. Put everything in writing! 2. Observe project start and end dates for spending Don’t make payments or enter into commitments before the agreed contract start… [Read More]
What are some online and offline fundraising tips for NGOs?
Here is a video that offers some tips that have worked for some organizations and will surely help you to maximize your funding efforts. To help you in various methods of fundraising we have divided the guide into two sections; the first section deals with tips to help with conventional fundraising methods while section two… [Read More]
How NGOs can identify Genuine Grant Opportunities and Donor Organizations and avoid Scams?
An online scam is a fraudulent activity carried out over the Internet by providing incorrect information for the purpose of stealing money or assets from victims. Online scams are one of the biggest threats to businesses and governments around the world as they end up with severe financial losses and mental and emotional harassment of… [Read More]
What does cost recovery mean?
Cost recovery refers to the overhead costs that your NGO incurs every day to operate, as well as certain back office salaries. For example, office rental, electricity, heating, IT and internet, telephones, marketing and management. For many years NGOs would ignore these hidden costs and when applying for funding, would only budget for direct project… [Read More]
I found the right grant-making foundation to fund my project and I want to send a letter of enquiry. But it does not accept unsolicited proposals?
Many of us have experienced this all too familiar tale: You find the perfect grant funder, they have supported similar work in other bordering countries, they share the same ethos and values, they have a big fund of money to spend in your field, but the foundation doesn’t accept unsolicited enquiries. After the initial gasps… [Read More]
