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Many foundations ask nonprofits to share their annual operating budget as part of grant application and reporting processes.
But here's the dirty little secret (perhaps not so secret) - the numbers often aren't real.
It's a game. We set up grantees to share that they're just healthy enough to be funded, but not so flush that they don't need our money.
Requesting budgets is just the tip of the financial review iceberg, unfortunately. Many foundations ask nonprofits for lots of financial information, which takes staff time and effort for grantees to put together. And we know, too often, our foundations never even review these documents.
If you're concerned about the state of grantee financial review, and wondering if it should change at your foundation - or disagree with what's said here! - join us for a lively discussion.
- What should be the role of financial review in the grantmaking process?
- What is actually reasonable to ask for, that your foundation actually needs as part of due diligence?
- How can foundations calibrate what financial information they need to the cost grantees incur to produce that information.
- Jessica Bearman, Principal, Bearman Consulting
- Carol Cantwell, Founder, Fun With Financials
- Denise Centkowski, Program Associate, Unitarian Universalist Veatch Program at Shelter Rock
- Molly Schultz Hafid, Assistant Director, Unitarian Universalist Veatch Program at Shelter Rock