The Lifecycle of a Grant
Found a grant?
Want to apply?
Not sure where to start?
Often, grants can feel a little overwhelming. And yes, it can be hard to know where to start.
The obvious thing is to start at the beginning. But WHERE exactly is that?
Every project or event you plan will have a set lifetime.
It will have defined start point, an end point and stuff in the middle.
Grants are the same, they have a lifecycle too...a beginning, middle and end.
Broadly speaking, this lifecycle has 5 stages:
- Conception
- Application
- Assessment
- Administration
- Acquittal
Two of these are completed by the funder and three are completed by you, the applicant.
Understanding a little about this lifecycle will help you as you apply for, administer and acquit your grants.
Stage 1 - Conception (Funder)
Grants are conceived by the funders who decide they want something done.
They may not be able to do 'that thing' themselves and so, they pay others to do 'that thing' for them.
These funders prepare grant guidelines which detail ‘that thing’ they want someone else to do.
And they prepare a heap of questions that you, the applicant need to answer.
Stage 2 - Application (Applicant)
The application stage starts when you, the applicant, decide to apply for the grant.
You’ve checked that you are eligible (and the project is too) and you’ve started an application form. (Things to note when you read the grant guidelines include dues dates, mandatory documents, how much money you need to kick in and what reporting you need to complete in the administration phase.)
Applications vary in size. They can be small (think 2000-3000 words) or large (5000 words plus), and everything in between. They vary in complexity, length, level of supporting documents and any number of things.
While we don’t have time to go into ‘the how’ of writing here, you can book a free 20 min chat to explore my mentoring, coaching and workshop services that do cover this.
I think it’s important to note that a well set-up application makes the administration stage of the grant so much easier for you. Think of the application as your foundations for a solid and beautiful building. Get it right and all things will be square, no leaks, no gaps to patch, no variations.
Get it wrong – well you don’t want to make a rod for your own back!
Get it right and reporting and acquittals are straightforward and dare I say it – easy!! Well certainly easier!
Stage 3 - Assessment (Funder)
After you submit your application there is the assessment stage.
In this phase, the funder reviews all the applications they have received.
They check that each application is eligible. They make sure you have provided all the mandatory documents. Then they approve your application to proceed for assessment.
Assessors read your answers, decide if you have answered the question and then score the question against the assessment criteria. Then they assess your answers to see if your project will do ‘that thing’ and give your answers are score. Every application is scored and decisions on who gets a grant (and how much they get) is based on these scores.)
This is the process that decides if you get the thumbs up and the money you are seeking.
Stage 4 - Administration (Applicant)
The administration stage often comes as a surprise to many applicants.
This stage begins when you get the letter/email offering you the grant. You will need to accept the grant and sign a contract. Like any contract, the devil is in the detail. So, make sure you read it and know what is expected of you (and what you can expect from the funder).
Administration requires you to keep good records. I recommend you have a system. A simple one is fine. It can be as easy as a hardcopy folder where you save everything - by everything I mean invoices, photos, copies of where you have acknowledged the funder and all other grant related documents. When it comes time to report, you don’t want to be looking to find an invoice from a year ago!
Once you have signed the contract you can start spending money (anything before you sign is retrospective but that we will cover that on another day). The contract will have due dates. These dates will include milestone or deliverable dates. (Think of deliverables as things you need to show you have completed.)
Written and financial reporting is usually a part of one or more milestones. Usually, progress reports will be formal MS Word or online templates that you need to complete and submit to the funder. Remember, you will need to provide evidence of completed work along the way (hence the need for good records!).
Stage 5 - Acquittal (Applicant)
The last stage of the grant lifecycle is the final report or acquittal report.
This is where you provide the funder with the final things they asked for in the contract. Usually it will include a written and financial report, evidence of completed project, audits, acknowledgements…and anything else they have asked for.
Photos are great – while a good one is worth a 1000 words, you will probably need to write something too. Some funders are playing in the video reporting space, so if you are great with video, keep an eye out for those grants!
Essentially, acquittal is the finalisation of the contract between you and the funder.
The contract outlined what you would do and what the funder would do. After you have submitted your final report you may want to contact the funder and confirm that your acquittal requirements have been met and the contract has been completed!
Then you can celebrate on a job well done.
You’ve moved through a complete lifecycle for a grant.
So back to the question we started with - where do you start?
I recommend you start by writing down EVERYTHING about your project.
Only then go looking for a grant.
When you find a grant the first question to ask yourself is - does your project do 'that thing' the funder wants?
If yes, great! Then check you are eligible and start moving through the grant lifecycle stages!
Check out the Services page to explore how Grantable can support you in whatever stage you are in. If you'd like to know how I can help, book a free chat below.
Got a grant question? Something you would like me to write about? Add it in the comments below.
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